Wolverine World Wide, Inc. (NYSE:WWW) Shares Bought by Nuveen Asset Management LLC

Nuveen Asset Management LLC grew its holdings in Wolverine World Wide, Inc. (NYSE:WWW - Free Report) by 179.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 628,338 shares of the textile maker's stock after purchasing an additional 403,176 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.78% of Wolverine World Wide worth $13,949,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. FMR LLC raised its holdings in shares of Wolverine World Wide by 2.2% in the 4th quarter. FMR LLC now owns 11,766,527 shares of the textile maker's stock valued at $261,217,000 after purchasing an additional 249,456 shares in the last quarter. Earnest Partners LLC raised its holdings in shares of Wolverine World Wide by 0.4% in the 4th quarter. Earnest Partners LLC now owns 5,228,918 shares of the textile maker's stock valued at $116,082,000 after purchasing an additional 19,295 shares in the last quarter. Pacer Advisors Inc. bought a new stake in shares of Wolverine World Wide in the 4th quarter valued at about $64,943,000. JPMorgan Chase & Co. raised its holdings in shares of Wolverine World Wide by 70.0% in 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 in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Wolverine World Wide by 5.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,670,760 shares of the textile maker's stock valued at $37,091,000 after purchasing an additional 86,475 shares in the last quarter. Institutional investors own 90.25% of the company's stock.

Wolverine World Wide Stock Performance

NYSE WWW traded down $0.20 during mid-day trading on Wednesday, reaching $17.24. 752,908 shares of the stock were exchanged, compared to its average volume of 1,348,310. The business's 50 day moving average is $13.74 and its 200-day moving average is $18.15. Wolverine World Wide, Inc. has a 1 year low of $9.58 and a 1 year high of $24.64. The company has a market capitalization of $1.40 billion, a P/E ratio of 31.35 and a beta of 1.62. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.77 and a current ratio of 1.29.

Wolverine World Wide (NYSE:WWW - Get Free Report) last posted 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. Wolverine World Wide had a net margin of 2.73% and a return on equity of 26.81%. The business had revenue of $412.30 million for the quarter, compared to analyst estimates of $395.94 million. During the same period in the prior year, the company posted $0.11 EPS. The company's revenue for the quarter was up 4.4% on a year-over-year basis. On average, equities research 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. Shareholders of record on Tuesday, July 1st will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend is Tuesday, July 1st. Wolverine World Wide's payout ratio is currently 45.98%.

Wall Street Analysts Forecast Growth

WWW has been the topic of a number of analyst reports. Argus raised shares of Wolverine World Wide from a "hold" rating to a "buy" rating and set a $20.00 price objective on the stock in a research report on Friday, May 16th. 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. Stifel Nicolaus cut their price target on shares of Wolverine World Wide from $27.00 to $19.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $17.00 price objective on shares of Wolverine World Wide in a report on Friday, May 9th. Finally, Piper Sandler reduced their target price 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. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $19.75.

Wolverine World Wide 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.