Natixis Advisors L.P. Buys Shares of 198,679 Wolverine World Wide, Inc. (NYSE:WWW)

Posted by Defense World Staff on Sep 2nd, 2023

Natixis Advisors L.P. bought a new position in Wolverine World Wide, Inc. (NYSE:WWW – Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 198,679 shares of the textile maker’s stock, valued at approximately $3,388,000. Natixis Advisors L.P. owned 0.25% of Wolverine World Wide as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Versant Capital Management Inc boosted its position in Wolverine World Wide by 182.5% during the 1st quarter. Versant Capital Management Inc now owns 1,667 shares of the textile maker’s stock worth $28,000 after acquiring an additional 1,077 shares during the period. Eagle Bay Advisors LLC boosted its holdings in shares of Wolverine World Wide by 43.3% during the first quarter. Eagle Bay Advisors LLC now owns 3,999 shares of the textile maker’s stock worth $29,000 after purchasing an additional 1,209 shares during the period. Allspring Global Investments Holdings LLC grew its position in Wolverine World Wide by 187.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,321 shares of the textile maker’s stock valued at $40,000 after purchasing an additional 1,514 shares in the last quarter. UBS Group AG increased its stake in Wolverine World Wide by 114.9% in the 3rd quarter. UBS Group AG now owns 6,315 shares of the textile maker’s stock valued at $97,000 after buying an additional 3,376 shares during the period. Finally, Point72 Middle East FZE purchased a new stake in Wolverine World Wide in the 4th quarter worth approximately $115,000. Hedge funds and other institutional investors own 93.66% of the company’s stock.

Wolverine World Wide Trading Up 9.0 %

Shares of WWW stock opened at $8.81 on Friday. Wolverine World Wide, Inc. has a 12 month low of $7.90 and a 12 month high of $20.79. The company has a market cap of $700.53 million, a PE ratio of -2.46 and a beta of 1.65. The company has a quick ratio of 0.54, a current ratio of 1.21 and a debt-to-equity ratio of 1.96. The business’s 50 day moving average is $11.52 and its two-hundred day moving average is $14.25.

Wolverine World Wide (NYSE:WWW – Get Free Report) last posted its quarterly earnings data on Thursday, August 10th. The textile maker reported $0.19 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.19. The business had revenue of $589.10 million during the quarter, compared to the consensus estimate of $582.97 million. Wolverine World Wide had a negative net margin of 10.99% and a positive return on equity of 11.70%. Wolverine World Wide’s quarterly revenue was down 17.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.66 EPS. Equities analysts predict that Wolverine World Wide, Inc. will post 0.48 EPS for the current year.

Wolverine World Wide Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Monday, October 2nd will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, September 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.54%. Wolverine World Wide’s payout ratio is presently -11.17%.

Insider Buying and Selling

In other Wolverine World Wide news, Director Jeffrey M. Boromisa purchased 3,500 shares of the company’s stock in a transaction on Friday, August 18th. The shares were bought at an average cost of $8.35 per share, with a total value of $29,225.00. Following the transaction, the director now directly owns 160,400 shares in the company, valued at approximately $1,339,340. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Wolverine World Wide news, Director Jeffrey M. Boromisa acquired 3,500 shares of Wolverine World Wide stock in a transaction dated Friday, August 18th. The stock was bought at an average cost of $8.35 per share, with a total value of $29,225.00. Following the completion of the transaction, the director now owns 160,400 shares of the company’s stock, valued at $1,339,340. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brenda J. Lauderback sold 3,050 shares of the business’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $13.68, for a total transaction of $41,724.00. Following the transaction, the director now directly owns 32,345 shares in the company, valued at approximately $442,479.60. The disclosure for this sale can be found here. 4.73% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on WWW shares. Telsey Advisory Group dropped their price target on shares of Wolverine World Wide from $18.00 to $10.00 and set a “market perform” rating on the stock in a research note on Friday, August 11th. William Blair reiterated a “hold” rating and set a $12.00 price target (down from $23.00) on shares of Wolverine World Wide in a report on Friday, August 11th. Williams Trading downgraded Wolverine World Wide from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $23.00 to $12.00 in a report on Friday, August 11th. Piper Sandler reduced their target price on shares of Wolverine World Wide from $17.00 to $13.00 and set a “neutral” rating for the company in a research note on Friday, August 11th. Finally, Robert W. Baird boosted their target price on shares of Wolverine World Wide from $13.00 to $15.00 in a research report on Thursday, May 11th. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $11.89.

Check Out Our Latest Research Report on Wolverine World Wide

Wolverine World Wide Profile

(Free Report)

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, Work Group, Lifestyle 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.