Nuveen Asset Management LLC Buys 403,176 Shares of Wolverine World Wide, Inc. (NYSE:WWW)

Nuveen Asset Management LLC lifted its stake in Wolverine World Wide, Inc. (NYSE:WWW) by 179.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 628,338 shares of the textile maker’s stock after purchasing an additional 403,176 shares during the period. Nuveen Asset Management LLC owned 0.78% of Wolverine World Wide worth $13,949,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in WWW. OMERS ADMINISTRATION Corp bought a new position in Wolverine World Wide during the fourth quarter worth about $320,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Wolverine World Wide by 3.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,159 shares of the textile maker’s stock worth $1,003,000 after acquiring an additional 1,495 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in Wolverine World Wide by 40.6% during the fourth quarter. Lazard Asset Management LLC now owns 44,815 shares of the textile maker’s stock worth $994,000 after acquiring an additional 12,943 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in Wolverine World Wide by 11.4% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,107,721 shares of the textile maker’s stock worth $24,591,000 after acquiring an additional 113,238 shares in the last quarter. Finally, Gotham Asset Management LLC bought a new position in Wolverine World Wide during the fourth quarter worth about $2,258,000. 90.25% of the stock is currently owned by institutional investors.

Wolverine World Wide Stock Performance

WWW opened at $16.36 on Monday. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.29 and a quick ratio of 0.77. The business’s 50-day moving average price is $13.62 and its two-hundred day moving average price is $18.20. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 29.75 and a beta of 1.62. Wolverine World Wide, Inc. has a 1 year low of $9.58 and a 1 year high of $24.64.

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

Wolverine World Wide Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Tuesday, July 1st will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date is Tuesday, July 1st. Wolverine World Wide’s dividend payout ratio is currently 45.98%.

Wall Street Analysts Forecast Growth

WWW has been the topic of several recent analyst reports. Wall Street Zen lowered Wolverine World Wide from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th. Telsey Advisory Group reiterated a “market perform” rating and set a $17.00 target price on shares of Wolverine World Wide in a report on Friday, May 9th. Argus upgraded Wolverine World Wide from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Friday, May 16th. 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 note on Friday, April 11th. Finally, UBS Group lifted their price target on Wolverine World Wide from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, May 9th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, 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.