Corebridge Financial Inc. Has $939,000 Holdings in Wolverine World Wide, Inc. (NYSE:WWW)

Corebridge Financial Inc. trimmed its holdings in Wolverine World Wide, Inc. (NYSE:WWW) by 7.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,292 shares of the textile maker’s stock after selling 3,301 shares during the period. Corebridge Financial Inc. owned 0.05% of Wolverine World Wide worth $939,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. LPL Financial LLC acquired a new stake in shares of Wolverine World Wide during the 4th quarter worth about $378,000. KLP Kapitalforvaltning AS bought a new stake in shares of Wolverine World Wide during the fourth quarter worth approximately $355,000. AXQ Capital LP acquired a new position in shares of Wolverine World Wide in the fourth quarter valued at approximately $310,000. Hillsdale Investment Management Inc. acquired a new stake in Wolverine World Wide during the 4th quarter worth approximately $4,317,000. Finally, Sei Investments Co. lifted its holdings in Wolverine World Wide by 0.3% during the 4th quarter. Sei Investments Co. now owns 623,788 shares of the textile maker’s stock worth $13,848,000 after purchasing an additional 1,941 shares during the last quarter. 90.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Stifel Nicolaus raised Wolverine World Wide from a “hold” rating to a “buy” rating and upped their price objective for the company from $21.00 to $29.00 in a report on Wednesday, December 11th. StockNews.com downgraded shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th. UBS Group dropped their price objective on shares of Wolverine World Wide from $29.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Robert W. Baird lowered their target price on shares of Wolverine World Wide from $21.00 to $18.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $23.00 price target on shares of Wolverine World Wide in a research note on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $21.50.

Wolverine World Wide Price Performance

Wolverine World Wide stock opened at $11.73 on Friday. 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 $9.07 and a 52 week high of $24.64. The stock has a market capitalization of $950.70 million, a P/E ratio of 21.33 and a beta of 1.93. The stock has a fifty day moving average of $16.47 and a 200-day moving average of $18.94.

Wolverine World Wide (NYSE:WWW) last issued its 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 the consensus estimate of $485.74 million. During the same quarter in the previous year, the firm earned ($0.30) earnings per share. The business’s quarterly revenue was down 6.1% on a year-over-year basis. On average, sell-side analysts expect 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 Thursday, May 1st. Shareholders of record on Tuesday, April 1st will be given a $0.10 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $0.40 dividend on an annualized basis and a yield of 3.41%. Wolverine World Wide’s dividend payout ratio 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.