Principal Financial Group Inc. Cuts Stock Position in Wolverine World Wide, Inc. (NYSE:WWW)

Principal Financial Group Inc. lessened its position in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 4.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 379,042 shares of the textile maker’s stock after selling 18,119 shares during the quarter. Principal Financial Group Inc.’s holdings in Wolverine World Wide were worth $6,603,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of WWW. Federated Hermes Inc. increased its position in shares of Wolverine World Wide by 10,607.4% during the second quarter. Federated Hermes Inc. now owns 540,402 shares of the textile maker’s stock worth $7,306,000 after purchasing an additional 535,355 shares in the last quarter. US Bancorp DE grew its stake in Wolverine World Wide by 487.8% during the 3rd quarter. US Bancorp DE now owns 36,776 shares of the textile maker’s stock worth $641,000 after buying an additional 30,519 shares during the last quarter. Landscape Capital Management L.L.C. acquired a new position in Wolverine World Wide during the 3rd quarter valued at about $3,034,000. XTX Topco Ltd raised its stake in Wolverine World Wide by 338.6% in the third quarter. XTX Topco Ltd now owns 47,346 shares of the textile maker’s stock valued at $825,000 after buying an additional 36,551 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new stake in Wolverine World Wide in the second quarter valued at about $508,000. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on WWW. StockNews.com upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating in a report on Wednesday, December 18th. Telsey Advisory Group restated a “market perform” rating and set a $15.00 price target on shares of Wolverine World Wide in a research note on Thursday, November 7th. Stifel Nicolaus upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $21.00 to $29.00 in a research note on Wednesday, December 11th. Finally, BNP Paribas raised Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 target price on the stock in a research report on Thursday, October 3rd. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $19.38.

Wolverine World Wide Trading Up 0.7 %

Shares of Wolverine World Wide stock opened at $22.20 on Thursday. Wolverine World Wide, Inc. has a 1 year low of $7.58 and a 1 year high of $24.64. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.23 and a quick ratio of 0.77. The stock has a market cap of $1.78 billion, a PE ratio of -24.94 and a beta of 1.89. The firm has a fifty day moving average price of $21.36 and a 200 day moving average price of $16.79.

Wolverine World Wide Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 2nd will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.80%. The ex-dividend date is Thursday, January 2nd. Wolverine World Wide’s dividend payout ratio (DPR) is -44.94%.

Insider Activity at Wolverine World Wide

In other Wolverine World Wide news, insider Amy M. Klimek sold 10,214 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $20.11, for a total value of $205,403.54. Following the transaction, the insider now owns 19,093 shares in the company, valued at approximately $383,960.23. This trade represents a 34.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.28% of the stock is owned by company insiders.

About Wolverine World Wide

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.