Wolverine World Wide, Inc. (NYSE:WWW) Position Cut by Verition Fund Management LLC

Verition Fund Management LLC trimmed its holdings in shares of Wolverine World Wide, Inc. (NYSE:WWW - Free Report) by 61.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 76,063 shares of the textile maker's stock after selling 122,965 shares during the quarter. Verition Fund Management LLC owned approximately 0.09% of Wolverine World Wide worth $1,325,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of WWW. Future Financial Wealth Managment LLC purchased a new position in shares of Wolverine World Wide in the 3rd quarter valued at $35,000. Canada Pension Plan Investment Board purchased a new position in Wolverine World Wide in the second quarter valued at about $68,000. Cedar Mountain Advisors LLC bought a new position in Wolverine World Wide in the third quarter worth about $70,000. GAMMA Investing LLC raised its holdings in Wolverine World Wide by 15.9% in the third quarter. GAMMA Investing LLC now owns 4,494 shares of the textile maker's stock worth $78,000 after purchasing an additional 616 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Wolverine World Wide in the 2nd quarter valued at about $146,000. Institutional investors own 90.25% of the company's stock.

Insiders Place Their Bets

In related news, insider Amy M. Klimek sold 24,000 shares of the business's stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $22.07, for a total value of $529,680.00. Following the completion of the sale, the insider now directly owns 20,238 shares of the company's stock, valued at $446,652.66. The trade was a 54.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider David A. Latchana sold 7,706 shares of Wolverine World Wide stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $17.02, for a total value of $131,156.12. Following the completion of the transaction, the insider now owns 13,889 shares of the company's stock, valued at approximately $236,390.78. The trade was a 35.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,920 shares of company stock worth $866,240 over the last ninety days. 2.28% of the stock is owned by company insiders.

Wolverine World Wide Price Performance

WWW stock traded up $0.01 on Friday, reaching $22.99. The company had a trading volume of 677,197 shares, compared to its average volume of 970,682. The company has a market cap of $1.84 billion, a P/E ratio of -25.83 and a beta of 1.89. The company's fifty day moving average is $19.18 and its 200 day moving average is $15.60. Wolverine World Wide, Inc. has a 1 year low of $7.58 and a 1 year high of $24.16. 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 2nd will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.74%. Wolverine World Wide's dividend payout ratio (DPR) is presently -44.94%.

Analyst Upgrades and Downgrades

WWW has been the subject of a number of analyst reports. Piper Sandler reissued an "overweight" rating and set a $18.00 target price on shares of Wolverine World Wide in a research report on Friday, August 23rd. Argus upgraded shares of Wolverine World Wide to a "hold" rating in a research note on Friday, August 16th. Telsey Advisory Group restated a "market perform" rating and set a $15.00 price target on shares of Wolverine World Wide in a research report on Thursday, November 7th. Finally, BNP Paribas raised shares of Wolverine World Wide from a "neutral" rating to an "outperform" rating and set a $22.00 price objective on the stock in a report on Thursday, October 3rd. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $18.00.

Wolverine World Wide 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.