Edgestream Partners L.P. Sells 26,510 Shares of Wolverine World Wide, Inc. (NYSE:WWW)

Edgestream Partners L.P. lessened its stake in shares of Wolverine World Wide, Inc. (NYSE:WWW - Free Report) by 59.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,415 shares of the textile maker's stock after selling 26,510 shares during the period. Edgestream Partners L.P.'s holdings in Wolverine World Wide were worth $256,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in shares of Wolverine World Wide by 70.0% in the 4th quarter. JPMorgan Chase & Co. now owns 2,425,858 shares of the textile maker's stock valued at $53,854,000 after purchasing an additional 998,916 shares during the last quarter. Capital Research Global Investors acquired a new stake in shares of Wolverine World Wide during the 4th quarter valued at $13,943,000. WCM Investment Management LLC acquired a new stake in shares of Wolverine World Wide during the 1st quarter valued at $7,164,000. Nuveen Asset Management LLC boosted its holdings in shares of Wolverine World Wide by 179.1% during the 4th quarter. Nuveen Asset Management LLC now owns 628,338 shares of the textile maker's stock valued at $13,949,000 after acquiring an additional 403,176 shares in the last quarter. Finally, First Trust Advisors LP acquired a new stake in shares of Wolverine World Wide during the 4th quarter valued at $7,862,000. Institutional investors and hedge funds own 90.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on WWW shares. Argus raised Wolverine World Wide from a "hold" rating to a "buy" rating and set a $20.00 price objective on the stock in a report on Friday, May 16th. Stifel Nicolaus cut their price objective 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. 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 Friday, May 9th. Robert W. Baird raised 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. Finally, Piper Sandler cut their price objective on Wolverine World Wide from $27.00 to $18.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. Two equities research 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 company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $19.75.

Wolverine World Wide Stock Down 0.5%

WWW traded down $0.11 during midday trading on Thursday, reaching $23.25. 1,221,880 shares of the company were exchanged, compared to its average volume of 1,395,489. 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's fifty day moving average price is $18.46 and its 200 day moving average price is $17.02. The company has a market cap of $1.88 billion, a price-to-earnings ratio of 26.72 and a beta of 1.70. Wolverine World Wide, Inc. has a one year low of $9.58 and a one year high of $24.64.

Wolverine World Wide (NYSE:WWW - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The textile maker reported $0.18 EPS for the quarter, topping analysts' consensus estimates of $0.11 by $0.07. The firm had revenue of $412.30 million during the quarter, compared to analyst estimates of $395.94 million. Wolverine World Wide had a return on equity of 28.74% and a net margin of 4.15%. The company's revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.11 EPS. As a group, analysts expect that Wolverine World Wide, Inc. will post 1.23 EPS for the current year.

Wolverine World Wide Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Tuesday, July 1st will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.72%. The ex-dividend date is Tuesday, July 1st. 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.