GAMMA Investing LLC Grows Stock Position in Wolverine World Wide, Inc. (NYSE:WWW)

GAMMA Investing LLC increased its position in shares of Wolverine World Wide, Inc. (NYSE:WWW - Free Report) by 1,380.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 74,850 shares of the textile maker's stock after purchasing an additional 69,793 shares during the quarter. GAMMA Investing LLC owned 0.09% of Wolverine World Wide worth $1,041,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of WWW. Savant Capital LLC acquired a new position in shares of Wolverine World Wide during the 4th quarter worth $205,000. Principal Financial Group Inc. grew its position in shares of Wolverine World Wide by 3.1% in the fourth quarter. Principal Financial Group Inc. now owns 390,709 shares of the textile maker's stock valued at $8,674,000 after purchasing an additional 11,667 shares during the last quarter. Ieq Capital LLC acquired a new stake in shares of Wolverine World Wide in the fourth quarter valued at approximately $234,000. Los Angeles Capital Management LLC purchased a new position in shares of Wolverine World Wide during the 4th quarter worth approximately $1,781,000. Finally, Oppenheimer Asset Management Inc. raised its position in shares of Wolverine World Wide by 0.9% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 147,130 shares of the textile maker's stock worth $3,266,000 after purchasing an additional 1,270 shares during the last quarter. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

Wolverine World Wide Trading Down 1.4%

Shares of Wolverine World Wide stock traded down $0.24 during trading hours on Friday, reaching $17.36. The stock had a trading volume of 649,358 shares, compared to its average volume of 1,368,286. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of 19.97 and a beta of 1.71. Wolverine World Wide, Inc. has a 1 year low of $9.58 and a 1 year high of $24.64. The company has a current ratio of 1.26, a quick ratio of 0.77 and a debt-to-equity ratio of 1.76. The firm has a 50 day simple moving average of $15.37 and a two-hundred day simple moving average of $17.59.

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, topping the consensus estimate of $0.11 by $0.07. Wolverine World Wide had a net margin of 4.15% and a return on equity of 28.74%. The company had revenue of $412.30 million during the quarter, compared to the consensus estimate of $395.94 million. During the same period in the previous year, the firm earned $0.11 earnings per share. Wolverine World Wide's revenue for the quarter was up 4.4% on a year-over-year basis. As a group, equities research analysts anticipate that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current year.

Wolverine World Wide Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 1st will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend is Tuesday, July 1st. Wolverine World Wide's dividend payout ratio (DPR) is presently 45.98%.

Analyst Ratings Changes

WWW has been the topic of a number of analyst reports. Baird R W upgraded Wolverine World Wide from a "hold" rating to a "strong-buy" rating in a report on Monday, April 21st. Piper Sandler reduced their price objective on Wolverine World Wide from $27.00 to $18.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th. 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 research report on Friday, May 16th. UBS Group boosted their target price on shares of Wolverine World Wide from $18.00 to $22.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Finally, Robert W. Baird lifted their price target 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. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $19.75.

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.