Cetera Investment Advisers Buys New Shares in Wolverine World Wide, Inc. $WWW

Key Points

• Cetera Investment Advisers acquired 16,710 shares of Wolverine World Wide, Inc. for approximately $232,000 in the first quarter, indicating growing institutional interest in the company.
• Wolverine World Wide's recent earnings report showed a 12-month revenue increase of 11.5% and earnings per share of $0.35, exceeding analysts' expectations.
• The company announced a quarterly dividend of $0.10 per share, reflecting a 1.4% annual yield, with a payout ratio of 39.22%.

Cetera Investment Advisers purchased a new stake in shares of Wolverine World Wide, Inc. (NYSE:WWW - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund purchased 16,710 shares of the textile maker's stock, valued at approximately $232,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Readystate Asset Management LP boosted its stake in shares of Wolverine World Wide by 113.9% in the 1st quarter. Readystate Asset Management LP now owns 184,212 shares of the textile maker's stock worth $2,562,000 after buying an additional 98,074 shares during the last quarter. Hussman Strategic Advisors Inc. purchased a new stake in shares of Wolverine World Wide during the first quarter worth $1,753,000. Jennison Associates LLC lifted its position in shares of Wolverine World Wide by 24.9% during the first quarter. Jennison Associates LLC now owns 739,359 shares of the textile maker's stock worth $10,284,000 after acquiring an additional 147,215 shares in the last quarter. Cerity Partners LLC lifted its position in shares of Wolverine World Wide by 25.0% during the first quarter. Cerity Partners LLC now owns 16,728 shares of the textile maker's stock worth $233,000 after acquiring an additional 3,346 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Wolverine World Wide by 60.2% in the first quarter. Nisa Investment Advisors LLC now owns 57,987 shares of the textile maker's stock worth $807,000 after purchasing an additional 21,795 shares during the period. Hedge funds and other institutional investors own 90.25% of the company's stock.

Wolverine World Wide Stock Performance

NYSE:WWW traded up $0.30 during trading hours on Wednesday, reaching $31.80. The company had a trading volume of 1,794,218 shares, compared to its average volume of 2,142,788. The firm's 50 day moving average price is $23.03 and its 200-day moving average price is $17.72. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of 31.17 and a beta of 1.74. Wolverine World Wide, Inc. has a 52 week low of $9.58 and a 52 week high of $32.59. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 1.58.

Wolverine World Wide (NYSE:WWW - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The textile maker reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.12. The business had revenue of $474.20 million for the quarter, compared to analysts' expectations of $447.82 million. Wolverine World Wide had a net margin of 4.73% and a return on equity of 31.99%. The company's revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.15 EPS. On average, analysts forecast that Wolverine World Wide, Inc. will post 1.23 EPS for the current year.

Wolverine World Wide Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Wednesday, October 1st will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Wednesday, October 1st. Wolverine World Wide's dividend payout ratio (DPR) is currently 39.22%.

Analysts Set New Price Targets

Several research firms have recently weighed in on WWW. UBS Group upped their price target on shares of Wolverine World Wide from $30.00 to $36.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Stifel Nicolaus raised their price objective on Wolverine World Wide from $30.00 to $36.00 and gave the company a "buy" rating in a research note on Wednesday. Piper Sandler reaffirmed an "overweight" rating and set a $25.00 price objective (up from $20.00) on shares of Wolverine World Wide in a research note on Tuesday, August 5th. Argus upgraded shares of Wolverine World Wide from a "hold" rating to a "buy" rating and set a $20.00 target price for the company in a report on Friday, May 16th. Finally, KeyCorp reiterated an "overweight" rating and set a $32.00 target price (up from $25.00) on shares of Wolverine World Wide in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $27.50.

Wolverine World Wide 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.