The Manufacturers Life Insurance Company Has $831,000 Holdings in Wolverine World Wide, Inc. (NYSE:WWW)

The Manufacturers Life Insurance Company cut its stake in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,411 shares of the textile maker’s stock after selling 1,096 shares during the period. The Manufacturers Life Insurance Company’s holdings in Wolverine World Wide were worth $831,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of WWW. Pacer Advisors Inc. acquired a new position in shares of Wolverine World Wide during the fourth quarter worth $64,943,000. JPMorgan Chase & Co. increased its holdings in shares of Wolverine World Wide by 70.0% during the fourth quarter. JPMorgan Chase & Co. now owns 2,425,858 shares of the textile maker’s stock worth $53,854,000 after buying an additional 998,916 shares in the last quarter. Capital Research Global Investors acquired a new position in shares of Wolverine World Wide during the fourth quarter worth $13,943,000. First Trust Advisors LP acquired a new position in shares of Wolverine World Wide during the fourth quarter worth $7,862,000. Finally, FMR LLC grew its stake in shares of Wolverine World Wide by 2.2% in the fourth quarter. FMR LLC now owns 11,766,527 shares of the textile maker’s stock worth $261,217,000 after purchasing an additional 249,456 shares during the last quarter. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. UBS Group boosted their price objective on shares of Wolverine World Wide from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. Telsey Advisory Group reissued a “market perform” rating and issued a $17.00 price objective on shares of Wolverine World Wide in a research note on Friday, May 9th. Baird R W raised shares of Wolverine World Wide from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 21st. Piper Sandler reduced their price objective on shares of Wolverine World Wide from $27.00 to $18.00 and set an “overweight” rating on the stock in a research note on Friday, April 11th. Finally, Robert W. Baird boosted their price objective on shares of Wolverine World Wide from $15.00 to $20.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 6th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $19.71.

Wolverine World Wide Stock Performance

Shares of WWW opened at $16.53 on Thursday. The company has a current ratio of 1.29, a quick ratio of 0.77 and a debt-to-equity ratio of 1.79. The stock has a market capitalization of $1.34 billion, a P/E ratio of 30.05 and a beta of 1.62. The firm’s fifty day simple moving average is $13.16 and its two-hundred day simple moving average is $18.15. Wolverine World Wide, Inc. has a 12 month low of $9.58 and a 12 month high of $24.64.

Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings results on Thursday, May 8th. The textile maker reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.07. The business had revenue of $412.30 million for the quarter, compared to analysts’ expectations of $395.94 million. Wolverine World Wide had a net margin of 2.73% and a return on equity of 26.81%. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.11 earnings per share. As a group, analysts predict that Wolverine World Wide, Inc. will post 1.23 EPS for the current year.

Wolverine World Wide Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Tuesday, July 1st will be issued a dividend of $0.10 per share. The ex-dividend date is Tuesday, July 1st. This represents a $0.40 annualized dividend and a dividend yield of 2.42%. Wolverine World Wide’s dividend payout ratio is currently 45.98%.

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.