82,468 Shares in Wolverine World Wide, Inc. (NYSE:WWW) Purchased by Zacks Investment Management

Zacks Investment Management bought a new stake in shares of Wolverine World Wide, Inc. (NYSE:WWW) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 82,468 shares of the textile maker’s stock, valued at approximately $1,831,000. Zacks Investment Management owned about 0.10% of Wolverine World Wide at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. HighTower Advisors LLC purchased a new stake in Wolverine World Wide during the 3rd quarter valued at about $192,000. Barclays PLC lifted its position in Wolverine World Wide by 767.1% during the third quarter. Barclays PLC now owns 250,830 shares of the textile maker’s stock worth $4,368,000 after buying an additional 221,904 shares in the last quarter. Geode Capital Management LLC boosted its stake in Wolverine World Wide by 1.0% during the third quarter. Geode Capital Management LLC now owns 1,791,789 shares of the textile maker’s stock worth $31,219,000 after buying an additional 17,400 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Wolverine World Wide in the 3rd quarter valued at $113,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Wolverine World Wide by 1,263.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,426,942 shares of the textile maker’s stock worth $24,857,000 after acquiring an additional 1,322,254 shares during the last quarter. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Stifel Nicolaus cut their price objective on shares of Wolverine World Wide from $27.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Robert W. Baird decreased their price objective on Wolverine World Wide from $21.00 to $18.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Piper Sandler cut their target price on Wolverine World Wide from $27.00 to $18.00 and set an “overweight” rating for the company in a research note on Friday, April 11th. UBS Group decreased their price target on Wolverine World Wide from $29.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $23.00 price objective on shares of Wolverine World Wide in a report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.25.

Wolverine World Wide Stock Performance

Shares of WWW stock opened at $10.80 on Friday. The firm has a 50 day moving average of $13.80 and a two-hundred day moving average of $18.47. The stock has a market capitalization of $875.42 million, a PE ratio of 19.64 and a beta of 1.74. The company has a quick ratio of 0.77, a current ratio of 1.29 and a debt-to-equity ratio of 1.79. Wolverine World Wide, Inc. has a 52 week low of $9.53 and a 52 week high of $24.64.

Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings results on Wednesday, February 19th. The textile maker reported $0.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.42. Wolverine World Wide had a net margin of 2.73% and a return on equity of 26.81%. The company had revenue of $494.70 million during the quarter, compared to the consensus estimate of $485.74 million. During the same quarter in the previous year, the firm earned ($0.30) earnings per share. The firm’s quarterly revenue was down 6.1% on a year-over-year basis. On average, research analysts predict that Wolverine World Wide, Inc. will post 1.23 EPS for the current fiscal year.

Wolverine World Wide Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 1st will be issued a $0.10 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.70%. Wolverine World Wide’s payout ratio is currently 72.73%.

Wolverine World Wide 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.