Pacer Advisors Inc. Acquires Shares of 2,925,369 Wolverine World Wide, Inc. (NYSE:WWW)

Pacer Advisors Inc. bought a new stake in Wolverine World Wide, Inc. (NYSE:WWW - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,925,369 shares of the textile maker's stock, valued at approximately $64,943,000. Pacer Advisors Inc. owned approximately 3.65% of Wolverine World Wide at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Future Financial Wealth Managment LLC purchased a new position in Wolverine World Wide during the 3rd quarter worth $35,000. Cedar Mountain Advisors LLC purchased a new stake in Wolverine World Wide during the 3rd quarter valued at approximately $70,000. KBC Group NV lifted its position in Wolverine World Wide by 43.8% during the 4th quarter. KBC Group NV now owns 4,303 shares of the textile maker's stock worth $96,000 after acquiring an additional 1,311 shares during the period. GAMMA Investing LLC raised its stake in shares of Wolverine World Wide by 15.9% during the third quarter. GAMMA Investing LLC now owns 4,494 shares of the textile maker's stock worth $78,000 after purchasing an additional 616 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in Wolverine World Wide in the 2nd quarter valued at $68,000. 90.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Stifel Nicolaus upgraded shares of Wolverine World Wide from a "hold" rating to a "buy" rating and boosted their price target for the stock from $21.00 to $29.00 in a research note on Wednesday, December 11th. BNP Paribas raised shares of Wolverine World Wide from a "neutral" rating to an "outperform" rating and set a $22.00 price objective on the stock in a report on Thursday, October 3rd. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $15.00 target price on shares of Wolverine World Wide in a report on Thursday, November 7th. Finally, StockNews.com upgraded Wolverine World Wide from a "hold" rating to a "buy" rating in a report on Wednesday, January 22nd. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $19.38.

Insider Buying and Selling

In related news, insider Amy M. Klimek sold 24,000 shares of the firm's stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $22.07, for a total value of $529,680.00. Following the transaction, the insider now owns 20,238 shares in the company, valued at approximately $446,652.66. This trade represents a 54.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Isabel Soriano sold 7,687 shares of Wolverine World Wide stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $23.57, for a total transaction of $181,182.59. Following the transaction, the insider now directly owns 34,206 shares in the company, valued at approximately $806,235.42. This trade represents a 18.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,901 shares of company stock worth $916,266. 2.28% of the stock is owned by company insiders.

Wolverine World Wide Trading Up 0.7 %

Shares of NYSE WWW traded up $0.16 during midday trading on Tuesday, reaching $23.38. 1,066,774 shares of the stock were exchanged, compared to its average volume of 1,155,863. The company has a current ratio of 1.23, a quick ratio of 0.77 and a debt-to-equity ratio of 1.91. The company has a market capitalization of $1.87 billion, a P/E ratio of -26.26 and a beta of 1.88. The stock has a 50 day moving average price of $22.91 and a 200-day moving average price of $18.03. Wolverine World Wide, Inc. has a 52-week low of $8.05 and a 52-week high of $24.64.

Wolverine World Wide Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 2nd will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $0.40 annualized dividend and a yield of 1.71%. Wolverine World Wide's payout ratio is currently -44.94%.

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.