Envestnet Asset Management Inc. Trims Stock Holdings in Wolverine World Wide, Inc. (NYSE:WWW)

Key Points

• Envestnet Asset Management Inc. has reduced its holdings in Wolverine World Wide, Inc. by 5.2%, now owning approximately 0.39% of the company, valued at roughly $4.43 million.
• The company reported a net income of $0.18 EPS for the last quarter, surpassing analysts' expectations of $0.11, with a revenue of $412.3 million.
• Wolverine World Wide has announced a quarterly dividend of $0.10 per share, with a total annualized dividend of $0.40, reflecting a yield of 1.72% and a payout ratio of 45.98%.

Envestnet Asset Management Inc. reduced its stake in shares of Wolverine World Wide, Inc. (NYSE:WWW - Free Report) by 5.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 318,258 shares of the textile maker's stock after selling 17,408 shares during the quarter. Envestnet Asset Management Inc. owned about 0.39% of Wolverine World Wide worth $4,427,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. increased its stake in Wolverine World Wide by 2.3% during the first quarter. Principal Financial Group Inc. now owns 399,738 shares of the textile maker's stock worth $5,560,000 after acquiring an additional 9,029 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of Wolverine World Wide in the first quarter worth approximately $163,000. WCM Investment Management LLC bought a new stake in shares of Wolverine World Wide during the 1st quarter worth approximately $7,164,000. Illinois Municipal Retirement Fund boosted its holdings in Wolverine World Wide by 8.4% during the 1st 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 during the period. Finally, Oppenheimer Asset Management Inc. grew its position in Wolverine World Wide by 4.5% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 153,754 shares of the textile maker's stock valued at $2,139,000 after acquiring an additional 6,624 shares during the last quarter. 90.25% of the stock is owned by institutional investors.

Wolverine World Wide Stock Down 0.3%

Shares of Wolverine World Wide stock traded down $0.06 during trading on Tuesday, reaching $23.75. The company's stock had a trading volume of 147,620 shares, compared to its average volume of 1,445,867. 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 company has a market cap of $1.92 billion, a price-to-earnings ratio of 27.26 and a beta of 1.70. Wolverine World Wide, Inc. has a 1-year low of $9.58 and a 1-year high of $24.64. The company has a 50-day simple moving average of $18.72 and a two-hundred day simple moving average of $16.95.

Wolverine World Wide (NYSE:WWW - Get Free Report) last posted 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 firm had revenue of $412.30 million during the quarter, compared to analysts' expectations of $395.94 million. Wolverine World Wide had a return on equity of 28.74% and a net margin of 4.15%. The business's quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.11 EPS. As a group, equities analysts forecast that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current year.

Wolverine World Wide Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Tuesday, July 1st will be given a $0.10 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.68%. Wolverine World Wide's payout ratio is 45.98%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on WWW. Robert W. Baird lifted their target price on Wolverine World Wide from $15.00 to $20.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. Piper Sandler dropped 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. UBS Group set a $30.00 price objective on Wolverine World Wide and gave the stock a "buy" rating in a research note on Monday. Baird R W raised Wolverine World Wide from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 21st. Finally, Stifel Nicolaus dropped 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. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $20.75.

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.