Russell Investments Group Ltd. Boosts Holdings in Wolverine World Wide, Inc. $WWW

Key Points

• Russell Investments Group Ltd. increased its holdings in Wolverine World Wide by 15.9% in Q1, now owning 149,024 shares valued at approximately $2.07 million.
• Research firms have recently upgraded their ratings for Wolverine World Wide, with price targets ranging from $20.00 to $36.00, reflecting strong analyst support for the stock.
• The company announced a quarterly dividend of $0.10 per share, representing a 1.3% yield, to be paid on November 3rd.

Russell Investments Group Ltd. boosted its position in shares of Wolverine World Wide, Inc. (NYSE:WWW - Free Report) by 15.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 149,024 shares of the textile maker's stock after buying an additional 20,393 shares during the quarter. Russell Investments Group Ltd. owned 0.18% of Wolverine World Wide worth $2,073,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. purchased a new position in Wolverine World Wide during the first quarter worth $608,000. Illinois Municipal Retirement Fund grew 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 worth $616,000 after purchasing an additional 3,441 shares during the last quarter. Jupiter Asset Management Ltd. bought a new position in shares of Wolverine World Wide in the first quarter worth about $3,440,000. Nuveen Asset Management LLC grew 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 worth $13,949,000 after purchasing an additional 403,176 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of Wolverine World Wide in the fourth quarter worth about $204,000. 90.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on WWW. Argus upgraded shares of Wolverine World Wide from a "hold" rating to a "buy" rating and set a $20.00 price target on the stock in a report on Friday, May 16th. KeyCorp restated an "overweight" rating and issued a $32.00 price target (up from $25.00) on shares of Wolverine World Wide in a report on Thursday, August 7th. Wall Street Zen upgraded shares of Wolverine World Wide from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. UBS Group upped their price target on shares of Wolverine World Wide from $30.00 to $36.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Finally, Telsey Advisory Group restated a "market perform" rating and issued a $29.00 price target (up from $17.00) on shares of Wolverine World Wide in a report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $25.38.

Wolverine World Wide Stock Down 0.6%

NYSE:WWW opened at $30.5350 on Tuesday. Wolverine World Wide, Inc. has a 1-year low of $9.58 and a 1-year high of $31.14. The company has a 50-day moving average of $22.47 and a 200 day moving average of $17.52. The firm has a market cap of $2.48 billion, a PE ratio of 29.94 and a beta of 1.74. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.24 and a quick ratio of 0.75.

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

Wolverine World Wide Dividend Announcement

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. This represents a $0.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, October 1st. Wolverine World Wide's dividend payout ratio is presently 39.22%.

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.

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