Bank of America Corp DE Reduces Stock Holdings in Wolverine World Wide, Inc. (NYSE:WWW)

Bank of America Corp DE decreased its stake in Wolverine World Wide, Inc. (NYSE:WWW) by 34.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 922,127 shares of the textile maker’s stock after selling 491,588 shares during the quarter. Bank of America Corp DE owned about 1.15% of Wolverine World Wide worth $20,471,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of WWW. Barclays PLC boosted its holdings in shares of Wolverine World Wide by 767.1% in the 3rd 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 period. Sheets Smith Wealth Management purchased a new position in shares of Wolverine World Wide in the 4th quarter worth approximately $273,000. KBC Group NV boosted its holdings in shares of Wolverine World Wide by 43.8% in the 4th quarter. KBC Group NV now owns 4,303 shares of the textile maker’s stock worth $96,000 after purchasing an additional 1,311 shares during the period. Pacer Advisors Inc. purchased a new position in shares of Wolverine World Wide in the 4th quarter worth approximately $64,943,000. Finally, Savant Capital LLC purchased a new position in shares of Wolverine World Wide in the 4th quarter worth approximately $205,000. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Wolverine World Wide Stock Down 0.4%

Shares of WWW stock opened at $17.05 on Tuesday. The stock’s 50-day simple moving average is $13.35 and its 200-day simple moving average is $18.21. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.77 and a current ratio of 1.29. The firm has a market capitalization of $1.38 billion, a PE ratio of 31.00 and a beta of 1.62. Wolverine World Wide, Inc. has a fifty-two week low of $9.58 and a fifty-two week high of $24.64.

Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings data on Thursday, May 8th. The textile maker reported $0.18 earnings per share 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 analyst estimates of $395.94 million. Wolverine World Wide had a return on equity of 26.81% and a net margin of 2.73%. The company’s revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.11 earnings per share. Equities analysts expect that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current year.

Wolverine World Wide Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Tuesday, July 1st will be paid a $0.10 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.35%. Wolverine World Wide’s payout ratio is 45.98%.

Analysts Set New Price Targets

A number of research firms recently issued reports on WWW. Argus upgraded Wolverine World Wide from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Friday. Robert W. Baird boosted their price objective on Wolverine World Wide from $15.00 to $20.00 and gave the company an “outperform” rating in a report on Tuesday, May 6th. StockNews.com cut Wolverine World Wide from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th. Piper Sandler dropped their price objective on Wolverine World Wide from $27.00 to $18.00 and set an “overweight” rating for the company in a report on Friday, April 11th. Finally, UBS Group boosted their price objective on Wolverine World Wide from $18.00 to $22.00 and gave the company a “buy” rating in a report on Friday, May 9th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $19.75.

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.