Investor Activity in Wolverine World Wide
Several institutional investors and hedge funds have recently traded shares of Wolverine World Wide (NYSE: WWW). Pacer Advisors bought a new stake worth about $64.3 million. Federated Hermes increased its holdings by over 10,600%, owning 540,402 shares valued at $7.3 million after acquiring more. Manning & Napier Advisors also invested $7.1 million, while Panagora and Lumbard & Kellner acquired stakes worth $4 million and $3.2 million, respectively. Overall, institutional investors hold 90.25% of the company’s shares.
Wolverine World Wide’s Stock Performance
As of Tuesday, Wolverine’s stock opened at $17.23, down 3.1%. The company has a quick ratio of 0.74 and a current ratio of 1.19. Its market cap is $1.38 billion, with a price-to-earnings ratio of -18.53.
Quarterly Earnings Report
Wolverine reported earnings on August 7, showing $0.15 earnings per share (EPS), surpassing estimates of $0.10. Revenue was $425.4 million, above the expected $411.2 million, but down 27.8% year-over-year.
Dividend Announcement
Wolverine declared a quarterly dividend of $0.10, to be paid on November 1. The annualized dividend is $0.40 with a yield of 2.32%. The ex-dividend date is October 1.
Insider Trading
Insider David A. Latchana sold 7,706 shares at $17.02, totaling approximately $131,156. The insider now holds 13,889 shares, valued at about $236,390. 2.28% of shares are owned by insiders.
Analyst Ratings
Analysts have rated Wolverine’s stock with a “Moderate Buy.” Piper Sandler targets $18, while UBS Group set a target of $20, upgrading from “neutral” to “buy.”
About Wolverine World Wide
Wolverine World Wide designs and markets footwear and apparel globally, through various segments. Their offerings include casual and performance footwear, and work-related apparel.
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