Legal & General Group Plc Invests $2.99 Million in Wolverine World Wide, Inc. $WWW

Legal & General Group Plc purchased a new stake in shares of Wolverine World Wide, Inc. (NYSE:WWW) during the second quarter, Holdings Channel.com reports. The institutional investor purchased 181,111 shares of the textile maker’s stock, valued at approximately $2,994,000.

A number of other hedge funds and other institutional investors have also modified their holdings of WWW. BlackRock Inc. acquired a new stake in Wolverine World Wide in the second quarter worth about $204,878,000. Millennium Management LLC increased its stake in Wolverine World Wide by 1,740.2% during the 4th quarter. Millennium Management LLC now owns 1,204,127 shares of the textile maker’s stock valued at $21,855,000 after buying an additional 1,138,691 shares during the period. Callodine Capital Management LP raised its position in shares of Wolverine World Wide by 27.8% during the 1st quarter. Callodine Capital Management LP now owns 4,505,165 shares of the textile maker’s stock worth $73,524,000 after buying an additional 980,839 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Wolverine World Wide during the 2nd quarter worth about $13,557,000. Finally, Balyasny Asset Management L.P. lifted its stake in shares of Wolverine World Wide by 521.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 970,763 shares of the textile maker’s stock worth $17,619,000 after acquiring an additional 814,457 shares during the period. 90.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on WWW shares. Weiss Ratings upgraded shares of Wolverine World Wide from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, June 11th. Needham & Company LLC upped their target price on Wolverine World Wide from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Zacks Research lowered Wolverine World Wide from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Wall Street Zen raised Wolverine World Wide from a “hold” rating to a “buy” rating in a research note on Saturday, August 22nd. Finally, Robert W. Baird upped their price objective on Wolverine World Wide from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Friday, August 14th. Five investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $23.11.

Wolverine World Wide Stock Up 5.7%

WWW stock opened at $20.67 on Friday. The firm has a market cap of $1.70 billion, a PE ratio of 16.02, a P/E/G ratio of 1.41 and a beta of 1.72. Wolverine World Wide, Inc. has a 12 month low of $13.47 and a 12 month high of $32.80. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.55 and a quick ratio of 0.98. The firm has a 50 day simple moving average of $18.97 and a 200 day simple moving average of $17.66.

Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings results on Thursday, August 13th. The textile maker reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.02. The firm had revenue of $506.40 million for the quarter, compared to analyst estimates of $500.74 million. Wolverine World Wide had a net margin of 5.55% and a return on equity of 28.50%. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.32 earnings per share. Wolverine World Wide has set its FY 2026 guidance at 1.550-1.650 EPS. Equities research analysts forecast that Wolverine World Wide, Inc. will post 1.64 earnings per share for the current fiscal year.

Wolverine World Wide Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 1st will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Thursday, October 1st. Wolverine World Wide’s payout ratio is presently 31.01%.

About Wolverine World Wide

Wolverine World Wide, Inc (NYSE: WWW) is a global footwear and apparel company headquartered in Rockford, Michigan. The company designs, manufactures and markets a diversified portfolio of casual, active and performance lifestyle brands. Wolverine World Wide’s offerings span multiple price points and consumer segments, with products that include outdoor and trail footwear, running shoes, casual sneakers, boat shoes, work boots and related apparel and accessories.

Key brands in Wolverine World Wide’s portfolio include Merrell, an outdoor performance footwear brand; Saucony, known for running shoes and athletic gear; Sperry, which popularized boat shoes; Hush Puppies, a casual and comfort‐oriented line; and Keds, a heritage sneaker label.