Dimensional Fund Advisors LP lessened its holdings in Wolverine World Wide, Inc. (NYSE:WWW - Free Report) by 18.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 693,421 shares of the textile maker's stock after selling 161,975 shares during the period. Dimensional Fund Advisors LP owned about 0.87% of Wolverine World Wide worth $15,394,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. First Trust Advisors LP purchased a new stake in Wolverine World Wide during the fourth quarter valued at approximately $7,862,000. Zacks Investment Management acquired a new position in Wolverine World Wide during the 4th quarter valued at approximately $1,831,000. Walleye Capital LLC increased its stake in shares of Wolverine World Wide by 4,043.8% in the fourth quarter. Walleye Capital LLC now owns 12,017 shares of the textile maker's stock worth $267,000 after acquiring an additional 11,727 shares during the period. Summit Investment Advisors Inc. increased its stake in shares of Wolverine World Wide by 7.5% in the fourth quarter. Summit Investment Advisors Inc. now owns 8,305 shares of the textile maker's stock worth $184,000 after acquiring an additional 581 shares during the period. Finally, Optimize Financial Inc acquired a new stake in shares of Wolverine World Wide in the fourth quarter worth $802,000. Hedge funds and other institutional investors own 90.25% of the company's stock.
Wolverine World Wide Price Performance
WWW traded up $1.41 during midday trading on Monday, hitting $16.70. 2,516,715 shares of the company traded hands, compared to its average volume of 1,339,411. The company has a current ratio of 1.29, a quick ratio of 0.77 and a debt-to-equity ratio of 1.79. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of 30.36 and a beta of 1.62. Wolverine World Wide, Inc. has a 52-week low of $9.58 and a 52-week high of $24.64. The business has a 50 day simple moving average of $13.01 and a two-hundred day simple moving average of $18.17.
Wolverine World Wide (NYSE:WWW - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The textile maker reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.07. The business had revenue of $412.30 million for the quarter, compared to the consensus estimate of $395.94 million. Wolverine World Wide had a net margin of 2.73% and a return on equity of 26.81%. The company's revenue was up 4.4% compared to the same quarter last year. During the same period last year, the firm posted $0.11 earnings per share. On average, equities analysts forecast that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current fiscal year.
Wolverine World Wide Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Tuesday, July 1st will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend is Tuesday, July 1st. Wolverine World Wide's dividend payout ratio is currently 45.98%.
Analysts Set New Price Targets
A number of analysts have recently weighed in on the stock. 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 research note on Friday, April 11th. UBS Group increased their price objective on shares of Wolverine World Wide from $18.00 to $22.00 and gave the stock a "buy" rating in a research note on Friday. Robert W. Baird increased their price objective on shares of Wolverine World Wide from $15.00 to $20.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. StockNews.com lowered shares of Wolverine World Wide from a "buy" rating to a "hold" rating in a research note on Tuesday, February 11th. Finally, Stifel Nicolaus cut their price objective on shares of Wolverine World Wide from $27.00 to $19.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $19.71.
Check Out Our Latest Research Report on Wolverine World Wide
Wolverine World Wide Profile
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Free Report)
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.
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