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

Zacks Investment Management purchased a new position in Wolverine World Wide, Inc. (NYSE:WWW - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 82,468 shares of the textile maker's stock, valued at approximately $1,831,000. Zacks Investment Management owned approximately 0.10% of Wolverine World Wide as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. SBI Securities Co. Ltd. bought a new stake in shares of Wolverine World Wide in the 4th quarter worth about $25,000. Signaturefd LLC increased its stake in Wolverine World Wide by 88.8% during the fourth quarter. Signaturefd LLC now owns 1,450 shares of the textile maker's stock worth $32,000 after acquiring an additional 682 shares during the last quarter. KBC Group NV raised its position in Wolverine World Wide by 43.8% during the fourth quarter. KBC Group NV now owns 4,303 shares of the textile maker's stock valued at $96,000 after purchasing an additional 1,311 shares during the period. GAMMA Investing LLC lifted its stake in shares of Wolverine World Wide by 12.5% in the 4th quarter. GAMMA Investing LLC now owns 5,057 shares of the textile maker's stock valued at $112,000 after purchasing an additional 563 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Wolverine World Wide in the 3rd quarter worth approximately $113,000. Institutional investors own 90.25% of the company's stock.

Wolverine World Wide Stock Up 2.9 %

WWW stock traded up $0.36 during trading on Thursday, hitting $12.72. 296,496 shares of the company's stock traded hands, compared to its average volume of 1,446,007. The firm has a market capitalization of $1.03 billion, a P/E ratio of 23.13 and a beta of 1.74. Wolverine World Wide, Inc. has a 1 year low of $9.58 and a 1 year high of $24.64. The company has a quick ratio of 0.77, a current ratio of 1.29 and a debt-to-equity ratio of 1.79. The business has a fifty day simple moving average of $13.41 and a two-hundred day simple moving average of $18.36.

Wolverine World Wide (NYSE:WWW - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The textile maker reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. Wolverine World Wide had a return on equity of 26.81% and a net margin of 2.73%. The firm had revenue of $494.70 million during the quarter, compared to analyst estimates of $485.74 million. During the same period in the previous year, the company posted ($0.30) EPS. The business's revenue for the quarter was down 6.1% compared to the same quarter last year. Sell-side analysts anticipate that Wolverine World Wide, Inc. will post 1.23 EPS for the current year.

Wolverine World Wide Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 1st will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, April 1st. This represents a $0.40 annualized dividend and a dividend yield of 3.14%. Wolverine World Wide's dividend payout ratio (DPR) is presently 72.73%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Baird R W upgraded Wolverine World Wide from a "hold" rating to a "strong-buy" rating in a research report on Monday. Robert W. Baird raised shares of Wolverine World Wide from a "neutral" rating to an "outperform" rating and set a $15.00 price objective for the company in a research note on Monday. UBS Group lifted their price objective on shares of Wolverine World Wide from $17.00 to $18.00 and gave the stock a "buy" rating in a research note on Tuesday. Stifel Nicolaus dropped 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 note on Thursday, April 10th. Finally, Piper Sandler dropped their price objective on shares of 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. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Wolverine World Wide has an average rating of "Moderate Buy" and a consensus price target of $18.88.

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.