WCM Investment Management LLC Raises Position in Wolverine World Wide, Inc. $WWW

WCM Investment Management LLC boosted its position in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 78.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,008,395 shares of the textile maker’s stock after buying an additional 442,649 shares during the period. WCM Investment Management LLC’s holdings in Wolverine World Wide were worth $27,499,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Hara Capital LLC purchased a new stake in shares of Wolverine World Wide during the second quarter worth approximately $30,000. Canada Pension Plan Investment Board acquired a new stake in Wolverine World Wide during the 2nd quarter worth $34,000. Covestor Ltd grew its holdings in shares of Wolverine World Wide by 16,025.0% during the third quarter. Covestor Ltd now owns 1,290 shares of the textile maker’s stock worth $35,000 after buying an additional 1,282 shares in the last quarter. Hilltop National Bank acquired a new stake in shares of Wolverine World Wide in the second quarter valued at about $85,000. Finally, AlphaQuest LLC lifted its stake in shares of Wolverine World Wide by 370.0% in the third quarter. AlphaQuest LLC now owns 3,257 shares of the textile maker’s stock worth $89,000 after buying an additional 2,564 shares in the last quarter. 90.25% of the stock is owned by institutional investors and hedge funds.

Wolverine World Wide Trading Up 2.7%

WWW opened at $18.20 on Tuesday. The stock has a market capitalization of $1.49 billion, a PE ratio of 17.50 and a beta of 1.91. Wolverine World Wide, Inc. has a one year low of $9.58 and a one year high of $32.80. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.79 and a current ratio of 1.34. The business’s 50 day moving average price is $18.00 and its 200 day moving average price is $22.76.

Wolverine World Wide (NYSE:WWW) last posted its earnings results on Wednesday, November 5th. The textile maker reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. Wolverine World Wide had a return on equity of 31.43% and a net margin of 4.73%.The company had revenue of $470.30 million for the quarter, compared to the consensus estimate of $461.46 million. During the same quarter in the previous year, the business earned $0.28 earnings per share. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. Wolverine World Wide has set its FY 2025 guidance at 1.290-1.340 EPS. As a group, equities research analysts expect that Wolverine World Wide, Inc. will post 1.23 EPS for the current year.

Insider Activity at Wolverine World Wide

In related news, Director Demonty Price bought 25,000 shares of the stock in a transaction on Friday, November 7th. The stock was bought at an average price of $15.77 per share, with a total value of $394,250.00. Following the completion of the purchase, the director directly owned 75,000 shares in the company, valued at $1,182,750. This represents a 50.00% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jack Boyle purchased 6,250 shares of the company’s stock in a transaction on Friday, November 7th. The shares were bought at an average price of $15.77 per share, with a total value of $98,562.50. Following the completion of the transaction, the director owned 6,250 shares of the company’s stock, valued at approximately $98,562.50. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have purchased 33,250 shares of company stock worth $524,573. Company insiders own 2.28% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on WWW shares. KeyCorp dropped their price objective on shares of Wolverine World Wide from $32.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. Stifel Nicolaus set a $25.00 price target on Wolverine World Wide in a research report on Thursday, November 6th. UBS Group cut their price target on Wolverine World Wide from $28.00 to $26.00 and set a “buy” rating for the company in a report on Thursday, January 8th. Piper Sandler lowered Wolverine World Wide from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $22.00 to $16.00 in a research note on Wednesday, January 7th. Finally, Argus restated a “hold” rating on shares of Wolverine World Wide in a report on Friday, January 23rd. Four analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Wolverine World Wide has a consensus rating of “Hold” and an average price target of $21.11.

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.