Jennison Associates LLC Invests $10.97 Million in Wolverine World Wide, Inc. (NYSE:WWW)

Jennison Associates LLC purchased a new stake in shares of Wolverine World Wide, Inc. (NYSE:WWW) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 629,950 shares of the textile maker’s stock, valued at approximately $10,974,000.

Other large investors also recently bought and sold shares of the company. Future Financial Wealth Managment LLC purchased a new stake in Wolverine World Wide in the third quarter worth approximately $35,000. Cedar Mountain Advisors LLC purchased a new position in shares of Wolverine World Wide in the 3rd quarter worth $70,000. GAMMA Investing LLC boosted its stake in shares of Wolverine World Wide by 15.9% in the 3rd quarter. GAMMA Investing LLC now owns 4,494 shares of the textile maker’s stock worth $78,000 after buying an additional 616 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Wolverine World Wide in the second quarter worth $68,000. Finally, CWM LLC increased its position in Wolverine World Wide by 237.0% during the third quarter. CWM LLC now owns 8,843 shares of the textile maker’s stock valued at $154,000 after acquiring an additional 6,219 shares during the last quarter. 90.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on WWW. Piper Sandler reissued an “overweight” rating and issued a $18.00 target price on shares of Wolverine World Wide in a research report on Friday, August 23rd. BNP Paribas raised shares of Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 price objective on the stock in a report on Thursday, October 3rd. KeyCorp raised shares of Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 target price for the company in a report on Thursday, August 8th. Argus raised shares of Wolverine World Wide to a “hold” rating in a research report on Friday, August 16th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $15.00 target price on shares of Wolverine World Wide in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

Wolverine World Wide Trading Up 2.3 %

Shares of WWW stock opened at $23.40 on Friday. The company has a current ratio of 1.23, a quick ratio of 0.77 and a debt-to-equity ratio of 1.91. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of -25.79 and a beta of 1.78. Wolverine World Wide, Inc. has a 12-month low of $7.58 and a 12-month high of $23.73. The stock’s 50-day moving average price is $17.49 and its 200-day moving average price is $14.79.

Wolverine World Wide Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 2nd will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend is Thursday, January 2nd. Wolverine World Wide’s dividend payout ratio is presently -44.94%.

Insider Activity at Wolverine World Wide

In other Wolverine World Wide news, insider David A. Latchana sold 7,706 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $17.02, for a total transaction of $131,156.12. Following the sale, the insider now directly owns 13,889 shares in the company, valued at $236,390.78. This represents a 35.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Amy M. Klimek sold 24,000 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $22.07, for a total transaction of $529,680.00. Following the completion of the sale, the insider now directly owns 20,238 shares in the company, valued at $446,652.66. This trade represents a 54.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,920 shares of company stock valued at $866,240 over the last 90 days. 2.28% of the stock is owned by corporate 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.