Public Sector Pension Investment Board Sells 6,100 Shares of Wolverine World Wide, Inc. (NYSE:WWW)

Public Sector Pension Investment Board lessened its holdings in Wolverine World Wide, Inc. (NYSE:WWW) by 3.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 169,799 shares of the textile maker’s stock after selling 6,100 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.21% of Wolverine World Wide worth $2,958,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. BNP Paribas Financial Markets lifted its position in shares of Wolverine World Wide by 31.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 41,586 shares of the textile maker’s stock worth $724,000 after purchasing an additional 9,927 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Wolverine World Wide by 26.2% in the third quarter. The Manufacturers Life Insurance Company now owns 38,507 shares of the textile maker’s stock valued at $671,000 after buying an additional 7,995 shares during the period. Landscape Capital Management L.L.C. bought a new stake in Wolverine World Wide during the third quarter valued at $3,034,000. Intech Investment Management LLC lifted its stake in shares of Wolverine World Wide by 5.0% in the 3rd quarter. Intech Investment Management LLC now owns 39,412 shares of the textile maker’s stock valued at $687,000 after purchasing an additional 1,866 shares during the period. Finally, Jennison Associates LLC bought a new position in Wolverine World Wide during the third quarter worth $10,974,000. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider David A. Latchana sold 7,706 shares of Wolverine World Wide stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $17.02, for a total transaction of $131,156.12. Following the completion of the sale, the insider now owns 13,889 shares in the company, valued at $236,390.78. This trade represents a 35.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Amy M. Klimek sold 24,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $22.07, for a total transaction of $529,680.00. Following the transaction, the insider now directly owns 20,238 shares in the company, valued at $446,652.66. This trade represents a 54.25 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,920 shares of company stock valued at $866,240. 2.28% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. 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. KeyCorp raised shares of Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 price target on the stock in a report on Thursday, August 8th. Robert W. Baird raised their price objective on shares of 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 restated a “market perform” rating and issued a $15.00 target price on shares of Wolverine World Wide in a research note on Thursday, November 7th. Finally, Argus raised shares of Wolverine World Wide to a “hold” rating in a report on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating and six have assigned 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 $18.00.

Wolverine World Wide Trading Up 0.6 %

Shares of NYSE WWW opened at $23.68 on Wednesday. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.77 and a current ratio of 1.23. Wolverine World Wide, Inc. has a 52-week low of $7.58 and a 52-week high of $24.09. The company has a market cap of $1.90 billion, a PE ratio of -26.61 and a beta of 1.89. The firm’s 50 day moving average price is $18.80 and its 200-day moving average price is $15.38.

Wolverine World Wide Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Thursday, January 2nd. Wolverine World Wide’s payout ratio is currently -44.94%.

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.