Readystate Asset Management LP Buys 98,074 Shares of Wolverine World Wide, Inc. (NYSE:WWW)

Readystate Asset Management LP grew its holdings in Wolverine World Wide, Inc. (NYSE:WWW - Free Report) by 113.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 184,212 shares of the textile maker's stock after buying an additional 98,074 shares during the period. Readystate Asset Management LP owned 0.23% of Wolverine World Wide worth $2,562,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings 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 worth $53,854,000 after purchasing an additional 998,916 shares during the last quarter. Capital Research Global Investors acquired a new stake in Wolverine World Wide during the 4th quarter worth approximately $13,943,000. WCM Investment Management LLC acquired a new stake in Wolverine World Wide during the 1st quarter worth approximately $7,164,000. Nuveen Asset Management LLC lifted its holdings in Wolverine World Wide by 179.1% during the 4th quarter. Nuveen Asset Management LLC now owns 628,338 shares of the textile maker's stock worth $13,949,000 after purchasing an additional 403,176 shares during the last quarter. Finally, First Trust Advisors LP acquired a new stake in Wolverine World Wide during the 4th quarter worth approximately $7,862,000. 90.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Argus upgraded 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. Stifel Nicolaus lowered their price objective on Wolverine World Wide from $27.00 to $19.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Baird R W upgraded Wolverine World Wide from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 21st. UBS Group raised their price objective on Wolverine World Wide from $18.00 to $22.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Finally, Piper Sandler lowered their price objective on Wolverine World Wide from $27.00 to $18.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. Two investment 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 company currently has a consensus rating of "Moderate Buy" and a consensus price target of $19.75.

Wolverine World Wide Price Performance

Shares of WWW traded up $0.02 during midday trading on Friday, hitting $23.25. The company's stock had a trading volume of 634,635 shares, compared to its average volume of 1,446,744. Wolverine World Wide, Inc. has a one year low of $9.58 and a one year high of $24.64. The company's fifty day simple moving average is $18.46 and its two-hundred day simple moving average is $17.02. The company has a quick ratio of 0.77, a current ratio of 1.26 and a debt-to-equity ratio of 1.76. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of 26.72 and a beta of 1.70.

Wolverine World Wide (NYSE:WWW - Get Free Report) last issued its quarterly earnings data 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 business 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.11 EPS. As a group, equities analysts expect that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current fiscal year.

Wolverine World Wide Dividend Announcement

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 issued a $0.10 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $0.40 dividend on an annualized basis and a yield of 1.72%. Wolverine World Wide's dividend payout ratio (DPR) is presently 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.