Wolverine World Wide, Inc. $WWW Shares Bought by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC increased its stake in Wolverine World Wide by 234.3% during the first quarter, owning 237,841 shares worth approximately $3.3 million.
• Wolverine World Wide reported quarterly earnings of $0.35 EPS, surpassing analysts' expectations, with revenue of $474.20 million, up 11.5% compared to the same quarter last year.
• The company declared a quarterly dividend of $0.10 per share, with an annualized yield of 1.3%, to be paid to investors of record on October 1.

Intech Investment Management LLC raised its stake in Wolverine World Wide, Inc. (NYSE:WWW - Free Report) by 234.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 237,841 shares of the textile maker's stock after buying an additional 166,692 shares during the period. Intech Investment Management LLC owned approximately 0.29% of Wolverine World Wide worth $3,308,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WWW. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Wolverine World Wide during the 4th quarter valued at $64,000. PNC Financial Services Group Inc. lifted its stake in Wolverine World Wide by 10.4% during the first quarter. PNC Financial Services Group Inc. now owns 9,132 shares of the textile maker's stock valued at $127,000 after purchasing an additional 863 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of Wolverine World Wide during the first quarter valued at approximately $163,000. Wealth Enhancement Advisory Services LLC acquired a new position in Wolverine World Wide in the 4th quarter valued at approximately $204,000. Finally, Integrated Investment Consultants LLC grew its position in Wolverine World Wide by 31.9% in the first quarter. Integrated Investment Consultants LLC now owns 15,137 shares of the textile maker's stock worth $211,000 after acquiring an additional 3,665 shares in the last quarter. 90.25% of the stock is owned by hedge funds and other institutional investors.

Wolverine World Wide Trading Down 0.7%

Shares of WWW stock traded down $0.22 during trading hours on Thursday, hitting $30.43. 1,787,409 shares of the company were exchanged, compared to its average volume of 1,551,173. The company has a 50 day simple moving average of $27.04 and a two-hundred day simple moving average of $19.30. Wolverine World Wide, Inc. has a fifty-two week low of $9.58 and a fifty-two week high of $32.80. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.75 and a current ratio of 1.24. The firm has a market cap of $2.47 billion, a P/E ratio of 29.83 and a beta of 1.80.

Wolverine World Wide (NYSE:WWW - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The textile maker reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.12. The business had revenue of $474.20 million for the quarter, compared to analysts' expectations of $447.82 million. Wolverine World Wide had a return on equity of 31.99% and a net margin of 4.73%.The business's revenue was up 11.5% on a year-over-year basis. During the same period last year, the business earned $0.15 EPS. Equities analysts anticipate that Wolverine World Wide, Inc. will post 1.23 EPS for the current year.

Wolverine World Wide Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Wednesday, October 1st will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Wednesday, October 1st. Wolverine World Wide's dividend payout ratio is currently 39.22%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Stifel Nicolaus increased their price target on shares of Wolverine World Wide from $30.00 to $36.00 and gave the company a "buy" rating in a report on Wednesday, August 27th. Telsey Advisory Group reissued a "market perform" rating and set a $29.00 price objective (up previously from $17.00) on shares of Wolverine World Wide in a research note on Wednesday, August 6th. Piper Sandler restated an "overweight" rating and set a $25.00 target price (up from $20.00) on shares of Wolverine World Wide in a report on Tuesday, August 5th. KeyCorp reiterated an "overweight" rating and issued a $32.00 price objective (up from $25.00) on shares of Wolverine World Wide in a report on Thursday, August 7th. Finally, UBS Group lifted their price objective on shares of Wolverine World Wide from $30.00 to $36.00 and gave the company a "buy" rating in a report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $27.50.

Insider Buying and Selling at Wolverine World Wide

In other news, Director Brenda J. Lauderback sold 12,854 shares of the firm's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $32.14, for a total value of $413,127.56. Following the transaction, the director owned 48,675 shares of the company's stock, valued at $1,564,414.50. This trade represents a 20.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Nicholas T. Long sold 12,854 shares of the firm's stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $31.84, for a total value of $409,271.36. Following the transaction, the director owned 76,268 shares of the company's stock, valued at $2,428,373.12. This represents a 14.42% decrease in their position. The disclosure for this sale can be found here. 2.28% of the stock is owned by corporate insiders.

About Wolverine World Wide

Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories in the United States, Europe, the Middle East, Africa, the Asia Pacific, Canada and Latin America. It operates through Active Group and Work Group segments. The company offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; kids' footwear; industrial work boots and apparel; and uniform shoes and boots.