WINTON GROUP Ltd Makes New $1.97 Million Investment in Wolverine World Wide, Inc. (NYSE:WWW)

WINTON GROUP Ltd purchased a new position in Wolverine World Wide, Inc. (NYSE:WWW) in the second quarter, HoldingsChannel reports. The fund purchased 145,411 shares of the textile maker’s stock, valued at approximately $1,966,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in WWW. Russell Investments Group Ltd. increased its position in shares of Wolverine World Wide by 15.9% in the 4th quarter. Russell Investments Group Ltd. now owns 131,020 shares of the textile maker’s stock worth $1,165,000 after purchasing an additional 17,959 shares during the last quarter. Victory Capital Management Inc. grew its stake in Wolverine World Wide by 40.1% in the fourth quarter. Victory Capital Management Inc. now owns 21,623 shares of the textile maker’s stock worth $192,000 after purchasing an additional 6,189 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Wolverine World Wide by 6.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,771,991 shares of the textile maker’s stock valued at $15,753,000 after buying an additional 103,368 shares during the last quarter. Jump Financial LLC raised its stake in Wolverine World Wide by 97.3% during the fourth quarter. Jump Financial LLC now owns 64,015 shares of the textile maker’s stock valued at $569,000 after buying an additional 31,574 shares in the last quarter. Finally, Oxford Asset Management LLP bought a new position in Wolverine World Wide during the 4th quarter worth approximately $124,000. Institutional investors own 90.25% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on WWW. KeyCorp upgraded Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 price target for the company in a report on Thursday, August 8th. Telsey Advisory Group reiterated a “market perform” rating and set a $14.00 target price on shares of Wolverine World Wide in a research note on Wednesday, August 7th. Piper Sandler restated an “overweight” rating and issued a $18.00 price target on shares of Wolverine World Wide in a research report on Friday, August 23rd. UBS Group raised shares of Wolverine World Wide from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $13.00 to $20.00 in a research report on Friday, July 19th. Finally, Argus raised shares of Wolverine World Wide to a “hold” rating in a report on Friday, August 16th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $17.17.

Wolverine World Wide Trading Up 8.3 %

Shares of NYSE:WWW opened at $14.71 on Monday. The company has a quick ratio of 0.74, a current ratio of 1.19 and a debt-to-equity ratio of 2.14. The company’s 50-day moving average price is $13.44 and its 200 day moving average price is $12.30. The company has a market cap of $1.18 billion, a PE ratio of -15.82 and a beta of 1.76. Wolverine World Wide, Inc. has a fifty-two week low of $7.21 and a fifty-two week high of $15.23.

Wolverine World Wide (NYSE:WWW) last released its quarterly earnings results on Wednesday, August 7th. The textile maker reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.05. Wolverine World Wide had a negative return on equity of 0.34% and a negative net margin of 4.42%. The company had revenue of $425.40 million for the quarter, compared to analysts’ expectations of $411.20 million. During the same quarter in the previous year, the company posted $0.19 earnings per share. The business’s revenue for the quarter was down 27.8% compared to the same quarter last year. Sell-side analysts anticipate that Wolverine World Wide, Inc. will post 0.85 earnings per share for the current year.

Wolverine World Wide Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 1st will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date is Tuesday, October 1st. Wolverine World Wide’s dividend payout ratio is currently -43.01%.

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.