Massachusetts Financial Services Co. MA Invests $2.36 Million in Wolverine World Wide, Inc. (NYSE:WWW)

Massachusetts Financial Services Co. MA acquired a new stake in Wolverine World Wide, Inc. (NYSE:WWW) during the fourth quarter, Holdings Channel.com reports. The firm acquired 106,273 shares of the textile maker’s stock, valued at approximately $2,359,000.

Several other institutional investors and hedge funds also recently made changes to their positions in WWW. The Manufacturers Life Insurance Company boosted its holdings in shares of Wolverine World Wide by 26.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 38,507 shares of the textile maker’s stock worth $671,000 after buying an additional 7,995 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Wolverine World Wide by 31.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 41,586 shares of the textile maker’s stock valued at $724,000 after acquiring an additional 9,927 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Wolverine World Wide by 4.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 184,108 shares of the textile maker’s stock worth $3,207,000 after acquiring an additional 8,187 shares in the last quarter. Captrust Financial Advisors grew its holdings in Wolverine World Wide by 21.3% in the third quarter. Captrust Financial Advisors now owns 25,167 shares of the textile maker’s stock worth $438,000 after purchasing an additional 4,413 shares during the period. Finally, HighTower Advisors LLC bought a new stake in Wolverine World Wide in the third quarter valued at $192,000. Institutional investors own 90.25% of the company’s stock.

Wolverine World Wide Trading Down 10.3 %

NYSE WWW opened at $9.98 on Wednesday. The company has a current ratio of 1.29, a quick ratio of 0.77 and a debt-to-equity ratio of 1.79. The business has a fifty day simple moving average of $15.70 and a 200 day simple moving average of $18.84. Wolverine World Wide, Inc. has a 12 month low of $9.07 and a 12 month high of $24.64. The firm has a market capitalization of $808.73 million, a P/E ratio of 18.15 and a beta of 1.74.

Wolverine World Wide (NYSE:WWW) last announced its earnings results on Wednesday, February 19th. The textile maker reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. Wolverine World Wide had a net margin of 2.73% and a return on equity of 26.81%. The company had revenue of $494.70 million during the quarter, compared to the consensus estimate of $485.74 million. During the same quarter in the prior year, the company posted ($0.30) earnings per share. The firm’s revenue for the quarter was down 6.1% on a year-over-year basis. On average, analysts predict 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 Thursday, May 1st. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.01%. Wolverine World Wide’s payout ratio is presently 72.73%.

Wall Street Analyst Weigh In

Several analysts have recently commented on WWW shares. StockNews.com downgraded Wolverine World Wide from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th. Stifel Nicolaus raised Wolverine World Wide from a “hold” rating to a “buy” rating and raised their price objective for the company from $21.00 to $29.00 in a research note on Wednesday, December 11th. UBS Group lowered their target price on Wolverine World Wide from $29.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Robert W. Baird reduced their price target on shares of Wolverine World Wide from $21.00 to $18.00 and set a “neutral” rating for the company in a research report on Thursday, February 20th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $23.00 price objective on shares of Wolverine World Wide in a report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Wolverine World Wide currently has an average rating of “Moderate Buy” and an average price target of $21.50.

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.