Cambridge Investment Research Advisors Inc. Invests $608,000 in Wolverine World Wide, Inc. (NYSE:WWW)

Cambridge Investment Research Advisors Inc. bought a new stake in shares of Wolverine World Wide, Inc. (NYSE:WWW - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 43,745 shares of the textile maker's stock, valued at approximately $608,000. Cambridge Investment Research Advisors Inc. owned approximately 0.05% of Wolverine World Wide at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. FMR LLC lifted its holdings in Wolverine World Wide by 2.2% in the fourth quarter. FMR LLC now owns 11,766,527 shares of the textile maker's stock valued at $261,217,000 after acquiring an additional 249,456 shares during the last quarter. Earnest Partners LLC lifted its stake in shares of Wolverine World Wide by 0.4% in the 4th quarter. Earnest Partners LLC now owns 5,228,918 shares of the textile maker's stock valued at $116,082,000 after purchasing an additional 19,295 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Wolverine World Wide by 70.0% during the 4th 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 period. Arrowstreet Capital Limited Partnership increased its position in shares of Wolverine World Wide by 5.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,670,760 shares of the textile maker's stock worth $37,091,000 after purchasing an additional 86,475 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of Wolverine World Wide by 11.4% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,107,721 shares of the textile maker's stock worth $24,591,000 after purchasing an additional 113,238 shares during the last quarter. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Wolverine World Wide Stock Down 2.5%

WWW stock traded down $0.49 during mid-day trading on Friday, reaching $19.42. The company had a trading volume of 660,070 shares, compared to its average volume of 1,341,532. The firm has a fifty day simple moving average of $17.42 and a 200 day simple moving average of $17.14. 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 $1.57 billion, a price-to-earnings ratio of 22.32 and a beta of 1.70. Wolverine World Wide, Inc. has a fifty-two week low of $9.58 and a fifty-two week high of $24.64.

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

Wolverine World Wide Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 1st will be issued a dividend of $0.10 per share. The ex-dividend date is Tuesday, July 1st. This represents a $0.40 dividend on an annualized basis and a yield of 2.06%. Wolverine World Wide's payout ratio is currently 45.98%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. UBS Group increased their target price on shares of Wolverine World Wide from $18.00 to $22.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Piper Sandler dropped their target price on shares of Wolverine World Wide from $27.00 to $18.00 and set an "overweight" rating for the company in a report on Friday, April 11th. Telsey Advisory Group restated a "market perform" rating and set a $17.00 price target on shares of Wolverine World Wide in a research note on Friday, May 9th. Baird R W upgraded Wolverine World Wide from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 21st. Finally, Robert W. Baird boosted their price objective on Wolverine World Wide from $15.00 to $20.00 and gave the company an "outperform" rating in a report on Tuesday, May 6th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.