Wolverine World Wide, Inc. $WWW Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its stake in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 35.5% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 474,636 shares of the textile maker’s stock after selling 261,622 shares during the period. New York State Common Retirement Fund owned approximately 0.58% of Wolverine World Wide worth $13,024,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Callodine Capital Management LP boosted 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 worth $77,700,000 after buying an additional 1,250,515 shares during the period. Geode Capital Management LLC boosted its holdings in Wolverine World Wide by 1.8% during the 2nd quarter. Geode Capital Management LLC now owns 1,869,339 shares of the textile maker’s stock valued at $33,802,000 after acquiring an additional 32,493 shares during the period. Bank of America Corp DE grew its position in Wolverine World Wide by 8.6% in the 2nd quarter. Bank of America Corp DE now owns 1,772,076 shares of the textile maker’s stock valued at $32,039,000 after acquiring an additional 139,913 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Wolverine World Wide by 55.6% during 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 period. Finally, Hennessy Advisors Inc. acquired a new stake in shares of Wolverine World Wide during the third quarter worth about $36,556,000. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on WWW shares. Weiss Ratings restated a “hold (c-)” rating on shares of Wolverine World Wide in a report on Monday, December 29th. UBS Group decreased their price target on shares of Wolverine World Wide from $28.00 to $26.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Zacks Research downgraded shares of Wolverine World Wide from a “hold” rating to a “strong sell” rating in a research note on Friday, January 2nd. Exane BNP Paribas cut Wolverine World Wide from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $38.00 to $19.00 in a research note on Thursday, January 22nd. Finally, Piper Sandler lowered Wolverine World Wide from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $22.00 to $16.00 in a report on Wednesday, January 7th. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Wolverine World Wide has a consensus rating of “Hold” and an average price target of $21.11.

Wolverine World Wide Stock Performance

NYSE:WWW opened at $18.20 on Tuesday. Wolverine World Wide, Inc. has a 12 month low of $9.58 and a 12 month high of $32.80. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.34 and a quick ratio of 0.79. The firm has a market capitalization of $1.49 billion, a PE ratio of 17.50 and a beta of 1.91. The business’s fifty day moving average price is $18.00 and its 200 day moving average price is $22.76.

Wolverine World Wide (NYSE:WWW) last released its quarterly earnings data on Wednesday, November 5th. The textile maker reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $470.30 million during the quarter, compared to analysts’ expectations of $461.46 million. During the same period in the prior year, the firm posted $0.28 EPS. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. 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 fiscal year.

Insider Transactions at Wolverine World Wide

In related news, Director Nicholas T. Long bought 2,000 shares of the stock in a transaction dated Friday, November 7th. The stock was acquired at an average price of $15.88 per share, for a total transaction of $31,760.00. Following the acquisition, the director owned 78,268 shares in the company, valued at approximately $1,242,895.84. This represents a 2.62% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Demonty Price purchased 25,000 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The shares were bought at an average price of $15.77 per share, for a total transaction 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 ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders purchased 33,250 shares of company stock worth $524,573. 2.28% of the stock is currently owned by insiders.

About Wolverine World Wide

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.