Ameriprise Financial Inc. Buys 58,664 Shares of Wolverine World Wide, Inc. (NYSE:WWW)

Ameriprise Financial Inc. increased its position in shares of Wolverine World Wide, Inc. (NYSE:WWW - Free Report) by 19.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 356,685 shares of the textile maker's stock after purchasing an additional 58,664 shares during the quarter. Ameriprise Financial Inc. owned 0.45% of Wolverine World Wide worth $7,918,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in WWW. Pacer Advisors Inc. bought a new position in Wolverine World Wide during the fourth quarter worth $64,943,000. JPMorgan Chase & Co. lifted its stake in Wolverine World Wide by 70.0% during the fourth quarter. JPMorgan Chase & Co. now owns 2,425,858 shares of the textile maker's stock worth $53,854,000 after purchasing an additional 998,916 shares during the last quarter. Capital Research Global Investors bought a new position in Wolverine World Wide during the fourth quarter worth $13,943,000. First Trust Advisors LP bought a new position in Wolverine World Wide during the fourth quarter worth $7,862,000. Finally, FMR LLC lifted its stake in Wolverine World Wide by 2.2% during the fourth quarter. FMR LLC now owns 11,766,527 shares of the textile maker's stock worth $261,217,000 after purchasing an additional 249,456 shares during the last quarter. 90.25% of the stock is currently owned by institutional investors.

Wolverine World Wide Price Performance

NYSE:WWW traded up $1.03 during mid-day trading on Tuesday, reaching $17.39. 1,522,367 shares of the stock were exchanged, compared to its average volume of 1,350,604. The business has a fifty day moving average price of $13.74 and a 200 day moving average price of $18.15. The firm has a market capitalization of $1.41 billion, a PE ratio of 31.61 and a beta of 1.62. Wolverine World Wide, Inc. has a 1-year low of $9.58 and a 1-year high of $24.64. The company has a current ratio of 1.29, a quick ratio of 0.77 and a debt-to-equity ratio of 1.79.

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, beating analysts' consensus estimates of $0.11 by $0.07. Wolverine World Wide had a return on equity of 26.81% and a net margin of 2.73%. The business had revenue of $412.30 million during the quarter, compared to analyst estimates of $395.94 million. During the same quarter last year, the company posted $0.11 EPS. Wolverine World Wide's revenue for the quarter was up 4.4% on a year-over-year basis. Research analysts expect that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current fiscal 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 paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend is Tuesday, July 1st. Wolverine World Wide's dividend payout ratio (DPR) is presently 45.98%.

Analyst Ratings Changes

WWW has been the topic of several research analyst reports. UBS Group raised their price objective on Wolverine World Wide from $18.00 to $22.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $17.00 target price on shares of Wolverine World Wide in a research report on Friday, May 9th. Piper Sandler dropped their target price on Wolverine World Wide from $27.00 to $18.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th. Baird R W raised Wolverine World Wide from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 21st. Finally, Wall Street Zen lowered Wolverine World Wide from a "buy" rating to a "hold" rating in a research report on Tuesday, February 11th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $19.75.

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.