Blueshift Asset Management LLC Purchases New Stake in Wolverine World Wide, Inc. (NYSE:WWW)

Blueshift Asset Management LLC acquired a new position in shares of Wolverine World Wide, Inc. (NYSE:WWW - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 30,142 shares of the textile maker's stock, valued at approximately $419,000.

A number of other large investors have also recently bought and sold shares of the company. Bayforest Capital Ltd acquired a new stake in shares of Wolverine World Wide in the 1st quarter valued at $290,000. GSA Capital Partners LLP bought a new stake in shares of Wolverine World Wide during the 1st quarter worth $1,689,000. Federated Hermes Inc. boosted its stake in Wolverine World Wide by 6.1% in the first quarter. Federated Hermes Inc. now owns 762,458 shares of the textile maker's stock valued at $10,606,000 after buying an additional 43,891 shares in the last quarter. Mackenzie Financial Corp boosted its stake in Wolverine World Wide by 28.4% in the first quarter. Mackenzie Financial Corp now owns 52,140 shares of the textile maker's stock valued at $725,000 after buying an additional 11,524 shares in the last quarter. Finally, Bryce Point Capital LLC bought a new position in Wolverine World Wide in the first quarter valued at about $983,000. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. UBS Group set a $30.00 target price on shares of Wolverine World Wide and gave the stock a "buy" rating in a report on Monday. Piper Sandler dropped 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. Stifel Nicolaus decreased their target price 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. 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. Finally, Telsey Advisory Group reissued a "market perform" rating and set a $17.00 price objective on shares of Wolverine World Wide in a report on Wednesday. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Wolverine World Wide currently has a consensus rating of "Moderate Buy" and an average price target of $20.75.

Wolverine World Wide Price Performance

Shares of NYSE:WWW opened at $22.13 on Friday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.77 and a current ratio of 1.26. 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 $1.79 billion, a PE ratio of 25.44 and a beta of 1.74. The firm's fifty day moving average is $19.19 and its 200-day moving average is $17.03.

Wolverine World Wide (NYSE:WWW - Get Free Report) last announced its earnings results on Thursday, May 8th. The textile maker reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.07. Wolverine World Wide had a return on equity of 28.74% and a net margin of 4.15%. The business had revenue of $412.30 million during the quarter, compared to analyst estimates of $395.94 million. During the same period last year, the company earned $0.11 EPS. Wolverine World Wide's revenue for the quarter was up 4.4% compared to the same quarter last year. Sell-side analysts predict that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current year.

Wolverine World Wide Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Wednesday, October 1st will be issued a $0.10 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $0.40 annualized dividend and a yield of 1.8%. Wolverine World Wide's dividend payout ratio is presently 45.98%.

About Wolverine World Wide

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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