Manning & Napier Advisors LLC lifted its holdings in shares of Wolverine World Wide, Inc. (NYSE:WWW - Free Report) by 64.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 800,000 shares of the textile maker's stock after buying an additional 313,997 shares during the quarter. Manning & Napier Advisors LLC owned about 0.99% of Wolverine World Wide worth $11,128,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of WWW. SBI Securities Co. Ltd. bought a new stake in shares of Wolverine World Wide during the 4th quarter valued at $25,000. Signaturefd LLC grew its stake 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 worth $32,000 after purchasing an additional 682 shares during the period. Natixis bought a new stake in Wolverine World Wide in the fourth quarter valued at about $41,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Wolverine World Wide in the fourth quarter valued at about $64,000. Finally, Smartleaf Asset Management LLC boosted its holdings in Wolverine World Wide by 375.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 5,552 shares of the textile maker's stock worth $122,000 after buying an additional 4,384 shares during the last quarter. 90.25% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on WWW. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $17.00 price target on shares of Wolverine World Wide in a research note on Friday, May 9th. Robert W. Baird upped their target price 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. Piper Sandler decreased their price target on shares of Wolverine World Wide from $27.00 to $18.00 and set an "overweight" rating for the company in a report on Friday, April 11th. 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 research note on Friday, May 16th. Finally, Stifel Nicolaus decreased their target price on Wolverine World Wide from $27.00 to $19.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $19.75.
View Our Latest Research Report on WWW
Wolverine World Wide Price Performance
Shares of NYSE WWW traded down $0.20 during midday trading on Monday, reaching $17.07. The company's stock had a trading volume of 516,251 shares, compared to its average volume of 1,449,762. 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 cap of $1.38 billion, a P/E ratio of 19.62 and a beta of 1.71. The business's 50 day moving average price is $15.49 and its two-hundred day moving average price is $17.46. Wolverine World Wide, Inc. has a fifty-two week low of $9.58 and a fifty-two week high of $24.64.
Wolverine World Wide (NYSE:WWW - Get Free Report) last released its earnings results on Thursday, May 8th. The textile maker reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.07. The company had revenue of $412.30 million for 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%. Wolverine World Wide's quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.11 EPS. On average, analysts forecast that Wolverine World Wide, Inc. will post 1.23 EPS for the current fiscal year.
Wolverine World Wide Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Tuesday, July 1st will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.34%. The ex-dividend date is Tuesday, July 1st. Wolverine World Wide's dividend payout ratio (DPR) is presently 45.98%.
About Wolverine World Wide
(
Free Report)
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.
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