Bank of Montreal Can Raises Stake in Wolverine World Wide, Inc. (NYSE:WWW)

Bank of Montreal Can grew its position in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 19.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,526 shares of the textile maker’s stock after purchasing an additional 2,396 shares during the period. Bank of Montreal Can’s holdings in Wolverine World Wide were worth $322,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. bought a new position in shares of Wolverine World Wide in the 4th quarter worth $64,943,000. JPMorgan Chase & Co. increased its stake in Wolverine World Wide by 1,263.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,426,942 shares of the textile maker’s stock worth $24,857,000 after purchasing an additional 1,322,254 shares during the period. FMR LLC boosted its position in Wolverine World Wide by 2.2% during the 4th quarter. FMR LLC now owns 11,766,527 shares of the textile maker’s stock valued at $261,217,000 after buying an additional 249,456 shares during the period. Barclays PLC grew its stake in shares of Wolverine World Wide by 767.1% in the third quarter. Barclays PLC now owns 250,830 shares of the textile maker’s stock worth $4,368,000 after purchasing an additional 221,904 shares during the last quarter. Finally, Hillsdale Investment Management Inc. bought a new stake in shares of Wolverine World Wide in the 4th quarter worth approximately $4,317,000. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

Wolverine World Wide Price Performance

Shares of Wolverine World Wide stock opened at $12.36 on Thursday. The stock’s 50-day simple moving average is $13.41 and its 200-day simple moving average is $18.36. The company has a market capitalization of $1.00 billion, a price-to-earnings ratio of 22.47 and a beta of 1.74. Wolverine World Wide, Inc. has a 52 week low of $9.58 and a 52 week 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.

Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings results on Wednesday, February 19th. The textile maker reported $0.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.42. Wolverine World Wide had a net margin of 2.73% and a return on equity of 26.81%. The company had revenue of $494.70 million for the quarter, compared to the consensus estimate of $485.74 million. During the same period in the previous year, the firm posted ($0.30) EPS. Wolverine World Wide’s revenue for the quarter was down 6.1% compared to the same quarter last year. As a group, analysts expect that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current fiscal year.

Wolverine World Wide Announces Dividend

The firm also recently declared 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. This represents a $0.40 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date is Tuesday, April 1st. Wolverine World Wide’s payout ratio is 72.73%.

Analyst Ratings Changes

Several brokerages recently issued reports on WWW. Telsey Advisory Group reiterated a “market perform” rating and set a $23.00 price target on shares of Wolverine World Wide in a research report on Wednesday, February 19th. StockNews.com lowered Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. UBS Group increased their price target on shares of Wolverine World Wide from $17.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday. Stifel Nicolaus reduced their target price 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, Robert W. Baird upgraded Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $15.00 price objective for the company in a report on Monday. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Wolverine World Wide currently has an average rating of “Moderate Buy” and a consensus target price 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.