Squarepoint Ops LLC Purchases 182,631 Shares of Wolverine World Wide, Inc. (NYSE:WWW)

Squarepoint Ops LLC grew its stake in Wolverine World Wide, Inc. (NYSE:WWW - Free Report) by 94.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 376,071 shares of the textile maker's stock after purchasing an additional 182,631 shares during the quarter. Squarepoint Ops LLC owned approximately 0.47% of Wolverine World Wide worth $8,349,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Pacer Advisors Inc. bought a new position in shares of Wolverine World Wide in the fourth quarter valued at approximately $64,943,000. JPMorgan Chase & Co. boosted its holdings in Wolverine World Wide by 70.0% during the fourth quarter. JPMorgan Chase & Co. now owns 2,425,858 shares of the textile maker's stock worth $53,854,000 after buying an additional 998,916 shares in the last quarter. Capital Research Global Investors bought a new stake in Wolverine World Wide during the fourth quarter worth approximately $13,943,000. Nuveen Asset Management LLC boosted its holdings in Wolverine World Wide by 179.1% during the fourth quarter. Nuveen Asset Management LLC now owns 628,338 shares of the textile maker's stock worth $13,949,000 after buying an additional 403,176 shares in the last quarter. Finally, First Trust Advisors LP bought a new stake in Wolverine World Wide during the fourth quarter worth approximately $7,862,000. Institutional investors and hedge funds own 90.25% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Robert W. Baird raised their target price on shares of Wolverine World Wide from $15.00 to $20.00 and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Telsey Advisory Group reiterated a "market perform" rating and issued a $17.00 target price on shares of Wolverine World Wide in a research report on Friday, May 9th. Wall Street Zen downgraded shares of Wolverine World Wide from a "buy" rating to a "hold" rating in a report on Tuesday, February 11th. Argus upgraded shares of Wolverine World Wide from a "hold" rating to a "buy" rating and set a $20.00 target price on the stock in a research note on Friday, May 16th. Finally, Piper Sandler lowered their target price on shares of 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 equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $19.75.

Wolverine World Wide Price Performance

WWW stock traded up $0.05 during midday trading on Thursday, reaching $17.32. 237,193 shares of the company's stock traded hands, compared to its average volume of 1,345,621. The company has a market cap of $1.40 billion, a price-to-earnings ratio of 31.45 and a beta of 1.62. Wolverine World Wide, Inc. has a 1-year low of $9.58 and a 1-year high of $24.64. The company has a quick ratio of 0.77, a current ratio of 1.29 and a debt-to-equity ratio of 1.79. The company has a 50-day simple moving average of $13.81 and a two-hundred day simple moving average of $18.15.

Wolverine World Wide (NYSE:WWW - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The textile maker reported $0.18 EPS for the quarter, topping analysts' consensus estimates of $0.11 by $0.07. Wolverine World Wide had a return on equity of 26.81% and a net margin of 2.73%. The business had revenue of $412.30 million during the quarter, compared to analysts' expectations of $395.94 million. During the same period in the previous year, the firm earned $0.11 earnings per share. The firm's quarterly revenue was up 4.4% compared to the same quarter last year. On average, analysts anticipate that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current year.

Wolverine World Wide Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 1st will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend is Tuesday, July 1st. Wolverine World Wide's dividend payout ratio is 45.98%.

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.