Canada Pension Plan Investment Board Purchases New Shares in Wolverine World Wide, Inc. (NYSE:WWW)

Canada Pension Plan Investment Board acquired a new position in Wolverine World Wide, Inc. (NYSE:WWW) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 5,000 shares of the textile maker’s stock, valued at approximately $68,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WWW. Intech Investment Management LLC bought a new position in shares of Wolverine World Wide in the second quarter valued at approximately $508,000. MQS Management LLC bought a new position in Wolverine World Wide in the 2nd quarter valued at $163,000. XTX Topco Ltd purchased a new stake in shares of Wolverine World Wide during the 2nd quarter valued at $146,000. Hsbc Holdings PLC raised its stake in shares of Wolverine World Wide by 9.3% during the 2nd quarter. Hsbc Holdings PLC now owns 11,425 shares of the textile maker’s stock worth $153,000 after purchasing an additional 973 shares during the period. Finally, WINTON GROUP Ltd purchased a new position in shares of Wolverine World Wide in the 2nd quarter worth about $1,966,000. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on WWW. Piper Sandler reaffirmed an “overweight” rating and issued a $18.00 price objective on shares of Wolverine World Wide in a research report on Friday, August 23rd. Argus upgraded Wolverine World Wide to a “hold” rating in a research note on Friday, August 16th. Telsey Advisory Group restated 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. KeyCorp upgraded shares of Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 target price for the company in a research report on Thursday, August 8th. Finally, UBS Group raised shares of Wolverine World Wide from a “neutral” rating to a “buy” rating and boosted their price target for the company from $13.00 to $20.00 in a research report on Friday, July 19th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Wolverine World Wide has a consensus rating of “Moderate Buy” and a consensus price target of $17.17.

Wolverine World Wide Trading Up 1.9 %

Shares of Wolverine World Wide stock opened at $17.51 on Monday. The company’s 50-day moving average price is $14.02 and its 200-day moving average price is $12.70. The company has a current ratio of 1.19, a quick ratio of 0.74 and a debt-to-equity ratio of 2.14. Wolverine World Wide, Inc. has a 12-month low of $7.21 and a 12-month high of $17.57. The company has a market cap of $1.40 billion, a price-to-earnings ratio of -18.83 and a beta of 1.76.

Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings results on Wednesday, August 7th. The textile maker reported $0.15 EPS for the quarter, beating the consensus estimate of $0.10 by $0.05. The firm had revenue of $425.40 million during the quarter, compared to the consensus estimate of $411.20 million. Wolverine World Wide had a negative net margin of 4.42% and a negative return on equity of 0.34%. The business’s quarterly revenue was down 27.8% compared to the same quarter last year. During the same period last year, the firm earned $0.19 EPS. On average, equities analysts expect that Wolverine World Wide, Inc. will post 0.85 earnings per share for the current fiscal year.

Wolverine World Wide Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 1st will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend is Tuesday, October 1st. Wolverine World Wide’s payout ratio is -43.01%.

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.