Jupiter Asset Management Ltd. Makes New $3.44 Million Investment in Wolverine World Wide, Inc. (NYSE:WWW)

Key Points

• Jupiter Asset Management Ltd. has acquired a new stake in Wolverine World Wide, Inc., purchasing 247,280 shares valued at approximately $3,440,000, making up around 0.31% of the company's stock.
• Wolverine World Wide reported an earnings per share (EPS) of $0.18 for the last quarter, exceeding analysts' expectations of $0.11, alongside revenue of $412.30 million.
• The company announced a quarterly dividend of $0.10 per share, with an annualized dividend yield of 1.8%, set to be paid on November 3rd.

Jupiter Asset Management Ltd. acquired a new position in shares of Wolverine World Wide, Inc. (NYSE:WWW - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 247,280 shares of the textile maker's stock, valued at approximately $3,440,000. Jupiter Asset Management Ltd. owned about 0.31% of Wolverine World Wide as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in WWW. Cambridge Investment Research Advisors Inc. purchased a new position in Wolverine World Wide in the first quarter valued at about $608,000. JPMorgan Chase & Co. increased its position 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 valued at $53,854,000 after purchasing an additional 998,916 shares during the period. Illinois Municipal Retirement Fund boosted its stake in shares of Wolverine World Wide by 8.4% during the 1st quarter. Illinois Municipal Retirement Fund now owns 44,317 shares of the textile maker's stock worth $616,000 after acquiring an additional 3,441 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of Wolverine World Wide by 179.1% in the fourth quarter. Nuveen Asset Management LLC now owns 628,338 shares of the textile maker's stock valued at $13,949,000 after purchasing an additional 403,176 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Wolverine World Wide during the fourth quarter worth $204,000. Hedge funds and other institutional investors own 90.25% of the company's stock.

Analyst Ratings Changes

WWW has been the subject of several analyst reports. Telsey Advisory Group restated a "market perform" rating and issued a $17.00 target price on shares of Wolverine World Wide in a report on Wednesday, July 30th. UBS Group set a $30.00 price target on shares of Wolverine World Wide and gave the company a "buy" rating in a report on Monday, July 28th. Baird R W raised shares of Wolverine World Wide from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 21st. Robert W. Baird boosted their price objective on Wolverine World Wide from $15.00 to $20.00 and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Finally, Piper Sandler increased their price target on shares of Wolverine World Wide from $20.00 to $25.00 and gave the company an "overweight" rating in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $21.63.

Wolverine World Wide Price Performance

NYSE WWW traded up $0.63 on Tuesday, hitting $23.51. The stock had a trading volume of 3,790,679 shares, compared to its average volume of 1,517,136. Wolverine World Wide, Inc. has a 52-week low of $9.58 and a 52-week high of $24.64. 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 $1.91 billion, a price-to-earnings ratio of 27.02 and a beta of 1.74. The firm has a 50-day moving average of $19.32 and a 200-day moving average of $16.94.

Wolverine World Wide (NYSE:WWW - Get Free Report) last posted its quarterly 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 firm had revenue of $412.30 million for the quarter, compared to the consensus estimate 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 revenue was up 4.4% compared to the same quarter last year. During the same period last year, the firm posted $0.11 earnings per share. Equities analysts expect that Wolverine World Wide, Inc. will post 1.23 EPS for the current year.

Wolverine World Wide Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Wednesday, October 1st. Wolverine World Wide's dividend payout ratio is 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.