Nisa Investment Advisors LLC Has $807,000 Stock Holdings in Wolverine World Wide, Inc. (NYSE:WWW)

Nisa Investment Advisors LLC grew its stake in Wolverine World Wide, Inc. (NYSE:WWW) by 60.2% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 57,987 shares of the textile maker’s stock after buying an additional 21,795 shares during the period. Nisa Investment Advisors LLC’s holdings in Wolverine World Wide were worth $807,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Principal Financial Group Inc. boosted its position in shares of Wolverine World Wide by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 399,738 shares of the textile maker’s stock valued at $5,560,000 after purchasing an additional 9,029 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Wolverine World Wide during the 1st quarter valued at about $163,000. WCM Investment Management LLC bought a new stake in shares of Wolverine World Wide during the 1st quarter valued at about $7,164,000. Illinois Municipal Retirement Fund boosted its position in shares of Wolverine World Wide by 8.4% during the 1st quarter. Illinois Municipal Retirement Fund now owns 44,317 shares of the textile maker’s stock valued at $616,000 after purchasing an additional 3,441 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its holdings in Wolverine World Wide by 4.5% in the first quarter. Oppenheimer Asset Management Inc. now owns 153,754 shares of the textile maker’s stock worth $2,139,000 after acquiring an additional 6,624 shares in the last quarter. Institutional investors and hedge funds own 90.25% of the company’s stock.

Wolverine World Wide Stock Performance

Shares of Wolverine World Wide stock opened at $18.95 on Wednesday. The company has a market cap of $1.54 billion, a PE ratio of 21.78 and a beta of 1.70. Wolverine World Wide, Inc. has a 52 week low of $9.58 and a 52 week high of $24.64. The business has a 50 day moving average price of $17.73 and a 200-day moving average price of $17.02. The company has a quick ratio of 0.77, a current ratio of 1.26 and a debt-to-equity ratio of 1.76.

Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings data on Thursday, May 8th. The textile maker reported $0.18 EPS for the quarter, topping the consensus estimate of $0.11 by $0.07. The firm had revenue of $412.30 million during the quarter, compared to the consensus estimate of $395.94 million. Wolverine World Wide had a return on equity of 28.74% and a net margin of 4.15%. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.11 earnings per share. Equities analysts anticipate that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current fiscal year.

Wolverine World Wide Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Tuesday, July 1st will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Tuesday, July 1st. Wolverine World Wide’s payout ratio is 45.98%.

Analysts Set New Price Targets

WWW has been the topic of several recent research reports. Robert W. Baird increased their price target on Wolverine World Wide from $15.00 to $20.00 and gave the stock an “outperform” rating in a report on Tuesday, May 6th. Piper Sandler cut their price target on Wolverine World Wide from $27.00 to $18.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. Baird R W upgraded Wolverine World Wide from a “hold” rating to a “strong-buy” rating in a report on Monday, April 21st. Stifel Nicolaus cut their price target on Wolverine World Wide from $27.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Finally, Argus upgraded Wolverine World Wide from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Friday, May 16th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $19.75.

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.