131,272 Shares in Wolverine World Wide, Inc. (NYSE:WWW) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new position in shares of Wolverine World Wide, Inc. (NYSE:WWW) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 131,272 shares of the textile maker’s stock, valued at approximately $2,914,000. Raymond James Financial Inc. owned 0.16% of Wolverine World Wide at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Legal & General Group Plc lifted its stake in shares of Wolverine World Wide by 1.6% in the fourth quarter. Legal & General Group Plc now owns 227,908 shares of the textile maker’s stock worth $5,060,000 after acquiring an additional 3,696 shares during the period. Invesco Ltd. increased its position in shares of Wolverine World Wide by 13.7% during the fourth quarter. Invesco Ltd. now owns 698,904 shares of the textile maker’s stock worth $15,516,000 after buying an additional 83,970 shares during the period. Bank of Montreal Can increased its position in shares of Wolverine World Wide by 19.8% during the fourth quarter. Bank of Montreal Can now owns 14,526 shares of the textile maker’s stock worth $322,000 after buying an additional 2,396 shares during the period. FMR LLC lifted its holdings in Wolverine World Wide by 2.2% in the fourth quarter. FMR LLC now owns 11,766,527 shares of the textile maker’s stock valued at $261,217,000 after buying an additional 249,456 shares during the period. Finally, Federated Hermes Inc. boosted its position in Wolverine World Wide by 32.4% during the fourth quarter. Federated Hermes Inc. now owns 718,567 shares of the textile maker’s stock valued at $15,952,000 after acquiring an additional 175,969 shares during the last quarter. 90.25% of the stock is owned by institutional investors and hedge funds.

Wolverine World Wide Stock Performance

Shares of WWW stock opened at $12.95 on Tuesday. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.29 and a quick ratio of 0.77. The firm has a 50-day moving average of $13.13 and a 200-day moving average of $18.30. Wolverine World Wide, Inc. has a one year low of $9.58 and a one year high of $24.64. The company has a market cap of $1.05 billion, a P/E ratio of 23.55 and a beta of 1.74.

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

Wolverine World Wide Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 1st will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 3.09%. The ex-dividend date is Tuesday, April 1st. Wolverine World Wide’s dividend payout ratio (DPR) is 72.73%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on WWW shares. StockNews.com lowered Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. Piper Sandler dropped their price target on Wolverine World Wide from $27.00 to $18.00 and set an “overweight” rating on the stock in a research note on Friday, April 11th. Robert W. Baird raised shares of Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $15.00 price objective for the company in a research report on Monday, April 21st. Baird R W upgraded shares of Wolverine World Wide from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 21st. Finally, UBS Group raised their price target on shares of Wolverine World Wide from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, April 22nd. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.88.

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.