Point72 Asia Singapore Pte. Ltd. Acquires Shares of 2,866 Wolverine World Wide, Inc. (NYSE:WWW)

Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Wolverine World Wide, Inc. (NYSE:WWW) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,866 shares of the textile maker’s stock, valued at approximately $64,000.

Several other large investors also recently modified their holdings of the business. JPMorgan Chase & Co. raised its position in Wolverine World Wide by 70.0% during the 4th quarter. JPMorgan Chase & Co. now owns 2,425,858 shares of the textile maker’s stock valued at $53,854,000 after purchasing an additional 998,916 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Wolverine World Wide by 5.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,670,760 shares of the textile maker’s stock valued at $37,091,000 after buying an additional 86,475 shares during the period. Savant Capital LLC bought a new position in shares of Wolverine World Wide during the fourth quarter valued at approximately $205,000. Pacer Advisors Inc. purchased a new stake in Wolverine World Wide in the fourth quarter worth $64,943,000. Finally, Amundi lifted its stake in Wolverine World Wide by 161.5% in the fourth quarter. Amundi now owns 47,074 shares of the textile maker’s stock worth $1,067,000 after acquiring an additional 29,072 shares during the period. 90.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. StockNews.com downgraded shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. UBS Group boosted their price target on shares of Wolverine World Wide from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Telsey Advisory Group reissued a “market perform” rating and issued a $17.00 price target on shares of Wolverine World Wide in a research note on Friday, May 9th. Stifel Nicolaus cut their price objective on Wolverine World Wide from $27.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Finally, Baird R W raised Wolverine World Wide from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 21st. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Wolverine World Wide has a consensus rating of “Moderate Buy” and an average price target of $19.75.

Wolverine World Wide Trading Up 4.5%

Wolverine World Wide stock opened at $17.18 on Monday. Wolverine World Wide, Inc. has a 12 month low of $9.58 and a 12 month high of $24.64. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of 31.23 and a beta of 1.62. The business’s fifty day simple moving average is $13.28 and its two-hundred day simple moving average is $18.20. The company has a current ratio of 1.29, a quick ratio of 0.77 and a debt-to-equity ratio of 1.79.

Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings results on Thursday, May 8th. The textile maker reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.07. Wolverine World Wide had a return on equity of 26.81% and a net margin of 2.73%. The firm had revenue of $412.30 million during the quarter, compared to analyst estimates of $395.94 million. During the same quarter in the previous year, the firm earned $0.11 EPS. Wolverine World Wide’s quarterly revenue was up 4.4% compared to the same quarter last year. As a group, equities analysts predict that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current fiscal year.

Wolverine World Wide Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Tuesday, July 1st will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date is Tuesday, July 1st. Wolverine World Wide’s payout ratio is 45.98%.

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.