Jennison Associates LLC Buys 147,215 Shares of Wolverine World Wide, Inc. (NYSE:WWW)

Jennison Associates LLC boosted its holdings in Wolverine World Wide, Inc. (NYSE:WWW - Free Report) by 24.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 739,359 shares of the textile maker's stock after buying an additional 147,215 shares during the period. Jennison Associates LLC owned approximately 0.91% of Wolverine World Wide worth $10,284,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of WWW. Signaturefd LLC raised its position in shares of Wolverine World Wide by 88.8% during the fourth quarter. Signaturefd LLC now owns 1,450 shares of the textile maker's stock valued at $32,000 after buying an additional 682 shares during the last quarter. Natixis bought a new position in Wolverine World Wide during the fourth quarter valued at about $41,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Wolverine World Wide in the 4th quarter valued at approximately $64,000. Summit Investment Advisors Inc. lifted its position in shares of Wolverine World Wide by 7.5% in the 4th 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 period. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Wolverine World Wide during the 4th quarter worth approximately $204,000. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Wolverine World Wide Price Performance

NYSE:WWW traded down $0.11 on Thursday, reaching $23.25. The stock had a trading volume of 1,221,880 shares, compared to its average volume of 1,395,489. The company has a quick ratio of 0.77, a current ratio of 1.26 and a debt-to-equity ratio of 1.76. The company has a market capitalization of $1.88 billion, a P/E ratio of 26.72 and a beta of 1.70. Wolverine World Wide, Inc. has a 1-year low of $9.58 and a 1-year high of $24.64. The stock has a fifty day moving average price of $18.46 and a 200-day moving average price of $17.02.

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

Wolverine World Wide Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 1st will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend is Tuesday, July 1st. Wolverine World Wide's dividend payout ratio is currently 45.98%.

Analyst Upgrades and Downgrades

WWW has been the subject of a number of recent research reports. Piper Sandler cut their target price on Wolverine World Wide from $27.00 to $18.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. Argus raised shares of Wolverine World Wide from a "hold" rating to a "buy" rating and set a $20.00 price target on the stock in a report on Friday, May 16th. Robert W. Baird increased their price objective on shares of Wolverine World Wide from $15.00 to $20.00 and gave the company an "outperform" rating in a research note on Tuesday, May 6th. UBS Group lifted their target price on shares of Wolverine World Wide from $18.00 to $22.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Finally, Stifel Nicolaus dropped their price target on shares of Wolverine World Wide from $27.00 to $19.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $19.75.

About Wolverine World Wide

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.