Bryce Point Capital LLC Purchases New Position in Wolverine World Wide, Inc. (NYSE:WWW)

Key Points

• Bryce Point Capital LLC has acquired a new stake in Wolverine World Wide, purchasing 68,582 shares valued at approximately $983,000, making it the 13th largest holding in their portfolio.
• Wolverine World Wide reported earnings of $0.18 per share for the recent quarter, exceeding the analysts' consensus estimate of $0.11, with a revenue increase of 4.4% year-over-year.
• The company has announced a quarterly dividend of $0.10 per share, which is set to be paid on August 1st, reflecting a yield of 1.72% and a payout ratio of 45.98%.

Bryce Point Capital LLC bought a new stake in Wolverine World Wide, Inc. (NYSE:WWW - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 68,582 shares of the textile maker's stock, valued at approximately $983,000. Wolverine World Wide makes up about 0.8% of Bryce Point Capital LLC's holdings, making the stock its 13th biggest holding. Bryce Point Capital LLC owned about 0.08% of Wolverine World Wide as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Integrated Investment Consultants LLC grew its stake in shares of Wolverine World Wide by 31.9% in the first quarter. Integrated Investment Consultants LLC now owns 15,137 shares of the textile maker's stock valued at $211,000 after buying an additional 3,665 shares in the last quarter. Cetera Investment Advisers acquired a new stake in Wolverine World Wide during the 1st quarter valued at approximately $232,000. Readystate Asset Management LP grew its stake in Wolverine World Wide by 113.9% during the 1st quarter. Readystate Asset Management LP now owns 184,212 shares of the textile maker's stock valued at $2,562,000 after purchasing an additional 98,074 shares in the last quarter. Hussman Strategic Advisors Inc. acquired a new stake in Wolverine World Wide during the 1st quarter valued at approximately $1,753,000. Finally, Jennison Associates LLC grew its stake in Wolverine World Wide by 24.9% during the 1st quarter. Jennison Associates LLC now owns 739,359 shares of the textile maker's stock valued at $10,284,000 after purchasing an additional 147,215 shares in the last quarter. Institutional investors and hedge funds own 90.25% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on WWW shares. Telsey Advisory Group restated a "market perform" rating and set a $17.00 price objective on shares of Wolverine World Wide in a research note on Wednesday. Robert W. Baird lifted their target price on Wolverine World Wide from $15.00 to $20.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. UBS Group set a $30.00 price target on Wolverine World Wide and gave the stock a "buy" rating in a report on Monday. Baird R W raised Wolverine World Wide from a "hold" rating to a "strong-buy" rating in a report on Monday, April 21st. Finally, Stifel Nicolaus cut their price target on Wolverine World Wide from $27.00 to $19.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Wolverine World Wide has an average rating of "Moderate Buy" and an average target price of $20.75.

Wolverine World Wide Stock Down 1.3%

Shares of WWW stock traded down $0.29 on Thursday, reaching $22.65. 730,875 shares of the company's stock traded hands, compared to its average volume of 1,449,612. Wolverine World Wide, Inc. has a 12-month low of $9.58 and a 12-month high of $24.64. 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 company has a market capitalization of $1.84 billion, a P/E ratio of 26.07 and a beta of 1.70. The business's 50 day moving average price is $18.96 and its two-hundred day moving average price is $17.03.

Wolverine World Wide (NYSE:WWW - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The textile maker reported $0.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.11 by $0.07. The firm had revenue of $412.30 million during 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 revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the firm earned $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 year.

Wolverine World Wide Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Wednesday, October 1st will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.77%. Wolverine World Wide's dividend payout ratio is presently 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.