Wolverine World Wide, Inc. (NYSE:WWW) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC grew its holdings in Wolverine World Wide, Inc. (NYSE:WWW) by 1,380.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,850 shares of the textile maker’s stock after purchasing an additional 69,793 shares during the quarter. GAMMA Investing LLC owned about 0.09% of Wolverine World Wide worth $1,041,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new stake in shares of Wolverine World Wide during the 4th quarter valued at approximately $25,000. Signaturefd LLC grew its stake in shares of Wolverine World Wide by 88.8% in the fourth quarter. Signaturefd LLC now owns 1,450 shares of the textile maker’s stock worth $32,000 after acquiring an additional 682 shares in the last quarter. Natixis acquired a new position in shares of Wolverine World Wide during the fourth quarter worth $41,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Wolverine World Wide during the fourth quarter worth $64,000. Finally, Smartleaf Asset Management LLC boosted its stake in Wolverine World Wide by 375.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 5,552 shares of the textile maker’s stock valued at $122,000 after acquiring an additional 4,384 shares in the last quarter. 90.25% of the stock is owned by hedge funds and other institutional investors.

Wolverine World Wide Price Performance

WWW opened at $17.89 on Tuesday. The company has a 50-day moving average of $15.03 and a 200-day moving average of $17.63. The company has a market capitalization of $1.45 billion, a P/E ratio of 32.52 and a beta of 1.71. Wolverine World Wide, Inc. has a 1-year low of $9.58 and a 1-year high of $24.64. 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 (NYSE:WWW) last posted its quarterly earnings results on Thursday, May 8th. The textile maker reported $0.18 EPS for the quarter, beating the consensus estimate of $0.11 by $0.07. Wolverine World Wide had a net margin of 2.73% and a return on equity of 26.81%. The business had revenue of $412.30 million during the quarter, compared to analyst estimates of $395.94 million. During the same period in the previous year, the business posted $0.11 EPS. The company’s quarterly revenue was up 4.4% on a year-over-year basis. Equities analysts expect that Wolverine World Wide, Inc. will post 1.23 EPS for the current fiscal year.

Wolverine World Wide Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Tuesday, July 1st will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Tuesday, July 1st. Wolverine World Wide’s dividend payout ratio (DPR) is presently 45.98%.

Analysts Set New Price Targets

Several brokerages recently issued reports on WWW. UBS Group boosted their price target on Wolverine World Wide from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Robert W. Baird increased their price target on shares of Wolverine World Wide from $15.00 to $20.00 and gave the company an “outperform” rating in a research report on Tuesday, May 6th. Piper Sandler decreased 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 research report on Friday, April 11th. Telsey Advisory Group reiterated a “market perform” rating and issued a $17.00 price target on shares of Wolverine World Wide in a report on Friday, May 9th. Finally, 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. 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 stock. According to data from MarketBeat, Wolverine World Wide presently has an average rating of “Moderate Buy” and a consensus price target of $19.75.

About Wolverine World Wide

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.