Invesco Ltd. Acquires 83,970 Shares of Wolverine World Wide, Inc. (NYSE:WWW)

Invesco Ltd. increased its holdings in Wolverine World Wide, Inc. (NYSE:WWW) by 13.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 698,904 shares of the textile maker’s stock after purchasing an additional 83,970 shares during the period. Invesco Ltd. owned approximately 0.87% of Wolverine World Wide worth $15,516,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of WWW. FMR LLC boosted its stake in shares of Wolverine World Wide by 2.2% during the 4th quarter. FMR LLC now owns 11,766,527 shares of the textile maker’s stock worth $261,217,000 after acquiring an additional 249,456 shares in the last quarter. Pacer Advisors Inc. bought a new stake in Wolverine World Wide during the fourth quarter worth approximately $64,943,000. JPMorgan Chase & Co. raised its position 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 during the period. Geode Capital Management LLC raised its position in shares of Wolverine World Wide by 1.0% in the third quarter. Geode Capital Management LLC now owns 1,791,789 shares of the textile maker’s stock valued at $31,219,000 after purchasing an additional 17,400 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its stake 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 buying an additional 86,475 shares during the last quarter. 90.25% of the stock is owned by institutional investors and hedge funds.

Wolverine World Wide Price Performance

Shares of Wolverine World Wide stock opened at $10.80 on Monday. The firm has a market cap of $875.42 million, a P/E ratio of 19.64 and a beta of 1.74. The firm’s 50-day simple moving average is $13.80 and its 200-day simple moving average is $18.48. Wolverine World Wide, Inc. has a twelve month low of $9.58 and a twelve month high of $24.64. 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 (NYSE:WWW) last released its quarterly earnings data on Wednesday, February 19th. The textile maker reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. The company had revenue of $494.70 million for the quarter, compared to analyst estimates of $485.74 million. Wolverine World Wide had a return on equity of 26.81% and a net margin of 2.73%. The company’s revenue was down 6.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.30) EPS. As a group, research analysts expect that Wolverine World Wide, Inc. will post 1.23 EPS for the current fiscal year.

Wolverine World Wide Announces Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 3.70%. Wolverine World Wide’s payout ratio is 72.73%.

Analysts Set New Price Targets

WWW has been the topic of several recent analyst reports. Telsey Advisory Group reiterated a “market perform” rating and issued a $23.00 target price on shares of Wolverine World Wide in a report on Wednesday, February 19th. 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 note on Thursday, April 10th. Piper Sandler dropped their price target 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 cut their price target on Wolverine World Wide from $21.00 to $18.00 and set a “neutral” rating for the company in a report on Thursday, February 20th. Finally, UBS Group lowered their price objective on shares of Wolverine World Wide from $29.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.25.

About Wolverine World Wide

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.