Edgestream Partners L.P. Takes $997,000 Position in Wolverine World Wide, Inc. (NYSE:WWW)

Edgestream Partners L.P. purchased a new position in shares of Wolverine World Wide, Inc. (NYSE:WWW) during the fourth quarter, HoldingsChannel reports. The firm purchased 44,925 shares of the textile maker’s stock, valued at approximately $997,000.

Several other institutional investors also recently modified their holdings of the business. State Street Corp lifted its holdings in Wolverine World Wide by 0.5% during the 3rd quarter. State Street Corp now owns 3,065,736 shares of the textile maker’s stock worth $53,405,000 after buying an additional 16,228 shares during the period. Pacer Advisors Inc. bought a new position in shares of Wolverine World Wide during the fourth quarter worth about $64,943,000. Geode Capital Management LLC lifted its stake in shares of Wolverine World Wide by 1.0% in the third quarter. Geode Capital Management LLC now owns 1,791,789 shares of the textile maker’s stock worth $31,219,000 after acquiring an additional 17,400 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Wolverine World Wide by 1,263.0% in the third quarter. JPMorgan Chase & Co. now owns 1,426,942 shares of the textile maker’s stock worth $24,857,000 after acquiring an additional 1,322,254 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in Wolverine World Wide by 51.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 994,483 shares of the textile maker’s stock valued at $17,324,000 after acquiring an additional 335,669 shares during the last quarter. Institutional investors own 90.25% of the company’s stock.

Wolverine World Wide Price Performance

Shares of NYSE WWW opened at $13.64 on Wednesday. The company has a market capitalization of $1.10 billion, a PE ratio of 24.80 and a beta of 1.93. The company has a quick ratio of 0.77, a current ratio of 1.29 and a debt-to-equity ratio of 1.79. The stock’s 50 day moving average price is $19.74 and its 200-day moving average price is $19.01. Wolverine World Wide, Inc. has a twelve month low of $9.07 and a twelve month high of $24.64.

Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings data on Wednesday, February 19th. The textile maker reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. Wolverine World Wide had a return on equity of 26.81% and a net margin of 2.73%. The business had revenue of $494.70 million for the quarter, compared to analysts’ expectations of $485.74 million. During the same quarter in the previous year, the firm earned ($0.30) earnings per share. The business’s revenue was down 6.1% on a year-over-year basis. On average, equities analysts anticipate that Wolverine World Wide, Inc. will post 1.23 EPS for the current year.

Wolverine World Wide Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 1st will be issued a dividend of $0.10 per share. The ex-dividend date is Tuesday, April 1st. This represents a $0.40 dividend on an annualized basis and a yield of 2.93%. Wolverine World Wide’s dividend payout ratio (DPR) is presently 72.73%.

Wall Street Analyst Weigh In

Several research firms have issued reports on WWW. UBS Group lowered their price target on shares of Wolverine World Wide from $29.00 to $26.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Telsey Advisory Group reissued a “market perform” rating and set a $23.00 target price on shares of Wolverine World Wide in a research note on Wednesday, February 19th. Stifel Nicolaus raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating and upped their price target for the company from $21.00 to $29.00 in a research report on Wednesday, December 11th. Robert W. Baird decreased their price target on Wolverine World Wide from $21.00 to $18.00 and set a “neutral” rating for the company in a report on Thursday, February 20th. Finally, StockNews.com lowered Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Wolverine World Wide currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.50.

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.