Algert Global LLC Invests $2.28 Million in Wolverine World Wide, Inc. (NYSE:WWW)

Algert Global LLC acquired a new stake in shares of Wolverine World Wide, Inc. (NYSE:WWW - Free Report) 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 acquired 102,610 shares of the textile maker's stock, valued at approximately $2,278,000. Algert Global LLC owned 0.13% of Wolverine World Wide as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Barclays PLC raised its holdings in shares of Wolverine World Wide by 767.1% during the third quarter. Barclays PLC now owns 250,830 shares of the textile maker's stock valued at $4,368,000 after acquiring an additional 221,904 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in Wolverine World Wide in the 3rd quarter worth $113,000. GAMMA Investing LLC lifted its position 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 worth $112,000 after purchasing an additional 563 shares during the period. Sheets Smith Wealth Management purchased a new position in shares of Wolverine World Wide during the fourth quarter valued at about $273,000. Finally, KBC Group NV raised its stake in Wolverine World Wide by 43.8% in the fourth quarter. KBC Group NV now owns 4,303 shares of the textile maker's stock worth $96,000 after buying an additional 1,311 shares in the last quarter. 90.25% of the stock is owned by hedge funds and other institutional investors.

Wolverine World Wide Stock Performance

Shares of NYSE:WWW traded down $1.03 during mid-day trading on Friday, reaching $15.29. 2,409,373 shares of the company traded hands, compared to its average volume of 1,334,682. Wolverine World Wide, Inc. has a 52 week low of $9.58 and a 52 week high of $24.64. The firm has a market cap of $1.24 billion, a PE ratio of 27.80 and a beta of 1.62. The company's 50 day moving average price is $13.01 and its 200-day moving average price is $18.15. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.29 and a quick ratio of 0.77.

Wolverine World Wide (NYSE:WWW - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The textile maker reported $0.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.07. Wolverine World Wide had a net margin of 2.73% and a return on equity of 26.81%. The firm had revenue of $412.30 million during the quarter, compared to analysts' expectations of $395.94 million. During the same period in the prior year, the company posted $0.11 earnings per share. The company's revenue for the quarter was up 4.4% compared to the same quarter last year. On average, equities analysts expect that Wolverine World Wide, Inc. will post 1.23 EPS for the current fiscal year.

Wolverine World Wide Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Tuesday, July 1st will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend is Tuesday, July 1st. Wolverine World Wide's dividend payout ratio (DPR) is presently 72.73%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on WWW. Robert W. Baird increased their target price on Wolverine World Wide from $15.00 to $20.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. Stifel Nicolaus decreased their price objective on Wolverine World Wide from $27.00 to $19.00 and set a "buy" rating for the company in a report on Thursday, April 10th. StockNews.com downgraded shares of Wolverine World Wide from a "buy" rating to a "hold" rating in a research report on Tuesday, February 11th. Baird R W raised shares of Wolverine World Wide from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 21st. Finally, Piper Sandler cut their price objective on shares of Wolverine World Wide from $27.00 to $18.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $19.71.

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.