Principal Financial Group Inc. Raises Holdings in Wolverine World Wide, Inc. $WWW

Principal Financial Group Inc. increased its stake in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 27.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 510,731 shares of the textile maker’s stock after purchasing an additional 108,703 shares during the quarter. Principal Financial Group Inc.’s holdings in Wolverine World Wide were worth $14,014,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Callodine Capital Management LP boosted its stake in shares of Wolverine World Wide by 41.0% during the second quarter. Callodine Capital Management LP now owns 4,297,586 shares of the textile maker’s stock valued at $77,700,000 after purchasing an additional 1,250,515 shares during the period. Geode Capital Management LLC raised its holdings in Wolverine World Wide by 1.8% during the 2nd quarter. Geode Capital Management LLC now owns 1,869,339 shares of the textile maker’s stock valued at $33,802,000 after buying an additional 32,493 shares during the last quarter. Bank of America Corp DE boosted its position in Wolverine World Wide by 8.6% during the 2nd quarter. Bank of America Corp DE now owns 1,772,076 shares of the textile maker’s stock valued at $32,039,000 after buying an additional 139,913 shares during the period. Goldman Sachs Group Inc. grew its holdings in Wolverine World Wide by 55.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,504,571 shares of the textile maker’s stock worth $20,929,000 after acquiring an additional 537,854 shares during the last quarter. Finally, Hennessy Advisors Inc. purchased a new position in shares of Wolverine World Wide in the third quarter valued at about $36,556,000. 90.25% of the stock is owned by hedge funds and other institutional investors.

Wolverine World Wide Stock Down 0.3%

WWW stock opened at $18.15 on Wednesday. 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 market capitalization of $1.49 billion, a price-to-earnings ratio of 17.45 and a beta of 1.91. The business’s 50 day moving average price is $18.20 and its two-hundred day moving average price is $22.59. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.79 and a current ratio of 1.34.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on WWW. Stifel Nicolaus set a $25.00 target price on shares of Wolverine World Wide in a report on Thursday, November 6th. Wall Street Zen lowered Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. UBS Group cut their price objective on Wolverine World Wide from $28.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, January 8th. Piper Sandler downgraded Wolverine World Wide from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $22.00 to $16.00 in a report on Wednesday, January 7th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Wolverine World Wide in a research note on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $21.38.

Wolverine World Wide Company Profile

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.