Cerity Partners LLC Has $297,000 Stock Holdings in Wolverine World Wide, Inc. (NYSE:WWW)

Cerity Partners LLC reduced its stake in Wolverine World Wide, Inc. (NYSE:WWW) by 19.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,382 shares of the textile maker’s stock after selling 3,217 shares during the period. Cerity Partners LLC’s holdings in Wolverine World Wide were worth $297,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of WWW. FMR LLC grew its stake in Wolverine World Wide by 2.2% in 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 last quarter. Federated Hermes Inc. increased its stake in shares of Wolverine World Wide by 32.4% during the fourth quarter. Federated Hermes Inc. now owns 718,567 shares of the textile maker’s stock worth $15,952,000 after purchasing an additional 175,969 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Wolverine World Wide by 28.3% during the fourth quarter. Russell Investments Group Ltd. now owns 128,631 shares of the textile maker’s stock worth $2,856,000 after purchasing an additional 28,372 shares during the period. Envestnet Asset Management Inc. lifted its holdings in Wolverine World Wide by 7.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 335,666 shares of the textile maker’s stock worth $7,452,000 after purchasing an additional 24,596 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Wolverine World Wide in the 4th quarter valued at $225,000. 90.25% of the stock is owned by institutional investors.

Wolverine World Wide Price Performance

Wolverine World Wide stock opened at $12.36 on Thursday. 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 $9.58 and a 52 week high of $24.64. The stock has a market capitalization of $1.00 billion, a P/E ratio of 22.47 and a beta of 1.74. The stock has a fifty day moving average of $13.41 and a 200-day moving average of $18.36.

Wolverine World Wide (NYSE:WWW) last posted its earnings results on Wednesday, February 19th. The textile maker reported $0.42 EPS for the quarter, hitting analysts’ consensus estimates of $0.42. The firm had revenue of $494.70 million during the quarter, compared to analysts’ expectations of $485.74 million. Wolverine World Wide had a net margin of 2.73% and a return on equity of 26.81%. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.30) earnings per share. 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.10 per share. The ex-dividend date is Tuesday, April 1st. This represents a $0.40 annualized dividend and a dividend yield of 3.24%. Wolverine World Wide’s dividend payout ratio (DPR) is presently 72.73%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on WWW. Baird R W raised Wolverine World Wide from a “hold” rating to a “strong-buy” rating in a report on Monday. StockNews.com downgraded shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th. Piper Sandler lowered their target price on shares of Wolverine World Wide from $27.00 to $18.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. UBS Group boosted their price target on Wolverine World Wide from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Stifel Nicolaus dropped 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. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Wolverine World Wide currently has an average rating of “Moderate Buy” and an average price target 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.