Federated Hermes Inc. Sells 454,278 Shares of Wolverine World Wide, Inc. $WWW

Federated Hermes Inc. lowered its position in Wolverine World Wide, Inc. (NYSE:WWW) by 48.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 488,364 shares of the textile maker’s stock after selling 454,278 shares during the period. Federated Hermes Inc.’s holdings in Wolverine World Wide were worth $13,401,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in WWW. Hennessy Advisors Inc. purchased a new stake in Wolverine World Wide in the 3rd quarter valued at about $36,556,000. Callodine Capital Management LP increased its position in shares of Wolverine World Wide by 41.0% during the second quarter. Callodine Capital Management LP now owns 4,297,586 shares of the textile maker’s stock valued at $77,700,000 after acquiring an additional 1,250,515 shares during the last quarter. Cooper Creek Partners Management LLC bought a new stake in Wolverine World Wide during the second quarter worth $10,442,000. Goldman Sachs Group Inc. boosted its position in Wolverine World Wide by 55.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,504,571 shares of the textile maker’s stock worth $20,929,000 after purchasing an additional 537,854 shares during the last quarter. Finally, Jennison Associates LLC grew its stake in Wolverine World Wide by 46.6% in the 2nd quarter. Jennison Associates LLC now owns 1,083,962 shares of the textile maker’s stock valued at $19,598,000 after purchasing an additional 344,603 shares during the period. 90.25% of the stock is owned by institutional investors.

Wolverine World Wide Stock Performance

Shares of WWW stock opened at $17.72 on Friday. The firm’s 50 day moving average is $17.94 and its 200 day moving average is $22.75. The stock has a market capitalization of $1.45 billion, a P/E ratio of 17.03 and a beta of 1.92. Wolverine World Wide, Inc. has a 12 month low of $9.58 and a 12 month high of $32.80. The company has a current ratio of 1.34, a quick ratio of 0.79 and a debt-to-equity ratio of 1.40.

Wolverine World Wide (NYSE:WWW) last released its quarterly earnings data on Wednesday, November 5th. The textile maker reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. The business had revenue of $470.30 million during the quarter, compared to analyst estimates of $461.46 million. Wolverine World Wide had a net margin of 4.73% and a return on equity of 31.43%. Wolverine World Wide’s revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.28 EPS. Wolverine World Wide has set its FY 2025 guidance at 1.290-1.340 EPS. On average, sell-side analysts anticipate that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

WWW has been the topic of a number of recent analyst reports. Stifel Nicolaus set a $25.00 target price on Wolverine World Wide in a research note on Thursday, November 6th. Zacks Research downgraded shares of Wolverine World Wide from a “hold” rating to a “strong sell” rating in a report on Friday, January 2nd. Exane BNP Paribas lowered shares of Wolverine World Wide from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $38.00 to $19.00 in a research report on Thursday, January 22nd. KeyCorp reduced their target price on shares of Wolverine World Wide from $32.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. Finally, Robert W. Baird decreased their price target on shares of Wolverine World Wide from $35.00 to $23.00 and set an “outperform” rating for the company in a research note on Thursday, November 6th. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $21.11.

Insider Buying and Selling

In related news, Director Nicholas T. Long acquired 2,000 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were acquired at an average price of $15.88 per share, with a total value of $31,760.00. Following the acquisition, the director owned 78,268 shares of the company’s stock, valued at approximately $1,242,895.84. This trade represents a 2.62% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Amy M. Klimek sold 11,528 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $22.32, for a total value of $257,304.96. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have purchased 33,250 shares of company stock valued at $524,573. 2.28% of the stock is owned by company insiders.

Wolverine World Wide Company 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.