Legal & General Group Plc Has $5.06 Million Stake in Wolverine World Wide, Inc. (NYSE:WWW)

Legal & General Group Plc grew its holdings in Wolverine World Wide, Inc. (NYSE:WWW) by 1.6% during the 4th quarter, HoldingsChannel reports. The firm owned 227,908 shares of the textile maker’s stock after acquiring an additional 3,696 shares during the quarter. Legal & General Group Plc’s holdings in Wolverine World Wide were worth $5,060,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. grew its holdings in Wolverine World Wide by 70.0% in the 4th quarter. JPMorgan Chase & Co. now owns 2,425,858 shares of the textile maker’s stock valued at $53,854,000 after buying an additional 998,916 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Wolverine World Wide by 5.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,670,760 shares of the textile maker’s stock worth $37,091,000 after acquiring an additional 86,475 shares during the last quarter. Savant Capital LLC bought a new position in Wolverine World Wide during the fourth quarter worth $205,000. Pacer Advisors Inc. acquired a new position in Wolverine World Wide during the 4th quarter valued at $64,943,000. Finally, Amundi boosted its holdings in Wolverine World Wide by 161.5% in the 4th quarter. Amundi now owns 47,074 shares of the textile maker’s stock valued at $1,067,000 after purchasing an additional 29,072 shares during the period. 90.25% of the stock is currently owned by institutional investors.

Wolverine World Wide Stock Performance

Wolverine World Wide stock opened at $11.51 on Tuesday. The firm has a market capitalization of $932.71 million, a P/E ratio of 20.93 and a beta of 1.74. The stock has a fifty day moving average price of $13.67 and a two-hundred day moving average price of $18.44. Wolverine World Wide, Inc. has a 52-week low of $9.58 and a 52-week high of $24.64. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.29 and a quick ratio of 0.77.

Wolverine World Wide (NYSE:WWW) last issued 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 net margin of 2.73% and a return on equity of 26.81%. The firm had revenue of $494.70 million for the quarter, compared to analysts’ expectations of $485.74 million. During the same period in the prior year, the firm earned ($0.30) earnings per share. The company’s quarterly revenue was down 6.1% compared to the same quarter last year. As a group, analysts anticipate that Wolverine World Wide, Inc. will post 1.23 EPS for the current fiscal year.

Wolverine World Wide Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 1st will be given a $0.10 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $0.40 annualized dividend and a yield of 3.48%. Wolverine World Wide’s payout ratio is 72.73%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on WWW. Stifel Nicolaus cut their price objective on shares of Wolverine World Wide from $27.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. 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 report on Thursday, February 20th. Robert W. Baird raised Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $15.00 price objective on the stock in a report on Monday. Piper Sandler cut their target price on Wolverine World Wide from $27.00 to $18.00 and set an “overweight” rating for the company in a research note on Friday, April 11th. Finally, StockNews.com downgraded shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $19.88.

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.