Wealth Enhancement Advisory Services LLC Acquires Shares of 9,191 Wolverine World Wide, Inc. (NYSE:WWW)

Wealth Enhancement Advisory Services LLC acquired a new stake in Wolverine World Wide, Inc. (NYSE:WWW) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 9,191 shares of the textile maker’s stock, valued at approximately $204,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in Wolverine World Wide by 70.0% in the fourth quarter. JPMorgan Chase & Co. now owns 2,425,858 shares of the textile maker’s stock valued at $53,854,000 after purchasing an additional 998,916 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Wolverine World Wide by 5.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,670,760 shares of the textile maker’s stock valued at $37,091,000 after buying an additional 86,475 shares during the period. Savant Capital LLC purchased a new position in shares of Wolverine World Wide during the fourth quarter valued at approximately $205,000. Nuveen Asset Management LLC increased its stake in shares of Wolverine World Wide by 179.1% during the fourth quarter. Nuveen Asset Management LLC now owns 628,338 shares of the textile maker’s stock valued at $13,949,000 after buying an additional 403,176 shares during the period. Finally, Amundi increased its stake in shares of Wolverine World Wide by 161.5% during the fourth quarter. Amundi now owns 47,074 shares of the textile maker’s stock valued at $1,067,000 after buying an additional 29,072 shares during the period. Institutional investors own 90.25% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on WWW. Telsey Advisory Group reissued a “market perform” rating and set a $17.00 target price on shares of Wolverine World Wide in a research note on Friday, May 9th. Argus raised Wolverine World Wide from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Friday, May 16th. Piper Sandler reduced their target price 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. Robert W. Baird upped their price target on Wolverine World Wide from $15.00 to $20.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 6th. Finally, Stifel Nicolaus reduced their price target on Wolverine World Wide from $27.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Two equities 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 company presently has a consensus rating of “Moderate Buy” and an average target price of $19.75.

Wolverine World Wide Trading Down 2.5%

NYSE WWW opened at $17.43 on Wednesday. Wolverine World Wide, Inc. has a 12 month low of $9.58 and a 12 month high of $24.64. The stock has a market cap of $1.41 billion, a P/E ratio of 20.03 and a beta of 1.71. The stock’s fifty day moving average price is $15.13 and its 200-day moving average price is $17.63. The company has a current ratio of 1.26, a quick ratio of 0.77 and a debt-to-equity ratio of 1.76.

Wolverine World Wide (NYSE:WWW) last released its earnings results on Thursday, May 8th. The textile maker reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.07. Wolverine World Wide had a return on equity of 28.74% and a net margin of 4.15%. The firm had revenue of $412.30 million for the quarter, compared to analysts’ expectations of $395.94 million. During the same period in the prior year, the firm posted $0.11 earnings per share. The company’s quarterly revenue was up 4.4% on a year-over-year basis. As a group, equities analysts forecast 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 dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date is Tuesday, July 1st. Wolverine World Wide’s 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.