Franklin Resources Inc. Makes New Investment in Wolverine World Wide, Inc. (NYSE:WWW)

Franklin Resources Inc. purchased a new position in shares of Wolverine World Wide, Inc. (NYSE:WWW - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 46,506 shares of the textile maker's stock, valued at approximately $1,032,000. Franklin Resources Inc. owned about 0.06% of Wolverine World Wide as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the stock. SBI Securities Co. Ltd. purchased a new stake in shares of Wolverine World Wide during the 4th quarter worth about $25,000. Signaturefd LLC grew its stake in Wolverine World Wide by 88.8% during the fourth quarter. Signaturefd LLC now owns 1,450 shares of the textile maker's stock worth $32,000 after buying an additional 682 shares during the period. KBC Group NV grew its stake in Wolverine World Wide by 43.8% during the fourth quarter. KBC Group NV now owns 4,303 shares of the textile maker's stock worth $96,000 after buying an additional 1,311 shares during the period. GAMMA Investing LLC increased its position in shares of Wolverine World Wide by 12.5% in the fourth quarter. GAMMA Investing LLC now owns 5,057 shares of the textile maker's stock worth $112,000 after acquiring an additional 563 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Wolverine World Wide during the 3rd quarter valued at $113,000. Hedge funds and other institutional investors own 90.25% of the company's stock.

Wolverine World Wide Stock Up 2.5 %

NYSE WWW traded up $0.26 during trading hours on Friday, reaching $10.80. 1,127,723 shares of the company traded hands, compared to its average volume of 1,300,247. The company has a 50 day moving average of $13.80 and a two-hundred day moving average of $18.48. The stock has a market capitalization of $875.42 million, a PE ratio of 19.64 and a beta of 1.74. Wolverine World Wide, Inc. has a 12 month low of $9.58 and a 12 month high of $24.64. The company has a current ratio of 1.29, a quick ratio of 0.77 and a debt-to-equity ratio of 1.79.

Wolverine World Wide (NYSE:WWW - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The textile maker reported $0.42 EPS for the quarter, hitting analysts' consensus estimates of $0.42. Wolverine World Wide had a return on equity of 26.81% and a net margin of 2.73%. The business had revenue of $494.70 million during the quarter, compared to the consensus estimate of $485.74 million. During the same period last year, the firm earned ($0.30) earnings per share. The company's revenue for the quarter was down 6.1% compared to the same quarter last year. As a group, equities analysts expect that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current year.

Wolverine World Wide Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 1st will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 3.70%. The ex-dividend date is Tuesday, April 1st. Wolverine World Wide's dividend payout ratio (DPR) is presently 72.73%.

Analysts Set New Price Targets

Several analysts recently issued reports on WWW shares. Robert W. Baird lowered their price target on Wolverine World Wide from $21.00 to $18.00 and set a "neutral" rating for the company in a report on Thursday, February 20th. StockNews.com downgraded Wolverine World Wide from a "buy" rating to a "hold" rating in a report on Tuesday, February 11th. UBS Group decreased their price target on Wolverine World Wide from $29.00 to $26.00 and set a "buy" rating for the company in a report on Thursday, February 20th. Piper Sandler dropped their price objective 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. Finally, Telsey Advisory Group reissued a "market perform" rating and set a $23.00 target price on shares of Wolverine World Wide in a research report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, Wolverine World Wide currently has a consensus rating of "Moderate Buy" and an average price target of $20.25.

Wolverine World Wide Company 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.