Manning & Napier Advisors LLC Sells 113,997 Shares of Wolverine World Wide, Inc. (NYSE:WWW)

Manning & Napier Advisors LLC reduced its holdings in shares of Wolverine World Wide, Inc. (NYSE:WWW - Free Report) by 19.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 486,003 shares of the textile maker's stock after selling 113,997 shares during the quarter. Manning & Napier Advisors LLC owned 0.61% of Wolverine World Wide worth $10,789,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. GAMMA Investing LLC increased its position in shares of Wolverine World Wide by 12.5% in the 4th quarter. GAMMA Investing LLC now owns 5,057 shares of the textile maker's stock worth $112,000 after purchasing an additional 563 shares during the last quarter. Hsbc Holdings PLC grew its stake in Wolverine World Wide by 9.3% in the second quarter. Hsbc Holdings PLC now owns 11,425 shares of the textile maker's stock worth $153,000 after purchasing an additional 973 shares in the last quarter. KBC Group NV increased its holdings in Wolverine World Wide by 43.8% in the fourth quarter. KBC Group NV now owns 4,303 shares of the textile maker's stock valued at $96,000 after buying an additional 1,311 shares during the last quarter. Intech Investment Management LLC raised its stake in Wolverine World Wide by 5.0% during the third quarter. Intech Investment Management LLC now owns 39,412 shares of the textile maker's stock valued at $687,000 after buying an additional 1,866 shares in the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new stake in Wolverine World Wide during the third quarter valued at approximately $35,000. Institutional investors and hedge funds own 90.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on WWW shares. Stifel Nicolaus raised Wolverine World Wide from a "hold" rating to a "buy" rating and upped their price target for the company from $21.00 to $29.00 in a research report on Wednesday, December 11th. StockNews.com upgraded shares of Wolverine World Wide from a "hold" rating to a "buy" rating in a research report on Wednesday, January 22nd. BNP Paribas raised shares of Wolverine World Wide from a "neutral" rating to an "outperform" rating and set a $22.00 price target for the company in a report on Thursday, October 3rd. Finally, Telsey Advisory Group reiterated a "market perform" rating and set a $15.00 price objective on shares of Wolverine World Wide in a research note on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $19.38.

Wolverine World Wide Stock Performance

WWW stock traded up $1.08 during trading on Thursday, reaching $24.20. 340,080 shares of the company's stock were exchanged, compared to its average volume of 1,081,887. The firm has a market cap of $1.94 billion, a PE ratio of -27.16 and a beta of 1.88. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 1.91. Wolverine World Wide, Inc. has a 1-year low of $8.05 and a 1-year high of $24.64. The company's fifty day moving average price is $22.95 and its 200-day moving average price is $18.14.

Insider Transactions at Wolverine World Wide

In other Wolverine World Wide news, insider Amy M. Klimek sold 24,000 shares of the company's stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $22.07, for a total value of $529,680.00. Following the transaction, the insider now owns 20,238 shares of the company's stock, valued at approximately $446,652.66. This represents a 54.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Isabel Soriano sold 7,687 shares of the business's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $23.57, for a total value of $181,182.59. Following the sale, the insider now directly owns 34,206 shares in the company, valued at $806,235.42. This trade represents a 18.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,901 shares of company stock valued at $916,266. Corporate insiders own 2.28% of the company's stock.

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.