JPMorgan Chase & Co. Increases Stake in Wolverine World Wide, Inc. (NYSE:WWW)

JPMorgan Chase & Co. grew its stake in shares of Wolverine World Wide, Inc. (NYSE:WWW - Free Report) by 70.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,425,858 shares of the textile maker's stock after acquiring an additional 998,916 shares during the quarter. JPMorgan Chase & Co. owned about 3.03% of Wolverine World Wide worth $53,854,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Prudential Financial Inc. increased its holdings in shares of Wolverine World Wide by 16.5% during the fourth quarter. Prudential Financial Inc. now owns 521,935 shares of the textile maker's stock valued at $11,587,000 after acquiring an additional 74,090 shares in the last quarter. LPL Financial LLC acquired a new position in shares of Wolverine World Wide during the fourth quarter valued at about $378,000. KLP Kapitalforvaltning AS acquired a new position in Wolverine World Wide in the 4th quarter worth approximately $355,000. AXQ Capital LP acquired a new position in Wolverine World Wide in the 4th quarter worth approximately $310,000. Finally, Hillsdale Investment Management Inc. acquired a new position in Wolverine World Wide in the 4th quarter worth approximately $4,317,000. Institutional investors and hedge funds own 90.25% of the company's stock.

Wolverine World Wide Price Performance

Shares of NYSE:WWW traded down $0.94 during midday trading on Thursday, reaching $11.39. 304,668 shares of the company's stock traded hands, compared to its average volume of 1,460,242. Wolverine World Wide, Inc. has a 1 year low of $9.06 and a 1 year high of $24.64. The company has a market cap of $922.99 million, a P/E ratio of 20.71 and a beta of 1.74. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.77 and a current ratio of 1.29. The company has a fifty day simple moving average of $15.27 and a two-hundred day simple moving average of $18.77.

Wolverine World Wide (NYSE:WWW - Get Free Report) last announced its earnings results on Wednesday, February 19th. The textile maker reported $0.42 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.42. Wolverine World Wide had a return on equity of 26.81% and a net margin of 2.73%. The firm had revenue of $494.70 million for the quarter, compared to analyst estimates of $485.74 million. During the same quarter last year, the firm posted ($0.30) EPS. The business's revenue was down 6.1% on a year-over-year basis. Equities analysts predict that Wolverine World Wide, Inc. will post 1.23 EPS for the current fiscal year.

Wolverine World Wide Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 1st will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.40 dividend on an annualized basis and a yield of 3.51%. Wolverine World Wide's payout ratio is currently 72.73%.

Analyst Ratings Changes

Several brokerages recently weighed in on WWW. Stifel Nicolaus cut their price target on shares of Wolverine World Wide from $27.00 to $19.00 and set a "buy" rating on the stock in a report on Thursday. StockNews.com downgraded shares of Wolverine World Wide from a "buy" rating to a "hold" rating in a report on Tuesday, February 11th. Telsey Advisory Group reiterated a "market perform" rating and issued a $23.00 price target on shares of Wolverine World Wide in a report on Wednesday, February 19th. UBS Group cut their price target on shares of Wolverine World Wide from $29.00 to $26.00 and set a "buy" rating on the stock in a report on Thursday, February 20th. Finally, Robert W. Baird dropped their price objective on shares of Wolverine World Wide from $21.00 to $18.00 and set a "neutral" rating on the stock in a research note on Thursday, February 20th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Wolverine World Wide currently has an average rating of "Moderate Buy" and a consensus price target of $20.25.

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.