Jacobs Levy Equity Management Inc. Increases Stock Position in Wolverine World Wide, Inc. (NYSE:WWW)

Jacobs Levy Equity Management Inc. lifted its stake in shares of Wolverine World Wide, Inc. (NYSE:WWW - Free Report) by 11.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,107,721 shares of the textile maker's stock after acquiring an additional 113,238 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 1.38% of Wolverine World Wide worth $24,591,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in WWW. Pacer Advisors Inc. bought a new position in Wolverine World Wide in the fourth quarter valued at $64,943,000. JPMorgan Chase & Co. grew its position in Wolverine World Wide by 70.0% in the fourth quarter. JPMorgan Chase & Co. now owns 2,425,858 shares of the textile maker's stock valued at $53,854,000 after purchasing an additional 998,916 shares in the last quarter. Capital Research Global Investors bought a new position in Wolverine World Wide in the fourth quarter valued at $13,943,000. First Trust Advisors LP bought a new position in Wolverine World Wide in the fourth quarter valued at $7,862,000. Finally, Driehaus Capital Management LLC grew its position in Wolverine World Wide by 135.5% in the fourth quarter. Driehaus Capital Management LLC now owns 593,693 shares of the textile maker's stock valued at $13,180,000 after purchasing an additional 341,601 shares in the last quarter. Institutional investors own 90.25% of the company's stock.

Wolverine World Wide Trading Down 0.3%

WWW traded down $0.05 during trading on Thursday, reaching $16.43. 1,231,218 shares of the company's stock were exchanged, compared to its average volume of 1,341,225. Wolverine World Wide, Inc. has a one year low of $9.58 and a one year 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. The stock has a market capitalization of $1.33 billion, a PE ratio of 29.87 and a beta of 1.62. The firm has a fifty day moving average price of $13.16 and a two-hundred day moving average price of $18.15.

Wolverine World Wide (NYSE:WWW - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The textile maker reported $0.18 EPS for the quarter, beating analysts' consensus estimates of $0.11 by $0.07. Wolverine World Wide had a net margin of 2.73% and a return on equity of 26.81%. The company had revenue of $412.30 million for the quarter, compared to analyst estimates of $395.94 million. During the same period in the prior year, the firm posted $0.11 EPS. The company's quarterly revenue was up 4.4% on a year-over-year basis. As a group, equities research analysts forecast that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current fiscal year.

Wolverine World Wide Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Tuesday, July 1st will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, July 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.43%. Wolverine World Wide's payout ratio is presently 45.98%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on WWW shares. StockNews.com cut shares of Wolverine World Wide from a "buy" rating to a "hold" rating in a research note on Tuesday, February 11th. UBS Group increased their price target 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. Piper Sandler cut their price target on shares of Wolverine World Wide from $27.00 to $18.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. Robert W. Baird increased their price target on shares of Wolverine World Wide from $15.00 to $20.00 and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Finally, Stifel Nicolaus cut their price target on shares of Wolverine World Wide from $27.00 to $19.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Wolverine World Wide presently has a consensus rating of "Moderate Buy" and a consensus price target of $19.71.

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.