Wolverine World Wide, Inc. $WWW Shares Bought by Public Sector Pension Investment Board

Public Sector Pension Investment Board lifted its stake in Wolverine World Wide, Inc. (NYSE:WWW - Free Report) by 44.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 287,798 shares of the textile maker's stock after purchasing an additional 88,322 shares during the period. Public Sector Pension Investment Board owned about 0.36% of Wolverine World Wide worth $4,003,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. bought a new position in shares of Wolverine World Wide in the first quarter worth about $608,000. Illinois Municipal Retirement Fund raised its holdings in shares of Wolverine World Wide by 8.4% in the first quarter. Illinois Municipal Retirement Fund now owns 44,317 shares of the textile maker's stock valued at $616,000 after acquiring an additional 3,441 shares in the last quarter. Jupiter Asset Management Ltd. bought a new stake in shares of Wolverine World Wide in the first quarter valued at about $3,440,000. Nuveen Asset Management LLC raised 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 acquiring an additional 403,176 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in shares of Wolverine World Wide in the fourth quarter valued at about $204,000. 90.25% of the stock is currently owned by institutional investors.

Wolverine World Wide Stock Up 1.4%

NYSE:WWW traded up $0.3960 during mid-day trading on Wednesday, hitting $28.6060. 1,754,035 shares of the company's stock traded hands, compared to its average volume of 1,535,883. The company has a fifty day moving average of $21.53 and a 200 day moving average of $17.33. Wolverine World Wide, Inc. has a twelve month low of $9.58 and a twelve month high of $28.97. The company has a market capitalization of $2.32 billion, a P/E ratio of 28.05 and a beta of 1.74. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.75 and a current ratio of 1.24.

Wolverine World Wide (NYSE:WWW - Get Free Report) last announced its earnings results on Wednesday, August 6th. The textile maker reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.12. Wolverine World Wide had a return on equity of 31.99% and a net margin of 4.73%.The company had revenue of $474.20 million for the quarter, compared to analyst estimates of $447.82 million. During the same period in the prior year, the company posted $0.15 EPS. The firm's quarterly revenue was up 11.5% compared to the same quarter last year. On average, analysts forecast that Wolverine World Wide, Inc. will post 1.23 EPS for the current year.

Wolverine World Wide Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Wednesday, October 1st will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $0.40 dividend on an annualized basis and a yield of 1.4%. Wolverine World Wide's payout ratio is currently 39.22%.

Analyst Ratings Changes

WWW has been the subject of several recent research reports. Argus upgraded Wolverine World Wide from a "hold" rating to a "buy" rating and set a $20.00 price objective for the company in a report on Friday, May 16th. UBS Group lifted their price objective on Wolverine World Wide from $30.00 to $36.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Wall Street Zen upgraded Wolverine World Wide from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Piper Sandler restated an "overweight" rating and issued a $25.00 price objective (up from $20.00) on shares of Wolverine World Wide in a report on Tuesday, August 5th. Finally, 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 report on Tuesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Wolverine World Wide has an average rating of "Buy" and an average target price of $25.38.

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.