IFP Advisors Inc Sells 6,500 Shares of Wolverine World Wide, Inc. (NYSE:WWW)

IFP Advisors Inc decreased its holdings in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 61.2% in the first quarter, Holdings Channel reports. The firm owned 4,123 shares of the textile maker’s stock after selling 6,500 shares during the quarter. IFP Advisors Inc’s holdings in Wolverine World Wide were worth $57,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Wolverine World Wide in the 1st quarter valued at $608,000. JPMorgan Chase & Co. lifted its position in Wolverine World Wide by 70.0% during the 4th quarter. JPMorgan Chase & Co. now owns 2,425,858 shares of the textile maker’s stock worth $53,854,000 after buying an additional 998,916 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Wolverine World Wide by 5.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,670,760 shares of the textile maker’s stock worth $37,091,000 after buying an additional 86,475 shares in the last quarter. Illinois Municipal Retirement Fund raised its holdings in shares of Wolverine World Wide by 8.4% in 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 during the period. Finally, Nuveen Asset Management LLC raised its holdings in shares of Wolverine World Wide by 179.1% in the 4th quarter. Nuveen Asset Management LLC now owns 628,338 shares of the textile maker’s stock valued at $13,949,000 after purchasing an additional 403,176 shares during the period. Institutional investors own 90.25% of the company’s stock.

Wolverine World Wide Stock Down 2.1%

WWW opened at $22.91 on Thursday. The company has a quick ratio of 0.77, a current ratio of 1.26 and a debt-to-equity ratio of 1.76. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of 26.33 and a beta of 1.70. Wolverine World Wide, Inc. has a twelve month low of $9.58 and a twelve month high of $24.64. The company’s 50-day moving average price is $18.96 and its two-hundred day moving average price is $17.03.

Wolverine World Wide (NYSE:WWW) last released its earnings results on Thursday, May 8th. The textile maker reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.07. Wolverine World Wide had a net margin of 4.15% and a return on equity of 28.74%. The firm had revenue of $412.30 million for the quarter, compared to analysts’ expectations of $395.94 million. During the same period in the previous year, the company earned $0.11 earnings per share. The company’s quarterly revenue was up 4.4% on a year-over-year basis. As a group, equities analysts expect that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current year.

Wolverine World Wide Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Wednesday, October 1st will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.75%. Wolverine World Wide’s dividend payout ratio (DPR) is currently 45.98%.

Analyst Ratings Changes

WWW has been the topic of several analyst reports. Piper Sandler reduced their price target on shares of Wolverine World Wide from $27.00 to $18.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. Robert W. Baird lifted their price target on shares of Wolverine World Wide from $15.00 to $20.00 and gave the stock an “outperform” rating in a report on Tuesday, May 6th. Argus raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Friday, May 16th. Baird R W raised 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 lifted their price target on shares of Wolverine World Wide from $22.00 to $30.00 and gave the company a “buy” rating in a research note on Monday. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $20.75.

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.