Rhumbline Advisers Sells 5,892 Shares of Wolverine World Wide, Inc. (NYSE:WWW)

Rhumbline Advisers lowered its holdings in Wolverine World Wide, Inc. (NYSE:WWW) by 2.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 243,515 shares of the textile maker’s stock after selling 5,892 shares during the quarter. Rhumbline Advisers owned approximately 0.30% of Wolverine World Wide worth $3,292,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Manning & Napier Advisors LLC purchased a new stake in Wolverine World Wide during the 2nd quarter worth approximately $7,098,000. Panagora Asset Management Inc. purchased a new stake in Wolverine World Wide during the 2nd quarter worth approximately $3,979,000. Intrinsic Edge Capital Management LLC purchased a new stake in Wolverine World Wide during the 4th quarter worth approximately $2,563,000. Lumbard & Kellner LLC purchased a new stake in Wolverine World Wide during the 1st quarter worth approximately $3,211,000. Finally, Charles Schwab Investment Management Inc. grew its position in Wolverine World Wide by 6.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,771,991 shares of the textile maker’s stock worth $15,753,000 after purchasing an additional 103,368 shares during the last quarter. Institutional investors own 90.25% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $18.00 price objective on shares of Wolverine World Wide in a report on Friday, August 23rd. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $14.00 price objective on shares of Wolverine World Wide in a report on Wednesday, August 7th. UBS Group raised shares of Wolverine World Wide from a “neutral” rating to a “buy” rating and upped their price objective for the company from $13.00 to $20.00 in a report on Friday, July 19th. Argus raised shares of Wolverine World Wide to a “hold” rating in a report on Friday, August 16th. Finally, Robert W. Baird upped their price objective on shares of Wolverine World Wide from $13.00 to $15.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $17.17.

Wolverine World Wide Stock Up 0.6 %

WWW opened at $15.06 on Wednesday. The company has a debt-to-equity ratio of 2.14, a current ratio of 1.19 and a quick ratio of 0.74. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of -16.19 and a beta of 1.76. The business has a 50-day moving average of $13.53 and a two-hundred day moving average of $12.37. Wolverine World Wide, Inc. has a 12 month low of $7.21 and a 12 month high of $15.30.

Wolverine World Wide (NYSE:WWW) last released 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. Wolverine World Wide had a negative return on equity of 0.34% and a negative net margin of 4.42%. The firm had revenue of $425.40 million during the quarter, compared to analysts’ expectations of $411.20 million. During the same quarter in the prior year, the business earned $0.19 EPS. Wolverine World Wide’s quarterly revenue was down 27.8% compared to the same quarter last year. On average, research analysts expect that Wolverine World Wide, Inc. will post 0.85 earnings per share for the current year.

Wolverine World Wide Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 1st will be paid a $0.10 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $0.40 annualized dividend and a dividend yield of 2.66%. Wolverine World Wide’s payout ratio is -43.01%.

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.