Driehaus Capital Management LLC boosted its stake in shares of Wolverine World Wide, Inc. (NYSE:WWW - Free Report) by 135.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 593,693 shares of the textile maker's stock after acquiring an additional 341,601 shares during the period. Driehaus Capital Management LLC owned 0.74% of Wolverine World Wide worth $13,180,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the stock. SBI Securities Co. Ltd. bought a new stake in shares of Wolverine World Wide in the 4th quarter valued at about $25,000. Signaturefd LLC raised its holdings in shares of Wolverine World Wide by 88.8% in the 4th quarter. Signaturefd LLC now owns 1,450 shares of the textile maker's stock valued at $32,000 after purchasing an additional 682 shares in the last quarter. Natixis bought a new stake in shares of Wolverine World Wide in the 4th quarter valued at about $41,000. KBC Group NV raised its holdings in shares of Wolverine World Wide by 43.8% in the 4th 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 in the last quarter. Finally, GAMMA Investing LLC raised its holdings 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 in the last quarter. 90.25% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research firms have recently commented on WWW. Baird R W upgraded shares of Wolverine World Wide from a "hold" rating to a "strong-buy" rating in a report on Monday, April 21st. Stifel Nicolaus reduced 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. StockNews.com lowered shares of Wolverine World Wide from a "buy" rating to a "hold" rating in a research note on Tuesday, February 11th. Piper Sandler reduced 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. Finally, Telsey Advisory Group reiterated a "market perform" rating and set a $17.00 price objective on shares of Wolverine World Wide in a research note on Friday, May 9th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $19.71.
Read Our Latest Analysis on Wolverine World Wide
Wolverine World Wide Stock Performance
NYSE:WWW traded down $0.16 during trading hours on Thursday, hitting $16.32. 441,038 shares of the company were exchanged, compared to its average volume of 1,338,196. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of 29.66 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 company has a debt-to-equity ratio of 1.79, a current ratio of 1.29 and a quick ratio of 0.77. The company's 50 day moving average price is $13.16 and its 200-day moving average price is $18.15.
Wolverine World Wide (NYSE:WWW - Get Free Report) last released its earnings results on Thursday, May 8th. The textile maker reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.07. The company 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%. Wolverine World Wide's revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.11 EPS. As a group, research analysts forecast that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current year.
Wolverine World Wide Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Tuesday, July 1st will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend is Tuesday, July 1st. Wolverine World Wide's dividend payout ratio (DPR) is currently 45.98%.
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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