Jupiter Asset Management Ltd. Purchases Shares of 247,280 Wolverine World Wide, Inc. (NYSE:WWW)

Jupiter Asset Management Ltd. purchased a new stake in shares of Wolverine World Wide, Inc. (NYSE:WWW) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 247,280 shares of the textile maker’s stock, valued at approximately $3,440,000. Jupiter Asset Management Ltd. owned about 0.31% of Wolverine World Wide as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in WWW. Blueshift Asset Management LLC acquired a new position in shares of Wolverine World Wide in the 1st quarter valued at about $419,000. Bayforest Capital Ltd acquired a new position in shares of Wolverine World Wide in the 1st quarter valued at about $290,000. GSA Capital Partners LLP acquired a new position in shares of Wolverine World Wide in the 1st quarter valued at about $1,689,000. Federated Hermes Inc. lifted its holdings in shares of Wolverine World Wide by 6.1% in the 1st quarter. Federated Hermes Inc. now owns 762,458 shares of the textile maker’s stock valued at $10,606,000 after buying an additional 43,891 shares during the period. Finally, Mackenzie Financial Corp lifted its holdings in shares of Wolverine World Wide by 28.4% in the 1st quarter. Mackenzie Financial Corp now owns 52,140 shares of the textile maker’s stock valued at $725,000 after buying an additional 11,524 shares during the period. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Wolverine World Wide Stock Down 2.0%

Shares of NYSE WWW opened at $22.13 on Monday. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of 25.44 and a beta of 1.74. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.26 and a quick ratio of 0.77. The business has a 50-day moving average of $19.19 and a two-hundred day moving average of $16.94. 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 posted 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. The business had revenue of $412.30 million for the quarter, compared to analysts’ expectations of $395.94 million. Wolverine World Wide had a return on equity of 28.74% and a net margin of 4.15%. The business’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.11 earnings per share. On average, analysts forecast that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current fiscal year.

Wolverine World Wide Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Wednesday, October 1st will be given a dividend of $0.10 per share. The ex-dividend date is Wednesday, October 1st. This represents a $0.40 annualized dividend and a yield of 1.8%. Wolverine World Wide’s payout ratio is presently 45.98%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Telsey Advisory Group reissued a “market perform” rating and issued a $17.00 price objective on shares of Wolverine World Wide in a report on Wednesday, July 30th. Stifel Nicolaus decreased their price objective on Wolverine World Wide from $27.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Piper Sandler decreased 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. Baird R W raised Wolverine World Wide from a “hold” rating to a “strong-buy” rating in a report on Monday, April 21st. Finally, Argus raised Wolverine World Wide from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Friday, May 16th. Two equities research analysts have rated the stock with a hold rating, seven have given 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 an average rating of “Moderate Buy” and an average target price of $20.75.

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.