Prudential Financial Inc. Purchases 74,090 Shares of Wolverine World Wide, Inc. (NYSE:WWW)

Prudential Financial Inc. raised its holdings in Wolverine World Wide, Inc. (NYSE:WWW - Free Report) by 16.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 521,935 shares of the textile maker's stock after buying an additional 74,090 shares during the quarter. Prudential Financial Inc. owned 0.65% of Wolverine World Wide worth $11,587,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. State Street Corp boosted its stake in Wolverine World Wide by 0.5% during the third 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 in the last quarter. Pacer Advisors Inc. bought a new position in shares of Wolverine World Wide during the 4th quarter worth about $64,943,000. Geode Capital Management LLC boosted its position in shares of Wolverine World Wide by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,791,789 shares of the textile maker's stock worth $31,219,000 after purchasing an additional 17,400 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Wolverine World Wide by 1,263.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,426,942 shares of the textile maker's stock valued at $24,857,000 after buying an additional 1,322,254 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its stake in Wolverine World Wide by 51.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 994,483 shares of the textile maker's stock worth $17,324,000 after buying an additional 335,669 shares during the period. 90.25% of the stock is currently owned by institutional investors.

Remove Ads

Wolverine World Wide Stock Up 0.9 %

NYSE:WWW traded up $0.13 on Tuesday, hitting $13.94. The stock had a trading volume of 477,963 shares, compared to its average volume of 1,357,035. Wolverine World Wide, Inc. has a 1 year low of $9.06 and a 1 year high of $24.64. The firm's fifty day simple moving average is $17.26 and its two-hundred day simple moving average is $19.03. The stock has a market cap of $1.13 billion, a P/E ratio of 25.31 and a beta of 1.93. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.77 and a current ratio of 1.29.

Wolverine World Wide (NYSE:WWW - Get Free Report) 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. Analysts predict that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current year.

Wolverine World Wide Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 1st will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend is Tuesday, April 1st. Wolverine World Wide's payout ratio is 72.73%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Robert W. Baird reduced their price objective on Wolverine World Wide from $21.00 to $18.00 and set a "neutral" rating for the company in a research note on Thursday, February 20th. Stifel Nicolaus raised shares of Wolverine World Wide from a "hold" rating to a "buy" rating and lifted their price target for the company from $21.00 to $29.00 in a research report on Wednesday, December 11th. 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. StockNews.com cut shares of Wolverine World Wide from a "buy" rating to a "hold" rating in a report on Tuesday, February 11th. Finally, UBS Group lowered their target price 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. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average 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.