Wolverine World Wide, Inc. $WWW Stake Raised by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its holdings in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 2.3% in the second quarter, HoldingsChannel reports. The fund owned 647,041 shares of the textile maker’s stock after buying an additional 14,629 shares during the quarter. Bank of New York Mellon Corp’s holdings in Wolverine World Wide were worth $11,698,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in WWW. Hilltop National Bank purchased a new stake in shares of Wolverine World Wide in the second quarter worth approximately $85,000. PNC Financial Services Group Inc. increased its stake in Wolverine World Wide by 10.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,132 shares of the textile maker’s stock valued at $127,000 after buying an additional 863 shares during the period. GAMMA Investing LLC increased its stake in Wolverine World Wide by 48.7% in the 2nd quarter. GAMMA Investing LLC now owns 8,000 shares of the textile maker’s stock valued at $145,000 after buying an additional 2,619 shares during the period. Integrated Investment Consultants LLC lifted its position in Wolverine World Wide by 31.9% in the 1st quarter. Integrated Investment Consultants LLC now owns 15,137 shares of the textile maker’s stock worth $211,000 after buying an additional 3,665 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its stake in shares of Wolverine World Wide by 5.1% during the 2nd quarter. Teacher Retirement System of Texas now owns 12,300 shares of the textile maker’s stock valued at $222,000 after buying an additional 595 shares during the period. Institutional investors and hedge funds own 90.25% of the company’s stock.

Wolverine World Wide Price Performance

Shares of NYSE:WWW opened at $14.95 on Wednesday. The stock has a market capitalization of $1.23 billion, a P/E ratio of 14.66 and a beta of 1.83. The business has a 50-day moving average of $24.60 and a two-hundred day moving average of $22.72. 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 current ratio of 1.24 and a quick ratio of 0.75.

Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings data on Wednesday, November 5th. The textile maker reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. Wolverine World Wide had a return on equity of 31.99% and a net margin of 4.73%.The business had revenue of $470.30 million for the quarter, compared to the consensus estimate of $461.46 million. During the same period last year, the business earned $0.28 EPS. The firm’s revenue was up 6.8% compared to the same quarter last year. Wolverine World Wide has set its FY 2025 guidance at 1.290-1.340 EPS. On average, equities research analysts predict that Wolverine World Wide, Inc. will post 1.23 EPS for the current fiscal year.

Wolverine World Wide Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Friday, January 2nd will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Friday, January 2nd. Wolverine World Wide’s payout ratio is presently 38.46%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on WWW shares. Robert W. Baird dropped their price target on shares of Wolverine World Wide from $35.00 to $23.00 and set an “outperform” rating on the stock in a research note on Thursday, November 6th. Zacks Research downgraded Wolverine World Wide from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th. UBS Group cut their price target on Wolverine World Wide from $39.00 to $28.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Wolverine World Wide in a report on Thursday, November 13th. Finally, Stifel Nicolaus set a $25.00 price target on Wolverine World Wide in a research note on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $23.29.

Insider Buying and Selling at Wolverine World Wide

In other news, Director Nicholas T. Long bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were purchased at an average price of $15.88 per share, for a total transaction of $31,760.00. Following the acquisition, the director directly owned 78,268 shares of the company’s stock, valued at $1,242,895.84. The trade was a 2.62% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Amy M. Klimek sold 11,528 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $22.32, for a total transaction of $257,304.96. The SEC filing for this sale provides additional information. In the last quarter, insiders purchased 33,250 shares of company stock worth $524,573 and sold 37,236 shares worth $1,079,704. 2.28% of the stock is currently owned by corporate insiders.

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.