Cetera Investment Advisers Makes New Investment in Wolverine World Wide, Inc. $WWW

Cetera Investment Advisers bought a new position in shares of Wolverine World Wide, Inc. (NYSE:WWW) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 16,710 shares of the textile maker’s stock, valued at approximately $232,000.

Other institutional investors have also bought and sold shares of the company. Cambridge Investment Research Advisors Inc. purchased a new position in Wolverine World Wide in the 1st quarter worth about $608,000. Illinois Municipal Retirement Fund boosted its stake in Wolverine World Wide by 8.4% in the 1st quarter. Illinois Municipal Retirement Fund now owns 44,317 shares of the textile maker’s stock worth $616,000 after purchasing an additional 3,441 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in Wolverine World Wide by 179.1% in the 4th quarter. Nuveen Asset Management LLC now owns 628,338 shares of the textile maker’s stock worth $13,949,000 after purchasing an additional 403,176 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in Wolverine World Wide during the 4th quarter worth approximately $204,000. Finally, Manning & Napier Advisors LLC lifted its stake in shares of Wolverine World Wide by 64.6% in the 1st quarter. Manning & Napier Advisors LLC now owns 800,000 shares of the textile maker’s stock valued at $11,128,000 after purchasing an additional 313,997 shares during the period. Institutional investors own 90.25% of the company’s stock.

Wolverine World Wide Stock Up 0.6%

Shares of NYSE:WWW opened at $28.7950 on Friday. The stock’s 50-day moving average price is $21.94 and its two-hundred day moving average price is $17.45. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 1.58. Wolverine World Wide, Inc. has a 12-month low of $9.58 and a 12-month high of $28.97. The firm has a market cap of $2.34 billion, a price-to-earnings ratio of 28.23 and a beta of 1.74.

Wolverine World Wide (NYSE:WWW) last released its quarterly earnings data on Wednesday, August 6th. The textile maker reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.12. The business had revenue of $474.20 million for the quarter, compared to analyst estimates of $447.82 million. Wolverine World Wide had a return on equity of 31.99% and a net margin of 4.73%.The company’s revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.15 EPS. On average, research analysts forecast that Wolverine World Wide, Inc. will post 1.23 EPS for the current year.

Wolverine World Wide Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors 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 dividend on an annualized basis and a yield of 1.4%. Wolverine World Wide’s payout ratio is currently 39.22%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on WWW shares. Wall Street Zen raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. KeyCorp reaffirmed an “overweight” rating and issued a $32.00 target price (up previously from $25.00) on shares of Wolverine World Wide in a research report on Thursday, August 7th. UBS Group upped their target price on shares of Wolverine World Wide from $30.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. Argus upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Friday, May 16th. Finally, Robert W. Baird increased their price objective on Wolverine World Wide from $15.00 to $20.00 and gave the company an “outperform” rating in a report on Tuesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $25.38.

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.