Manning & Napier Advisors LLC Purchases 313,997 Shares of Wolverine World Wide, Inc. (NYSE:WWW)

Manning & Napier Advisors LLC grew its stake in shares of Wolverine World Wide, Inc. (NYSE:WWW - Free Report) by 64.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 800,000 shares of the textile maker's stock after purchasing an additional 313,997 shares during the quarter. Manning & Napier Advisors LLC owned approximately 0.99% of Wolverine World Wide worth $11,128,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. SBI Securities Co. Ltd. acquired a new position in shares of Wolverine World Wide during the fourth quarter worth approximately $25,000. Signaturefd LLC lifted its position in Wolverine World Wide by 88.8% in 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 acquired a new stake in Wolverine World Wide in the fourth quarter worth approximately $41,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Wolverine World Wide in the fourth quarter worth approximately $64,000. Finally, Smartleaf Asset Management LLC lifted its position in Wolverine World Wide by 375.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 5,552 shares of the textile maker's stock worth $122,000 after purchasing an additional 4,384 shares during the period. 90.25% of the stock is owned by institutional investors.

Wolverine World Wide Trading Up 3.3%

WWW traded up $0.57 during midday trading on Wednesday, reaching $17.85. 1,259,843 shares of the company were exchanged, compared to its average volume of 1,332,852. 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 stock has a market capitalization of $1.45 billion, a P/E ratio of 20.52 and a beta of 1.71. The stock's 50-day simple moving average is $15.75 and its 200 day simple moving average is $17.42. 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 announced its earnings results on Thursday, May 8th. The textile maker reported $0.18 earnings per share 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 net margin of 4.15% and a return on equity of 28.74%. The company's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.11 EPS. As a group, analysts forecast that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current fiscal year.

Wolverine World Wide Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 1st will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, July 1st. This represents a $0.40 annualized dividend and a yield of 2.24%. Wolverine World Wide's dividend payout ratio (DPR) is presently 45.98%.

Wall Street Analyst Weigh In

WWW has been the topic of several recent research reports. Robert W. Baird lifted their price objective on shares of Wolverine World Wide from $15.00 to $20.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. UBS Group increased their price objective on Wolverine World Wide from $18.00 to $22.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Telsey Advisory Group reiterated a "market perform" rating and set a $17.00 price objective on shares of Wolverine World Wide in a research report on Friday, May 9th. Baird R W upgraded Wolverine World Wide from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 21st. Finally, Stifel Nicolaus cut their price objective on 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 research 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 company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $19.75.

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.