629,950 Shares in Wolverine World Wide, Inc. (NYSE:WWW) Acquired by Jennison Associates LLC

Jennison Associates LLC acquired a new stake in Wolverine World Wide, Inc. (NYSE:WWW - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 629,950 shares of the textile maker's stock, valued at approximately $10,974,000. Jennison Associates LLC owned approximately 0.79% of Wolverine World Wide at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of WWW. Earnest Partners LLC increased its position in shares of Wolverine World Wide by 1.7% in the 2nd quarter. Earnest Partners LLC now owns 5,321,797 shares of the textile maker's stock valued at $71,951,000 after purchasing an additional 90,407 shares during the last quarter. Pacer Advisors Inc. purchased a new stake in Wolverine World Wide during the second quarter worth approximately $64,295,000. Bank of New York Mellon Corp increased its stake in Wolverine World Wide by 6.5% in the second quarter. Bank of New York Mellon Corp now owns 994,443 shares of the textile maker's stock valued at $13,445,000 after purchasing an additional 60,481 shares during the last quarter. Federated Hermes Inc. raised its holdings in Wolverine World Wide by 10,607.4% during the second quarter. Federated Hermes Inc. now owns 540,402 shares of the textile maker's stock worth $7,306,000 after purchasing an additional 535,355 shares in the last quarter. Finally, Manning & Napier Advisors LLC acquired a new stake in Wolverine World Wide during the second quarter worth approximately $7,098,000. Institutional investors and hedge funds own 90.25% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Piper Sandler restated an "overweight" rating and set a $18.00 price target on shares of Wolverine World Wide in a research note on Friday, August 23rd. KeyCorp raised Wolverine World Wide from a "sector weight" rating to an "overweight" rating and set a $20.00 price target for the company in a report on Thursday, August 8th. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $15.00 target price on shares of Wolverine World Wide in a report on Thursday, November 7th. Argus raised shares of Wolverine World Wide to a "hold" rating in a report on Friday, August 16th. Finally, Robert W. Baird lifted their price objective on Wolverine World Wide from $13.00 to $15.00 and gave the company a "neutral" rating in a report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $18.00.

Insider Buying and Selling at Wolverine World Wide

In other 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 directly owns 13,889 shares in the company, valued at $236,390.78. The trade was a 35.68 % decrease in their ownership of the stock. 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 company's stock in a transaction that occurred on 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. The trade was a 54.25 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,920 shares of company stock worth $866,240. 2.28% of the stock is owned by insiders.

Wolverine World Wide Price Performance

NYSE WWW traded up $0.52 during mid-day trading on Friday, hitting $23.40. The stock had a trading volume of 1,179,933 shares, compared to its average volume of 1,311,105. The company has a 50 day simple moving average of $17.67 and a 200 day simple moving average of $14.87. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 1.91. The company has a market cap of $1.87 billion, a price-to-earnings ratio of -26.29 and a beta of 1.78. Wolverine World Wide, Inc. has a 52-week low of $7.58 and a 52-week high of $23.73.

Wolverine World Wide Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 2nd will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date is Thursday, January 2nd. Wolverine World Wide's dividend payout ratio (DPR) is presently -44.94%.

Wolverine World Wide Company Profile

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.