Thrivent Financial for Lutherans Has $1.38 Million Stake in Wolverine World Wide, Inc. (NYSE:WWW)

Thrivent Financial for Lutherans reduced its holdings in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 1.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 62,037 shares of the textile maker’s stock after selling 944 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Wolverine World Wide were worth $1,377,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. State Street Corp boosted its position in shares of Wolverine World Wide by 0.5% during the 3rd quarter. State Street Corp now owns 3,065,736 shares of the textile maker’s stock valued at $53,405,000 after purchasing an additional 16,228 shares in the last quarter. Pacer Advisors Inc. acquired a new position in Wolverine World Wide in the fourth quarter valued at approximately $64,943,000. Geode Capital Management LLC boosted its holdings 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 buying an additional 17,400 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Wolverine World Wide by 1,263.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,426,942 shares of the textile maker’s stock worth $24,857,000 after buying an additional 1,322,254 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its stake in shares of Wolverine World Wide by 51.0% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 994,483 shares of the textile maker’s stock valued at $17,324,000 after acquiring an additional 335,669 shares in the last quarter. 90.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

WWW has been the topic of several research analyst reports. UBS Group cut 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 research note on Thursday, February 20th. StockNews.com cut shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. Stifel Nicolaus upgraded Wolverine World Wide from a “hold” rating to a “buy” rating and raised their target price for the company from $21.00 to $29.00 in a research note on Wednesday, December 11th. Robert W. Baird dropped their price target on 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. Finally, 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. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $21.50.

Wolverine World Wide Price Performance

WWW stock opened at $13.75 on Monday. 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 simple moving average of $17.44 and a two-hundred day simple moving average of $19.02. The company has a market capitalization of $1.11 billion, a P/E ratio of 25.00 and a beta of 1.93. Wolverine World Wide, Inc. has a 52-week low of $9.07 and a 52-week high of $24.64.

Wolverine World Wide (NYSE:WWW) last announced its earnings results on Wednesday, February 19th. The textile maker reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. The company had revenue of $494.70 million for the quarter, compared to analysts’ expectations of $485.74 million. Wolverine World Wide had a return on equity of 26.81% and a net margin of 2.73%. Wolverine World Wide’s quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.30) earnings per share. Research analysts expect that Wolverine World Wide, Inc. will post 1.23 EPS for the current fiscal year.

Wolverine World Wide Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 1st will be issued a $0.10 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $0.40 annualized dividend and a dividend yield of 2.91%. Wolverine World Wide’s dividend payout ratio is currently 72.73%.

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.