Federated Hermes Inc. Sells 454,278 Shares of Wolverine World Wide, Inc. $WWW

Federated Hermes Inc. lessened its position in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 48.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 488,364 shares of the textile maker’s stock after selling 454,278 shares during the quarter. Federated Hermes Inc. owned approximately 0.60% of Wolverine World Wide worth $13,401,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Hara Capital LLC bought a new stake in shares of Wolverine World Wide in the 2nd quarter valued at $30,000. Canada Pension Plan Investment Board bought a new position in Wolverine World Wide during the second quarter worth $34,000. Covestor Ltd lifted its holdings in Wolverine World Wide by 16,025.0% in the third quarter. Covestor Ltd now owns 1,290 shares of the textile maker’s stock valued at $35,000 after buying an additional 1,282 shares during the period. Hilltop National Bank bought a new stake in Wolverine World Wide during the second quarter valued at $85,000. Finally, Tower Research Capital LLC TRC grew its holdings in Wolverine World Wide by 109.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 10,775 shares of the textile maker’s stock worth $195,000 after acquiring an additional 5,620 shares during the period. Institutional investors and hedge funds own 90.25% of the company’s stock.

Wolverine World Wide Price Performance

Shares of WWW opened at $17.72 on Friday. The business’s fifty day moving average is $17.94 and its 200 day moving average is $22.75. Wolverine World Wide, Inc. has a 12-month low of $9.58 and a 12-month high of $32.80. The company has a quick ratio of 0.79, a current ratio of 1.34 and a debt-to-equity ratio of 1.40. The stock has a market cap of $1.45 billion, a P/E ratio of 17.03 and a beta of 1.92.

Wolverine World Wide (NYSE:WWW) last released its quarterly earnings data on Wednesday, November 5th. The textile maker reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.03. Wolverine World Wide had a net margin of 4.73% and a return on equity of 31.43%. The firm had revenue of $470.30 million for the quarter, compared to the consensus estimate of $461.46 million. During the same quarter in the prior year, the company posted $0.28 earnings per share. The business’s revenue 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. Sell-side analysts anticipate that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current fiscal year.

Insider Buying and Selling at Wolverine World Wide

In related news, Director Demonty Price acquired 25,000 shares of the stock in a transaction dated Friday, November 7th. The stock was purchased at an average cost 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 trade represents a 50.00% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Nicholas T. Long bought 2,000 shares of the company’s stock in a transaction dated Friday, November 7th. The stock was bought at an average price of $15.88 per share, for a total transaction of $31,760.00. Following the acquisition, the director directly owned 78,268 shares of the company’s stock, valued at approximately $1,242,895.84. This represents a 2.62% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have purchased 33,250 shares of company stock worth $524,573. 2.28% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Wolverine World Wide in a research note on Monday, December 29th. Robert W. Baird lowered their target price on Wolverine World Wide from $35.00 to $23.00 and set an “outperform” rating for the company in a report on Thursday, November 6th. Wall Street Zen lowered Wolverine World Wide from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. Exane BNP Paribas cut Wolverine World Wide from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $38.00 to $19.00 in a report on Thursday, January 22nd. Finally, Argus reiterated a “hold” rating on shares of Wolverine World Wide in a research note on Friday, January 23rd. 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 company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $21.11.

Wolverine World Wide Company 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.