Jacobs Levy Equity Management Inc. Has $14.57 Million Holdings in Wolverine World Wide, Inc. $WWW

Key Points

• Jacobs Levy Equity Management Inc. sold 60,381 shares of Wolverine World Wide, Inc., reducing its stake by 5.5% to 1,047,340 shares, valued at approximately $14.57 million.
• Director Nicholas T. Long and Director Brenda J. Lauderback both sold 12,854 shares of the firm's stock, reducing their ownership by 14.42% and 20.89%, respectively.
• Wolverine World Wide recently reported quarterly earnings of $0.35 per share, surpassing analyst expectations, while also announcing a quarterly dividend of $0.10 to be paid on November 3rd.

Jacobs Levy Equity Management Inc. reduced its position in Wolverine World Wide, Inc. (NYSE:WWW - Free Report) by 5.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 1,047,340 shares of the textile maker's stock after selling 60,381 shares during the period. Jacobs Levy Equity Management Inc. owned about 1.29% of Wolverine World Wide worth $14,568,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Cambridge Investment Research Advisors Inc. acquired a new stake in Wolverine World Wide in the 1st quarter valued at about $608,000. Illinois Municipal Retirement Fund lifted its stake in Wolverine World Wide by 8.4% in the 1st quarter. Illinois Municipal Retirement Fund now owns 44,317 shares of the textile maker's stock valued at $616,000 after purchasing an additional 3,441 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new stake in Wolverine World Wide during the first quarter worth approximately $3,440,000. Nuveen Asset Management LLC lifted its position in Wolverine World Wide by 179.1% during the fourth quarter. Nuveen Asset Management LLC now owns 628,338 shares of the textile maker's stock worth $13,949,000 after acquiring an additional 403,176 shares during the last quarter. Finally, Jump Financial LLC acquired a new stake in Wolverine World Wide during the first quarter worth approximately $1,367,000. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Wolverine World Wide from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Argus upgraded shares of Wolverine World Wide from a "hold" rating to a "buy" rating and set a $20.00 price objective for the company in a research report on Friday, May 16th. Telsey Advisory Group restated a "market perform" rating and set a $29.00 price objective (up from $17.00) on shares of Wolverine World Wide in a research report on Wednesday, August 6th. Piper Sandler restated an "overweight" rating and set a $25.00 price objective (up from $20.00) on shares of Wolverine World Wide in a research report on Tuesday, August 5th. Finally, UBS Group raised their target price on shares of Wolverine World Wide from $30.00 to $36.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $27.50.

Wolverine World Wide Price Performance

NYSE:WWW traded down $0.65 during mid-day trading on Wednesday, reaching $30.88. The stock had a trading volume of 1,148,607 shares, compared to its average volume of 1,544,204. The stock has a 50-day simple moving average of $25.53 and a two-hundred day simple moving average of $18.58. The stock has a market capitalization of $2.51 billion, a PE ratio of 30.28 and a beta of 1.80. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.24 and a quick ratio of 0.75. Wolverine World Wide, Inc. has a 12 month low of $9.58 and a 12 month high of $32.80.

Wolverine World Wide (NYSE:WWW - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The textile maker reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 net margin of 4.73% and a return on equity of 31.99%. The firm's quarterly revenue was up 11.5% compared to the same quarter last year. During the same period last year, the firm posted $0.15 earnings per share. On average, equities analysts anticipate that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current year.

Wolverine World Wide Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Wednesday, October 1st will be paid 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 of this dividend is Wednesday, October 1st. Wolverine World Wide's payout ratio is presently 39.22%.

Insiders Place Their Bets

In other Wolverine World Wide news, Director Brenda J. Lauderback sold 12,854 shares of the business's stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $32.14, for a total transaction of $413,127.56. Following the sale, the director owned 48,675 shares of the company's stock, valued at approximately $1,564,414.50. The trade was a 20.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Nicholas T. Long sold 12,854 shares of the business's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $31.84, for a total transaction of $409,271.36. Following the sale, the director directly owned 76,268 shares in the company, valued at approximately $2,428,373.12. The trade was a 14.42% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.28% of the company's stock.

Wolverine World Wide Profile

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.