Invesco Ltd. Buys 252,331 Shares of Wolverine World Wide, Inc. $WWW

Invesco Ltd. boosted its stake in Wolverine World Wide, Inc. (NYSE:WWW) by 36.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 951,235 shares of the textile maker’s stock after acquiring an additional 252,331 shares during the period. Invesco Ltd. owned 1.17% of Wolverine World Wide worth $13,232,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in WWW. WCM Investment Management LLC bought a new stake in Wolverine World Wide in the first quarter valued at approximately $7,164,000. Nuveen Asset Management LLC increased its holdings in Wolverine World Wide by 179.1% in the fourth 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. First Trust Advisors LP bought a new stake in Wolverine World Wide in the fourth quarter worth approximately $7,862,000. Driehaus Capital Management LLC increased its holdings in Wolverine World Wide by 135.5% in the fourth quarter. Driehaus Capital Management LLC now owns 593,693 shares of the textile maker’s stock worth $13,180,000 after purchasing an additional 341,601 shares in the last quarter. Finally, Manning & Napier Advisors LLC increased its holdings in Wolverine World Wide by 64.6% in the first quarter. Manning & Napier Advisors LLC now owns 800,000 shares of the textile maker’s stock worth $11,128,000 after purchasing an additional 313,997 shares in the last quarter. 90.25% of the stock is currently owned by institutional investors.

Wolverine World Wide Stock Up 6.4%

Shares of NYSE:WWW opened at $30.72 on Friday. The business’s 50 day simple moving average is $22.21 and its two-hundred day simple moving average is $17.51. The firm has a market cap of $2.50 billion, a P/E ratio of 30.12 and a beta of 1.74. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.75 and a current ratio of 1.24. Wolverine World Wide, Inc. has a 52-week low of $9.58 and a 52-week high of $30.78.

Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings results on Wednesday, August 6th. The textile maker reported $0.35 earnings per share (EPS) for the quarter, topping 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 quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.15 earnings per share. As a group, research analysts forecast that Wolverine World Wide, Inc. will post 1.23 EPS for the current fiscal year.

Wolverine World Wide Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Wednesday, October 1st will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, October 1st. Wolverine World Wide’s payout ratio is currently 39.22%.

Analyst Upgrades and Downgrades

WWW has been the subject of a number of research analyst reports. Telsey Advisory Group reiterated a “market perform” rating and issued a $29.00 target price (up from $17.00) on shares of Wolverine World Wide in a report on Wednesday, August 6th. Piper Sandler reiterated an “overweight” rating and issued a $25.00 target price (up from $20.00) on shares of Wolverine World Wide in a report on Tuesday, August 5th. Robert W. Baird lifted their target price on Wolverine World Wide from $15.00 to $20.00 and gave the stock an “outperform” rating in a report on Tuesday, May 6th. Wall Street Zen upgraded Wolverine World Wide from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Finally, UBS Group lifted their target price on Wolverine World Wide from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $25.38.

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.