State of New Jersey Common Pension Fund D increased its holdings in Wolverine World Wide, Inc. (NYSE:WWW – Get Rating) by 19.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 100,325 shares of the textile maker’s stock after buying an additional 16,108 shares during the period. State of New Jersey Common Pension Fund D owned 0.12% of Wolverine World Wide worth $2,263,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Signaturefd LLC raised its position in shares of Wolverine World Wide by 3,394.7% in the first quarter. Signaturefd LLC now owns 1,328 shares of the textile maker’s stock valued at $30,000 after buying an additional 1,290 shares in the last quarter. Cornerstone Advisory LLC acquired a new stake in shares of Wolverine World Wide in the fourth quarter valued at approximately $62,000. US Asset Management LLC acquired a new position in Wolverine World Wide during the first quarter valued at approximately $52,000. Alpha Paradigm Partners LLC acquired a new position in Wolverine World Wide during the fourth quarter valued at approximately $74,000. Finally, Bridgefront Capital LLC acquired a new position in Wolverine World Wide during the fourth quarter valued at approximately $220,000. 93.90% of the stock is currently owned by institutional investors and hedge funds.
Wolverine World Wide Stock Performance
Shares of Wolverine World Wide stock opened at $22.93 on Thursday. The company has a quick ratio of 0.61, a current ratio of 1.11 and a debt-to-equity ratio of 1.19. Wolverine World Wide, Inc. has a twelve month low of $16.65 and a twelve month high of $38.07. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of 48.79 and a beta of 1.67. The company’s fifty day moving average is $21.17 and its 200 day moving average is $22.31.
Analyst Upgrades and Downgrades
Several research analysts have commented on the stock. William Blair downgraded shares of Wolverine World Wide to a “hold” rating and set a $24.00 price objective for the company. in a research report on Monday, July 25th. Stifel Nicolaus downgraded shares of Wolverine World Wide from a “buy” rating to a “hold” rating and lowered their price objective for the company from $26.00 to $23.00 in a research report on Wednesday, July 20th. CL King lowered their price objective on shares of Wolverine World Wide from $42.00 to $29.00 in a research report on Thursday, May 12th. Piper Sandler reiterated an “overweight” rating and set a $30.00 price target on shares of Wolverine World Wide in a report on Tuesday, July 26th. Finally, Williams Capital reiterated a “downgrade” rating on shares of Wolverine World Wide in a report on Monday, July 25th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Wolverine World Wide has an average rating of “Hold” and an average target price of $31.80.
Wolverine World Wide 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. The company operates through two segments, Wolverine Michigan Group and Wolverine Boston Group.
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