Wolverine World Wide, Inc. $WWW Stake Lowered by Jennison Associates LLC

Jennison Associates LLC cut its stake in Wolverine World Wide, Inc. (NYSE:WWW) by 36.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 575,048 shares of the textile maker’s stock after selling 328,753 shares during the quarter. Jennison Associates LLC’s holdings in Wolverine World Wide were worth $9,385,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in Wolverine World Wide by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 8,988,758 shares of the textile maker’s stock valued at $163,146,000 after purchasing an additional 353,808 shares in the last quarter. Callodine Capital Management LP raised its stake in shares of Wolverine World Wide by 30.5% during the 4th quarter. Callodine Capital Management LP now owns 3,524,326 shares of the textile maker’s stock worth $63,967,000 after purchasing an additional 822,966 shares in the last quarter. State Street Corp raised its stake in shares of Wolverine World Wide by 2.1% during the 4th quarter. State Street Corp now owns 3,100,339 shares of the textile maker’s stock worth $56,271,000 after purchasing an additional 63,041 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Wolverine World Wide by 3.0% during the 4th quarter. JPMorgan Chase & Co. now owns 2,006,578 shares of the textile maker’s stock valued at $36,419,000 after buying an additional 59,304 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Wolverine World Wide by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 1,889,235 shares of the textile maker’s stock valued at $34,296,000 after buying an additional 10,423 shares in the last quarter. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on WWW shares. Robert W. Baird dropped their price objective on Wolverine World Wide from $27.00 to $24.00 and set an “outperform” rating on the stock in a report on Friday, May 15th. Telsey Advisory Group reduced their target price on shares of Wolverine World Wide from $22.00 to $18.00 and set a “market perform” rating for the company in a research note on Friday, May 15th. Wall Street Zen raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Weiss Ratings upgraded shares of Wolverine World Wide from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, June 11th. Finally, Zacks Research upgraded shares of Wolverine World Wide from a “hold” rating to a “strong-buy” rating in a report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $21.75.

Wolverine World Wide Stock Performance

NYSE:WWW opened at $18.67 on Wednesday. The firm has a market capitalization of $1.53 billion, a PE ratio of 15.06 and a beta of 1.75. Wolverine World Wide, Inc. has a 1 year low of $13.47 and a 1 year high of $32.80. The company has a current ratio of 1.53, a quick ratio of 0.89 and a debt-to-equity ratio of 1.26. The firm’s fifty day simple moving average is $16.99 and its 200 day simple moving average is $17.31.

Wolverine World Wide (NYSE:WWW) last released its quarterly earnings results on Thursday, May 14th. The textile maker reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.03. The company had revenue of $457.60 million during the quarter, compared to analysts’ expectations of $448.44 million. Wolverine World Wide had a net margin of 5.41% and a return on equity of 29.37%. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.18 earnings per share. Wolverine World Wide has set its FY 2026 guidance at 1.430-1.580 EPS. On average, sell-side analysts anticipate that Wolverine World Wide, Inc. will post 1.56 EPS for the current year.

Wolverine World Wide Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Wednesday, July 1st will be issued a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $0.40 dividend on an annualized basis and a yield of 2.1%. Wolverine World Wide’s dividend payout ratio (DPR) is 32.26%.

Insider Transactions at Wolverine World Wide

In other Wolverine World Wide news, Director Brenda J. Lauderback sold 5,500 shares of Wolverine World Wide stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $15.88, for a total value of $87,340.00. Following the transaction, the director directly owned 54,202 shares of the company’s stock, valued at $860,727.76. The trade was a 9.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.50% of the stock is owned by company insiders.

Wolverine World Wide Profile

Wolverine World Wide, Inc (NYSE: WWW) is a global footwear and apparel company headquartered in Rockford, Michigan. The company designs, manufactures and markets a diversified portfolio of casual, active and performance lifestyle brands. Wolverine World Wide’s offerings span multiple price points and consumer segments, with products that include outdoor and trail footwear, running shoes, casual sneakers, boat shoes, work boots and related apparel and accessories.

Key brands in Wolverine World Wide’s portfolio include Merrell, an outdoor performance footwear brand; Saucony, known for running shoes and athletic gear; Sperry, which popularized boat shoes; Hush Puppies, a casual and comfort‐oriented line; and Keds, a heritage sneaker label.