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

Massachusetts Financial Services Co. MA bought a new stake in shares of Wolverine World Wide, Inc. (NYSE:WWW - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 106,273 shares of the textile maker's stock, valued at approximately $2,359,000. Massachusetts Financial Services Co. MA owned 0.13% of Wolverine World Wide as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. State Street Corp raised its holdings in shares of Wolverine World Wide by 0.5% in the 3rd quarter. State Street Corp now owns 3,065,736 shares of the textile maker's stock worth $53,405,000 after acquiring an additional 16,228 shares during the last quarter. Pacer Advisors Inc. purchased a new stake in shares of Wolverine World Wide in the fourth quarter worth approximately $64,943,000. JPMorgan Chase & Co. lifted its holdings in shares of Wolverine World Wide by 70.0% in the fourth 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 in the last quarter. Geode Capital Management LLC boosted its position in shares of Wolverine World Wide by 1.0% during the third quarter. Geode Capital Management LLC now owns 1,791,789 shares of the textile maker's stock valued at $31,219,000 after buying an additional 17,400 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Wolverine World Wide by 5.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,670,760 shares of the textile maker's stock worth $37,091,000 after buying an additional 86,475 shares in the last quarter. 90.25% of the stock is owned by institutional investors.

Wolverine World Wide Stock Performance

NYSE WWW traded down $0.03 during trading on Monday, hitting $11.02. 79,343 shares of the company's stock traded hands, compared to its average volume of 1,286,352. The stock has a market capitalization of $893.01 million, a price-to-earnings ratio of 20.04 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 business has a 50 day moving average of $14.84 and a 200-day moving average of $18.72. Wolverine World Wide, Inc. has a 12-month low of $9.15 and a 12-month high of $24.64.

Wolverine World Wide (NYSE:WWW - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The textile maker reported $0.42 earnings per share (EPS) for the quarter, hitting 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 business had revenue of $494.70 million for the quarter, compared to analysts' expectations of $485.74 million. During the same quarter in the prior year, the firm posted ($0.30) EPS. The firm's quarterly revenue was down 6.1% on a year-over-year basis. As a group, equities research analysts anticipate that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current fiscal year.

Wolverine World Wide Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 3.63%. Wolverine World Wide's payout ratio is currently 72.73%.

Wall Street Analyst Weigh In

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

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.