Envestnet Asset Management Inc. Raises Stock Position in Wolverine World Wide, Inc. (NYSE:WWW)

Envestnet Asset Management Inc. increased its holdings in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 7.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 335,666 shares of the textile maker’s stock after acquiring an additional 24,596 shares during the period. Envestnet Asset Management Inc.’s holdings in Wolverine World Wide were worth $7,452,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WWW. SBI Securities Co. Ltd. bought a new position in shares of Wolverine World Wide during the 4th quarter valued at about $25,000. Signaturefd LLC raised its holdings in shares of Wolverine World Wide by 88.8% during the 4th quarter. Signaturefd LLC now owns 1,450 shares of the textile maker’s stock worth $32,000 after acquiring an additional 682 shares in the last quarter. KBC Group NV boosted its position in shares of Wolverine World Wide by 43.8% during the 4th quarter. KBC Group NV now owns 4,303 shares of the textile maker’s stock valued at $96,000 after acquiring an additional 1,311 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Wolverine World Wide by 12.5% in the fourth quarter. GAMMA Investing LLC now owns 5,057 shares of the textile maker’s stock valued at $112,000 after purchasing an additional 563 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its position in Wolverine World Wide by 375.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 5,552 shares of the textile maker’s stock worth $122,000 after purchasing an additional 4,384 shares during the last quarter. Institutional investors own 90.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on WWW shares. UBS Group dropped their price objective on shares of Wolverine World Wide from $29.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Robert W. Baird lowered their price objective on Wolverine World Wide from $21.00 to $18.00 and set a “neutral” rating for the company in a research note on Thursday, February 20th. Piper Sandler cut their target price on Wolverine World Wide from $27.00 to $18.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. Stifel Nicolaus dropped 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, Telsey Advisory Group reiterated a “market perform” rating and set a $23.00 price objective on shares of Wolverine World Wide in a research report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Wolverine World Wide presently has an average rating of “Moderate Buy” and a consensus target price of $20.25.

Wolverine World Wide Stock Up 2.5 %

NYSE:WWW opened at $10.80 on Monday. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.29 and a quick ratio of 0.77. The firm has a market cap of $875.42 million, a PE ratio of 19.64 and a beta of 1.74. The company has a 50-day moving average of $13.80 and a 200 day moving average of $18.48. 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 issued its quarterly earnings data on Wednesday, February 19th. The textile maker reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. The company had revenue of $494.70 million for the quarter, compared to analyst estimates of $485.74 million. Wolverine World Wide had a net margin of 2.73% and a return on equity of 26.81%. Wolverine World Wide’s revenue was down 6.1% compared to the same quarter last year. During the same period last year, the company posted ($0.30) earnings per share. As a group, research analysts anticipate 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 Thursday, May 1st. Shareholders of record on Tuesday, April 1st will be paid a $0.10 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $0.40 annualized dividend and a yield of 3.70%. Wolverine World Wide’s dividend payout ratio (DPR) is presently 72.73%.

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. 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.