WCM Investment Management LLC Invests $7.16 Million in Wolverine World Wide, Inc. (NYSE:WWW)

WCM Investment Management LLC purchased a new stake in Wolverine World Wide, Inc. (NYSE:WWW - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 521,026 shares of the textile maker's stock, valued at approximately $7,164,000. WCM Investment Management LLC owned approximately 0.64% of Wolverine World Wide as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in Wolverine World Wide by 70.0% in the fourth quarter. JPMorgan Chase & Co. now owns 2,425,858 shares of the textile maker's stock valued at $53,854,000 after purchasing an additional 998,916 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Wolverine World Wide by 5.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,670,760 shares of the textile maker's stock valued at $37,091,000 after purchasing an additional 86,475 shares in the last quarter. Illinois Municipal Retirement Fund raised its stake in Wolverine World Wide by 8.4% in the first quarter. Illinois Municipal Retirement Fund now owns 44,317 shares of the textile maker's stock valued at $616,000 after purchasing an additional 3,441 shares in the last quarter. Nuveen Asset Management LLC raised its stake in Wolverine World Wide by 179.1% in the fourth quarter. Nuveen Asset Management LLC now owns 628,338 shares of the textile maker's stock valued at $13,949,000 after purchasing an additional 403,176 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in Wolverine World Wide in the fourth quarter valued at about $204,000. Institutional investors and hedge funds own 90.25% of the company's stock.

Analyst Ratings Changes

WWW has been the subject of a number of analyst reports. Argus raised Wolverine World Wide from a "hold" rating to a "buy" rating and set a $20.00 price target for the company in a research note on Friday, May 16th. Baird R W raised Wolverine World Wide from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 21st. Stifel Nicolaus lowered their target price on 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. Piper Sandler lowered 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. Finally, Robert W. Baird boosted their target price on Wolverine World Wide from $15.00 to $20.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Wolverine World Wide currently has an average rating of "Moderate Buy" and an average target price of $19.75.

Wolverine World Wide Trading Up 0.5%

Shares of NYSE:WWW traded up $0.10 during midday trading on Friday, hitting $19.94. 874,469 shares of the stock were exchanged, compared to its average volume of 1,343,900. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of 22.92 and a beta of 1.70. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.77 and a current ratio of 1.26. The business's 50-day moving average price is $16.90 and its 200 day moving average price is $17.15. Wolverine World Wide, Inc. has a 12 month low of $9.58 and a 12 month high of $24.64.

Wolverine World Wide (NYSE:WWW - Get Free Report) last released its quarterly 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 analysts' expectations of $395.94 million. Wolverine World Wide had a return on equity of 28.74% and a net margin of 4.15%. The business's quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.11 earnings per share. Analysts predict that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current year.

Wolverine World Wide Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Tuesday, July 1st will be given a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.01%. Wolverine World Wide's dividend payout ratio (DPR) is currently 45.98%.

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.