XTX Topco Ltd Increases Position in Wolverine World Wide, Inc. (NYSE:WWW)

XTX Topco Ltd increased its stake in Wolverine World Wide, Inc. (NYSE:WWW) by 338.6% in the 3rd quarter, Holdings Channel reports. The fund owned 47,346 shares of the textile maker’s stock after buying an additional 36,551 shares during the quarter. XTX Topco Ltd’s holdings in Wolverine World Wide were worth $825,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WWW. Pacer Advisors Inc. purchased a new position in Wolverine World Wide in the second quarter worth $64,295,000. Jennison Associates LLC purchased a new position in Wolverine World Wide in the third quarter worth $10,974,000. Federated Hermes Inc. grew its position in Wolverine World Wide by 10,607.4% in the second quarter. Federated Hermes Inc. now owns 540,402 shares of the textile maker’s stock worth $7,306,000 after acquiring an additional 535,355 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in Wolverine World Wide by 51.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 994,483 shares of the textile maker’s stock worth $17,324,000 after acquiring an additional 335,669 shares in the last quarter. Finally, Panagora Asset Management Inc. purchased a new stake in Wolverine World Wide during the second quarter valued at about $3,979,000. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Telsey Advisory Group restated a “market perform” rating and set a $15.00 price target on shares of Wolverine World Wide in a research report on Thursday, November 7th. BNP Paribas upgraded 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 research report on Thursday, October 3rd. Argus upgraded shares of Wolverine World Wide to a “hold” rating in a research report on Friday, August 16th. Finally, Piper Sandler restated an “overweight” rating and set a $18.00 price target on shares of Wolverine World Wide in a research report on Friday, August 23rd. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Wolverine World Wide currently has a consensus rating of “Moderate Buy” and an average target price of $18.00.

Wolverine World Wide Stock Performance

Shares of NYSE:WWW opened at $22.71 on Wednesday. The company has a market cap of $1.82 billion, a price-to-earnings ratio of -25.52 and a beta of 1.89. The company has a 50-day moving average price of $19.40 and a 200-day moving average price of $15.73. The company has a current ratio of 1.23, a quick ratio of 0.77 and a debt-to-equity ratio of 1.91. Wolverine World Wide, Inc. has a 12 month low of $7.58 and a 12 month high of $24.16.

Wolverine World Wide Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 2nd will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Thursday, January 2nd. Wolverine World Wide’s dividend payout ratio (DPR) is -44.94%.

Insider Activity

In related news, insider Amy M. Klimek sold 10,214 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $20.11, for a total value of $205,403.54. Following the completion of the transaction, the insider now directly owns 19,093 shares of the company’s stock, valued at $383,960.23. This represents a 34.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider David A. Latchana sold 7,706 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $17.02, for a total transaction of $131,156.12. Following the completion of the transaction, the insider now directly owns 13,889 shares of the company’s stock, valued at approximately $236,390.78. The trade was a 35.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,920 shares of company stock valued at $866,240. 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.