Gotham Asset Management LLC Takes $2.26 Million Position in Wolverine World Wide, Inc. (NYSE:WWW)

Gotham Asset Management LLC bought a new stake in Wolverine World Wide, Inc. (NYSE:WWW - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 101,726 shares of the textile maker's stock, valued at approximately $2,258,000. Gotham Asset Management LLC owned approximately 0.13% of Wolverine World Wide as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. JPMorgan Chase & Co. raised its holdings in shares of 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 purchasing an additional 998,916 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Wolverine World Wide by 5.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,670,760 shares of the textile maker's stock valued at $37,091,000 after acquiring an additional 86,475 shares in the last quarter. Savant Capital LLC purchased a new stake in Wolverine World Wide during the 4th quarter valued at about $205,000. Pacer Advisors Inc. purchased a new stake in Wolverine World Wide during the 4th quarter valued at about $64,943,000. Finally, Amundi boosted its holdings in Wolverine World Wide by 161.5% in the 4th quarter. Amundi now owns 47,074 shares of the textile maker's stock valued at $1,067,000 after purchasing an additional 29,072 shares during the last quarter. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Wolverine World Wide Stock Down 0.4%

Shares of WWW stock traded down $0.07 on Monday, hitting $17.05. The stock had a trading volume of 924,957 shares, compared to its average volume of 1,344,500. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 31.00 and a beta of 1.62. The stock's 50 day moving average is $13.28 and its 200-day moving average is $18.20. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.77 and a current ratio of 1.29. Wolverine World Wide, Inc. has a 52-week low of $9.58 and a 52-week high of $24.64.

Wolverine World Wide (NYSE:WWW - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The textile maker reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.07. The firm had revenue of $412.30 million for the quarter, compared to analysts' expectations of $395.94 million. Wolverine World Wide had a net margin of 2.73% and a return on equity of 26.81%. The firm's quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.11 earnings per share. As a group, research analysts expect 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 disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Tuesday, July 1st will be issued 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 2.35%. Wolverine World Wide's dividend payout ratio (DPR) is presently 45.98%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Robert W. Baird upped their price objective 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. Baird R W upgraded shares of Wolverine World Wide from a "hold" rating to a "strong-buy" rating in a report on Monday, April 21st. StockNews.com downgraded shares of Wolverine World Wide from a "buy" rating to a "hold" rating in a research report on Tuesday, February 11th. Piper Sandler lowered 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 report on Friday, April 11th. Finally, UBS Group raised their price objective on shares of Wolverine World Wide from $18.00 to $22.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Two investment 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. Based on data from MarketBeat, Wolverine World Wide presently has an average rating of "Moderate Buy" and a consensus target price 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.