Massar Capital Management LP Purchases Shares of 23,573 Wolverine World Wide, Inc. (NYSE:WWW)

Massar Capital Management LP bought a new stake in shares of Wolverine World Wide, Inc. (NYSE:WWW - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 23,573 shares of the textile maker's stock, valued at approximately $523,000.

Other hedge funds have also recently made changes to their positions in the company. FMR LLC raised its position in Wolverine World Wide by 2.2% in the 4th quarter. FMR LLC now owns 11,766,527 shares of the textile maker's stock worth $261,217,000 after purchasing an additional 249,456 shares during the period. Pacer Advisors Inc. purchased a new stake in Wolverine World Wide in the 4th quarter worth about $64,943,000. JPMorgan Chase & Co. raised its position in Wolverine World Wide by 70.0% in the 4th 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 period. Geode Capital Management LLC increased its position in shares of Wolverine World Wide by 1.0% during the third quarter. Geode Capital Management LLC now owns 1,791,789 shares of the textile maker's stock worth $31,219,000 after acquiring an additional 17,400 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Wolverine World Wide by 5.5% during the fourth 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. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

Wolverine World Wide Stock Down 1.2 %

Shares of WWW traded down $0.15 during trading hours on Friday, hitting $12.73. The company had a trading volume of 1,160,973 shares, compared to its average volume of 1,313,969. The company has a market capitalization of $1.03 billion, a PE ratio of 23.15 and a beta of 1.74. 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, Inc. has a one year low of $9.58 and a one year high of $24.64. The company's fifty day moving average price is $13.18 and its two-hundred day moving average price is $18.32.

Wolverine World Wide (NYSE:WWW - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The textile maker reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. Wolverine World Wide had a return on equity of 26.81% and a net margin of 2.73%. The firm had revenue of $494.70 million during the quarter, compared to analyst estimates of $485.74 million. During the same period in the previous year, the company posted ($0.30) EPS. The business's revenue for the quarter was down 6.1% compared to the same quarter last year. As a group, equities 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 firm also recently announced 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. The ex-dividend date is Tuesday, April 1st. This represents a $0.40 annualized dividend and a yield of 3.14%. Wolverine World Wide's dividend payout ratio (DPR) is 72.73%.

Analyst Ratings Changes

WWW has been the topic of several research reports. 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 report on Friday, April 11th. UBS Group lifted their target price on Wolverine World Wide from $17.00 to $18.00 and gave the company a "buy" rating in a research report on Tuesday, April 22nd. Robert W. Baird raised Wolverine World Wide from a "neutral" rating to an "outperform" rating and set a $15.00 target price for the company in a research report on Monday, April 21st. Telsey Advisory Group reaffirmed 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. Finally, Stifel Nicolaus decreased their target price on Wolverine World Wide from $27.00 to $19.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Wolverine World Wide currently has an average rating of "Moderate Buy" and a consensus price target of $18.88.

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.