Geode Capital Management LLC Sells 6,453 Shares of Wolverine World Wide, Inc. (NYSE:WWW)

Geode Capital Management LLC lowered its stake in Wolverine World Wide, Inc. (NYSE:WWW) by 0.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,785,336 shares of the textile maker’s stock after selling 6,453 shares during the quarter. Geode Capital Management LLC owned about 2.23% of Wolverine World Wide worth $39,644,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its holdings in shares of 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. Arrowstreet Capital Limited Partnership lifted its position in shares of Wolverine World Wide by 5.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,670,760 shares of the textile maker’s stock worth $37,091,000 after purchasing an additional 86,475 shares in the last quarter. Savant Capital LLC acquired a new position in Wolverine World Wide during the fourth quarter worth $205,000. Pacer Advisors Inc. bought a new position in Wolverine World Wide in the fourth quarter valued at $64,943,000. Finally, Amundi increased its stake 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 buying an additional 29,072 shares during the last quarter. Institutional investors and hedge funds own 90.25% of the company’s stock.

Wolverine World Wide Price Performance

WWW stock opened at $10.74 on Wednesday. The company has a 50 day simple moving average of $14.41 and a 200 day simple moving average of $18.62. The stock has a market cap of $869.91 million, a price-to-earnings ratio of 19.52 and a beta of 1.74. Wolverine World Wide, Inc. has a 1 year low of $9.15 and a 1 year high of $24.64. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.29 and a quick ratio of 0.77.

Wolverine World Wide (NYSE:WWW) last released its quarterly earnings data on Wednesday, February 19th. The textile maker reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. The company had revenue of $494.70 million during the quarter, compared to the consensus estimate 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 was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.30) earnings per share. Research analysts anticipate that Wolverine World Wide, Inc. will post 1.23 EPS for the current fiscal year.

Wolverine World Wide Announces Dividend

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 3.73%. Wolverine World Wide’s dividend payout ratio is currently 72.73%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Piper Sandler lowered their target price 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. Robert W. Baird lowered their price target on Wolverine World Wide from $21.00 to $18.00 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. StockNews.com cut Wolverine World Wide from a “buy” rating to a “hold” rating in a research 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 for the company in a report on Thursday, April 10th. Finally, UBS Group decreased their target price on Wolverine World Wide from $29.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $20.25.

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.