Mackenzie Financial Corp Has $725,000 Stake in Wolverine World Wide, Inc. (NYSE:WWW)

Mackenzie Financial Corp raised its stake in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 28.4% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 52,140 shares of the textile maker’s stock after purchasing an additional 11,524 shares during the period. Mackenzie Financial Corp owned approximately 0.06% of Wolverine World Wide worth $725,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in WWW. Summit Investment Advisors Inc. raised its holdings in shares of Wolverine World Wide by 7.5% in the 4th quarter. Summit Investment Advisors Inc. now owns 8,305 shares of the textile maker’s stock worth $184,000 after purchasing an additional 581 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Wolverine World Wide by 3.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,159 shares of the textile maker’s stock valued at $1,003,000 after acquiring an additional 1,495 shares during the period. Captrust Financial Advisors raised its holdings in Wolverine World Wide by 6.6% during the 4th quarter. Captrust Financial Advisors now owns 26,834 shares of the textile maker’s stock valued at $596,000 after acquiring an additional 1,667 shares during the period. Rhumbline Advisers raised its holdings in Wolverine World Wide by 0.8% during the 1st quarter. Rhumbline Advisers now owns 226,441 shares of the textile maker’s stock valued at $3,150,000 after acquiring an additional 1,852 shares during the period. Finally, Natixis purchased a new position in shares of Wolverine World Wide during the 4th quarter valued at $41,000. Institutional investors and hedge funds own 90.25% of the company’s stock.

Wolverine World Wide Price Performance

Shares of NYSE WWW opened at $26.92 on Thursday. Wolverine World Wide, Inc. has a fifty-two week low of $9.58 and a fifty-two week high of $27.36. The company has a 50 day simple moving average of $19.45 and a two-hundred day simple moving average of $16.99. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of 30.94 and a beta of 1.74. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.77 and a current ratio of 1.26.

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 analysts’ consensus estimates of $0.11 by $0.07. Wolverine World Wide had a net margin of 4.15% and a return on equity of 28.74%. The firm had revenue of $412.30 million for the quarter, compared to analysts’ expectations of $395.94 million. During the same quarter in the prior year, the company posted $0.11 earnings per share. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. Analysts expect that Wolverine World Wide, Inc. will post 1.23 EPS for the current fiscal year.

Wolverine World Wide Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Wednesday, October 1st will be issued a $0.10 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $0.40 annualized dividend and a yield of 1.5%. Wolverine World Wide’s dividend payout ratio (DPR) is currently 45.98%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on WWW shares. Argus upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research report on Friday, May 16th. Piper Sandler restated an “overweight” rating and set a $25.00 price target (up from $20.00) on shares of Wolverine World Wide in a research report on Tuesday. Baird R W upgraded shares of Wolverine World Wide from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 21st. Stifel Nicolaus lowered their price objective on shares of Wolverine World Wide from $27.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Finally, Robert W. Baird increased their price target on shares of Wolverine World Wide from $15.00 to $20.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 6th. Two investment 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 MarketBeat, Wolverine World Wide presently has an average rating of “Moderate Buy” and an average price target of $21.63.

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.