EARNEST Partners Discloses 3.73M Shares in Wolverine World Wide
Ticker: WWW · Form: SC 13G/A · Filed: Feb 12, 2024 · CIK: 110471
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investing
TL;DR
**EARNEST Partners still holds over 3.7 million shares of Wolverine World Wide.**
AI Summary
EARNEST Partners, LLC, an investment advisor based in Atlanta, GA, filed an amended Schedule 13G/A on February 12, 2024, disclosing its ownership of 3,731,937 shares of Wolverine World Wide, Inc. common stock as of December 31, 2023. This filing indicates that EARNEST Partners holds sole voting power over these shares, representing a significant institutional stake in the footwear company. This matters to investors because it shows a major institutional investor's continued, albeit potentially adjusted, confidence in Wolverine World Wide, Inc., which could influence market perception and stock stability.
Why It Matters
This filing reveals a major institutional investor's current stake in Wolverine World Wide, Inc., providing transparency into significant ownership and potential long-term confidence in the company.
Risk Assessment
Risk Level: low — This is an amendment to a passive ownership filing, indicating no immediate change in control or hostile intent, thus posing low risk.
Analyst Insight
Investors should note this continued institutional ownership as a baseline for stability, but also research Wolverine World Wide's recent financial performance and strategic initiatives to understand the broader investment thesis.
Key Numbers
- 3,731,937 — Shares Beneficially Owned (Represents the total number of Wolverine World Wide, Inc. common stock shares EARNEST Partners, LLC has sole voting power over as of December 31, 2023.)
- 12/31/2023 — Date of Event (The specific date as of which the ownership stake was calculated for this filing.)
- 0 — Shared Voting Power (Indicates that EARNEST Partners, LLC has no shared voting power over the reported shares.)
Key Players & Entities
- EARNEST Partners, LLC (company) — the reporting person and institutional investor
- WOLVERINE WORLD WIDE INC /DE/ (company) — the subject company whose shares are being reported
- Delaware (place) — place of organization for EARNEST Partners, LLC
- Atlanta, GA (place) — business address for EARNEST Partners, LLC
- Rockford, MI (place) — business address for Wolverine World Wide, Inc.
Forward-Looking Statements
- EARNEST Partners, LLC will maintain a significant, passive stake in Wolverine World Wide, Inc. for the foreseeable future. (EARNEST Partners, LLC) — high confidence, target: 12/31/2024
- The market will view this continued institutional ownership as a sign of stability for Wolverine World Wide, Inc. (WOLVERINE WORLD WIDE INC /DE/) — medium confidence, target: 03/31/2024
FAQ
What is the purpose of this SC 13G/A filing?
This SC 13G/A filing is an amendment (Amendment No. 3) to a Schedule 13G, indicating that EARNEST Partners, LLC is updating its previously reported beneficial ownership of Wolverine World Wide, Inc. common stock as of December 31, 2023, under Rule 13d-1(b).
Who is the reporting person in this filing?
The reporting person is EARNEST Partners, LLC, an entity organized in Delaware with a business address in Atlanta, GA.
How many shares of Wolverine World Wide, Inc. does EARNEST Partners, LLC beneficially own with sole voting power?
As of December 31, 2023, EARNEST Partners, LLC beneficially owns 3,731,937 shares of Wolverine World Wide, Inc. common stock with sole voting power.
What is the CUSIP number for Wolverine World Wide, Inc. common stock mentioned in the filing?
The CUSIP number for Wolverine World Wide, Inc. common stock is 978097103.
When was the 'Date of Event Which Requires Filing of this Statement'?
The 'Date of Event Which Requires Filing of this Statement' was December 31, 2023.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on February 12, 2024 regarding WOLVERINE WORLD WIDE INC /DE/ (WWW).