State of Tennessee Department of Treasury Purchases 23,287 Shares of Wolverine World Wide, Inc. (NYSE:WWW)

State of Tennessee Department of Treasury lifted its position in Wolverine World Wide, Inc. (NYSE:WWW - Free Report) by 114.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,567 shares of the textile maker's stock after buying an additional 23,287 shares during the quarter. State of Tennessee Department of Treasury owned approximately 0.05% of Wolverine World Wide worth $967,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Pacer Advisors Inc. purchased a new position in shares of Wolverine World Wide during the fourth quarter worth about $64,943,000. JPMorgan Chase & Co. raised its position in shares of Wolverine World Wide by 1,263.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,426,942 shares of the textile maker's stock valued at $24,857,000 after buying an additional 1,322,254 shares in the last quarter. Capital Research Global Investors purchased a new position in Wolverine World Wide in the fourth quarter worth $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, FMR LLC increased its stake in Wolverine World Wide by 2.2% in the fourth quarter. FMR LLC now owns 11,766,527 shares of the textile maker's stock valued at $261,217,000 after acquiring an additional 249,456 shares during the last quarter. Hedge funds and other institutional investors own 90.25% of the company's stock.

Wall Street Analysts Forecast Growth

WWW has been the topic of several recent 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 research report on Friday, April 11th. StockNews.com lowered shares of Wolverine World Wide from a "buy" rating to a "hold" rating in a report on Tuesday, February 11th. Stifel Nicolaus reduced 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. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $17.00 price target on shares of Wolverine World Wide in a research note on Thursday, May 1st. Finally, Baird R W raised shares of Wolverine World Wide from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 21st. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $18.75.

Wolverine World Wide Trading Up 0.2 %

Shares of NYSE:WWW traded up $0.03 on Tuesday, hitting $14.25. The company had a trading volume of 1,190,789 shares, compared to its average volume of 1,453,507. Wolverine World Wide, Inc. has a 1 year low of $9.58 and a 1 year high of $24.64. The company has a quick ratio of 0.77, a current ratio of 1.29 and a debt-to-equity ratio of 1.79. The firm's 50-day simple moving average is $12.96 and its two-hundred day simple moving average is $18.19. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of 25.91 and a beta of 1.74.

Wolverine World Wide (NYSE:WWW - Get Free Report) last released its earnings results on Wednesday, February 19th. The textile maker reported $0.42 EPS for the quarter, meeting analysts' consensus estimates of $0.42. The company had revenue of $494.70 million during the quarter, compared to analysts' expectations of $485.74 million. Wolverine World Wide had a return on equity of 26.81% and a net margin of 2.73%. The firm's revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter last year, the business posted ($0.30) EPS. Equities analysts anticipate 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 declared 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 yield of 2.81%. Wolverine World Wide's dividend payout ratio (DPR) is currently 72.73%.

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.