GSA Capital Partners LLP Makes New Investment in Wolverine World Wide, Inc. (NYSE:WWW)

Key Points

• GSA Capital Partners LLP acquired a new stake in Wolverine World Wide, Inc., purchasing 121,433 shares valued approximately at $1.69 million, bringing its ownership to 0.15% of the company.
• Wolverine World Wide recently reported a quarterly earnings per share of $0.18, exceeding the consensus estimate by $0.07, with revenue of $412.30 million, a 4.4% increase year-over-year.
• Analysts have mixed views on Wolverine World Wide, with price targets varying from $17.00 to $20.75 and a consensus rating of "Moderate Buy".

GSA Capital Partners LLP bought a new stake in Wolverine World Wide, Inc. (NYSE:WWW - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 121,433 shares of the textile maker's stock, valued at approximately $1,689,000. GSA Capital Partners LLP owned about 0.15% of Wolverine World Wide as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WWW. Natixis purchased a new position in shares of Wolverine World Wide during the fourth quarter worth approximately $41,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Wolverine World Wide in the 4th quarter valued at about $64,000. Teacher Retirement System of Texas purchased a new position in Wolverine World Wide during the 1st quarter valued at about $163,000. Summit Investment Advisors Inc. raised its position in Wolverine World Wide by 7.5% during the fourth quarter. Summit Investment Advisors Inc. now owns 8,305 shares of the textile maker's stock worth $184,000 after acquiring an additional 581 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in shares of Wolverine World Wide during the 4th quarter worth approximately $204,000. Institutional investors and hedge funds own 90.25% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Robert W. Baird upped their price objective on Wolverine World Wide from $15.00 to $20.00 and gave the company an "outperform" rating in a research report on Tuesday, May 6th. Stifel Nicolaus reduced their target price 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. Baird R W raised shares of Wolverine World Wide from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 21st. Telsey Advisory Group restated a "market perform" rating and issued a $17.00 target price on shares of Wolverine World Wide in a research note on Wednesday. Finally, Argus raised shares of Wolverine World Wide from a "hold" rating to a "buy" rating and set a $20.00 price target for the company in a research report on Friday, May 16th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $20.75.

Wolverine World Wide Price Performance

NYSE:WWW traded down $0.45 during mid-day trading on Friday, reaching $22.13. 1,896,699 shares of the stock were exchanged, compared to its average volume of 1,457,718. Wolverine World Wide, Inc. has a 1-year low of $9.58 and a 1-year high of $24.64. The company has a current ratio of 1.26, a quick ratio of 0.77 and a debt-to-equity ratio of 1.76. The firm has a market capitalization of $1.79 billion, a PE ratio of 25.44 and a beta of 1.70. The business has a fifty day moving average price of $19.08 and a 200 day moving average price of $17.03.

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

Wolverine World Wide Announces Dividend

The business 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. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $0.40 dividend on an annualized basis and a yield of 1.8%. Wolverine World Wide's 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.