Point72 Asset Management L.P. Makes New $5.23 Million Investment in Wolverine World Wide, Inc. (NYSE:WWW)

Point72 Asset Management L.P. acquired a new stake in shares of Wolverine World Wide, Inc. (NYSE:WWW - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 235,391 shares of the textile maker's stock, valued at approximately $5,226,000. Point72 Asset Management L.P. owned about 0.29% of Wolverine World Wide at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. FMR LLC grew its stake in shares of Wolverine World Wide by 2.2% in the fourth quarter. FMR LLC now owns 11,766,527 shares of the textile maker's stock worth $261,217,000 after purchasing an additional 249,456 shares during the last quarter. Earnest Partners LLC grew its stake in shares of Wolverine World Wide by 0.4% in the fourth quarter. Earnest Partners LLC now owns 5,228,918 shares of the textile maker's stock worth $116,082,000 after purchasing an additional 19,295 shares during the last quarter. Pacer Advisors Inc. bought a new stake in shares of Wolverine World Wide in the fourth quarter worth about $64,943,000. JPMorgan Chase & Co. boosted its position in 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 acquiring an additional 998,916 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in Wolverine World Wide by 5.5% during 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 acquiring an additional 86,475 shares in the last quarter. 90.25% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

WWW has been the topic of several research reports. Wall Street Zen cut Wolverine World Wide from a "buy" rating to a "hold" rating in a research report on Tuesday, February 11th. Robert W. Baird lifted their price objective on Wolverine World Wide from $15.00 to $20.00 and gave the company an "outperform" rating in a research report on Tuesday, May 6th. Stifel Nicolaus cut their price objective on Wolverine World Wide from $27.00 to $19.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Baird R W raised Wolverine World Wide from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 21st. Finally, UBS Group lifted 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. 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's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $19.75.

Wolverine World Wide Stock Down 2.7%

WWW stock traded down $0.46 during midday trading on Friday, hitting $16.36. The company's stock had a trading volume of 789,974 shares, compared to its average volume of 1,349,914. The company has a market cap of $1.33 billion, a PE ratio of 29.75 and a beta of 1.62. Wolverine World Wide, Inc. has a 12 month low of $9.58 and a 12 month high of $24.64. The company has a current ratio of 1.29, a quick ratio of 0.77 and a debt-to-equity ratio of 1.79. The firm's 50-day moving average is $13.62 and its 200-day moving average is $18.20.

Wolverine World Wide (NYSE:WWW - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The textile maker reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.07. The business had revenue of $412.30 million for the quarter, compared to analysts' expectations of $395.94 million. Wolverine World Wide had a return on equity of 26.81% and a net margin of 2.73%. The firm'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, equities research 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 company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Tuesday, July 1st will be issued a dividend of $0.10 per share. The ex-dividend date is Tuesday, July 1st. This represents a $0.40 annualized dividend and a dividend yield of 2.44%. Wolverine World Wide's payout ratio is 45.98%.

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.