Dimensional Fund Advisors LP Decreases Stock Holdings in Wolverine World Wide, Inc. (NYSE:WWW)

Dimensional Fund Advisors LP lowered its holdings in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 3.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,047,877 shares of the textile maker’s stock after selling 42,478 shares during the quarter. Dimensional Fund Advisors LP owned 1.31% of Wolverine World Wide worth $14,167,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in WWW. Capstone Investment Advisors LLC purchased a new stake in Wolverine World Wide in the 1st quarter worth about $1,089,000. Manning & Napier Advisors LLC purchased a new stake in shares of Wolverine World Wide in the second quarter worth approximately $7,098,000. Federated Hermes Inc. lifted its stake in shares of Wolverine World Wide by 10,607.4% during the 2nd quarter. Federated Hermes Inc. now owns 540,402 shares of the textile maker’s stock worth $7,306,000 after acquiring an additional 535,355 shares during the last quarter. Intrinsic Edge Capital Management LLC purchased a new position in Wolverine World Wide during the 4th quarter valued at $2,563,000. Finally, SG Americas Securities LLC bought a new position in Wolverine World Wide in the 2nd quarter valued at $548,000. 90.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on WWW shares. Robert W. Baird upped their target price on Wolverine World Wide from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Telsey Advisory Group reissued a “market perform” rating and issued a $14.00 price objective on shares of Wolverine World Wide in a research note on Wednesday, August 7th. Piper Sandler reaffirmed an “overweight” rating and set a $18.00 target price on shares of Wolverine World Wide in a research report on Friday, August 23rd. UBS Group raised Wolverine World Wide from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $13.00 to $20.00 in a research report on Friday, July 19th. Finally, BNP Paribas raised Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 price objective on the stock in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.86.

Wolverine World Wide Trading Down 1.2 %

Shares of NYSE:WWW opened at $17.79 on Friday. The business’s 50-day moving average is $14.33 and its 200 day moving average is $12.96. The company has a debt-to-equity ratio of 2.14, a current ratio of 1.19 and a quick ratio of 0.74. Wolverine World Wide, Inc. has a 1 year low of $7.21 and a 1 year high of $18.51. The firm has a market capitalization of $1.42 billion, a P/E ratio of -19.13 and a beta of 1.77.

Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings results on Wednesday, August 7th. The textile maker reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.05. The business had revenue of $425.40 million for the quarter, compared to analyst estimates of $411.20 million. Wolverine World Wide had a negative return on equity of 0.34% and a negative net margin of 4.42%. The company’s revenue was down 27.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.19 earnings per share. On average, research analysts predict that Wolverine World Wide, Inc. will post 0.85 earnings per share for the current fiscal year.

Wolverine World Wide Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, 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 2.25%. The ex-dividend date is Tuesday, October 1st. Wolverine World Wide’s dividend payout ratio (DPR) is presently -43.01%.

Insider Buying and Selling

In other Wolverine World Wide news, insider David A. Latchana sold 7,706 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $17.02, for a total transaction of $131,156.12. Following the sale, the insider now owns 13,889 shares in the company, valued at approximately $236,390.78. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.28% of the stock is currently owned by company 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.