Point72 Asset Management L.P. Buys New Stake in Wolverine World Wide, Inc. (NYSE:WWW)

Point72 Asset Management L.P. purchased a new stake in shares of Wolverine World Wide, Inc. (NYSE:WWW) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 235,391 shares of the textile maker’s stock, valued at approximately $5,226,000. Point72 Asset Management L.P. owned 0.29% of Wolverine World Wide as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of WWW. Pacer Advisors Inc. acquired a new position in shares of Wolverine World Wide during the 4th quarter valued at $64,943,000. JPMorgan Chase & Co. increased its position in shares of 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 period. Capital Research Global Investors acquired a new position in shares of Wolverine World Wide during the 4th quarter valued at $13,943,000. Nuveen Asset Management LLC increased its position in shares of Wolverine World Wide by 179.1% during the 4th quarter. Nuveen Asset Management LLC now owns 628,338 shares of the textile maker’s stock valued at $13,949,000 after purchasing an additional 403,176 shares during the period. Finally, First Trust Advisors LP acquired a new position in shares of Wolverine World Wide during the 4th quarter valued at $7,862,000. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on WWW. Baird R W upgraded Wolverine World Wide from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 21st. Piper Sandler lowered their price target 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. UBS Group lifted their target price on Wolverine World Wide from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, May 9th. StockNews.com cut Wolverine World Wide from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th. Finally, Argus upgraded Wolverine World Wide from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Friday. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.75.

Wolverine World Wide Stock Performance

Shares of Wolverine World Wide stock opened at $17.05 on Tuesday. The stock has a market cap of $1.38 billion, a PE ratio of 31.00 and a beta of 1.62. The business has a fifty day simple moving average of $13.35 and a 200-day simple moving average of $18.21. The company has a quick ratio of 0.77, a current ratio of 1.29 and a debt-to-equity ratio of 1.79. Wolverine World Wide, Inc. has a 12 month low of $9.58 and a 12 month high of $24.64.

Wolverine World Wide (NYSE:WWW) last issued its earnings results on Thursday, May 8th. The textile maker reported $0.18 EPS for the quarter, topping the consensus estimate of $0.11 by $0.07. The business had revenue of $412.30 million during the quarter, compared to analysts’ expectations of $395.94 million. Wolverine World Wide had a return on equity of 26.81% and a net margin of 2.73%. Wolverine World Wide’s revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.11 earnings per share. On average, sell-side analysts anticipate that Wolverine World Wide, Inc. will post 1.23 EPS for the current fiscal year.

Wolverine World Wide Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Tuesday, July 1st will be given a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $0.40 annualized dividend and a dividend yield of 2.35%. Wolverine World Wide’s dividend payout ratio (DPR) is presently 45.98%.

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.