Intech Investment Management LLC Buys Shares of 37,546 Wolverine World Wide, Inc. (NYSE:WWW)

Intech Investment Management LLC purchased a new stake in Wolverine World Wide, Inc. (NYSE:WWW) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 37,546 shares of the textile maker’s stock, valued at approximately $508,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. MQS Management LLC purchased a new position in Wolverine World Wide in the second quarter worth approximately $163,000. XTX Topco Ltd acquired a new stake in shares of Wolverine World Wide during the 2nd quarter worth about $146,000. Hsbc Holdings PLC raised its holdings in Wolverine World Wide by 9.3% in the 2nd quarter. Hsbc Holdings PLC now owns 11,425 shares of the textile maker’s stock valued at $153,000 after buying an additional 973 shares during the period. WINTON GROUP Ltd acquired a new position in Wolverine World Wide in the second quarter valued at about $1,966,000. Finally, Envestnet Asset Management Inc. boosted its stake in Wolverine World Wide by 6.4% during the second quarter. Envestnet Asset Management Inc. now owns 293,030 shares of the textile maker’s stock worth $3,962,000 after buying an additional 17,711 shares during the period. Institutional investors and hedge funds own 90.25% of the company’s stock.

Wall Street Analysts Forecast Growth

WWW has been the topic of a number of research analyst reports. UBS Group raised shares of Wolverine World Wide from a “neutral” rating to a “buy” rating and boosted their price target for the company from $13.00 to $20.00 in a research note on Friday, July 19th. KeyCorp raised Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 target price on the stock in a research report on Thursday, August 8th. Argus upgraded Wolverine World Wide to a “hold” rating in a research report on Friday, August 16th. Piper Sandler reiterated an “overweight” rating and issued a $18.00 price objective on shares of Wolverine World Wide in a report on Friday, August 23rd. Finally, Robert W. Baird increased their target price on Wolverine World Wide from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $17.17.

Wolverine World Wide Price Performance

Shares of NYSE WWW opened at $17.20 on Friday. The company has a debt-to-equity ratio of 2.14, a current ratio of 1.19 and a quick ratio of 0.74. The company has a market cap of $1.38 billion, a price-to-earnings ratio of -18.47 and a beta of 1.76. The stock’s 50-day moving average is $13.86 and its two-hundred day moving average is $12.59. Wolverine World Wide, Inc. has a 1-year low of $7.21 and a 1-year high of $17.22.

Wolverine World Wide (NYSE:WWW) last issued its earnings results on Wednesday, August 7th. The textile maker reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.05. Wolverine World Wide had a negative net margin of 4.42% and a negative return on equity of 0.34%. The firm had revenue of $425.40 million for the quarter, compared to analysts’ expectations of $411.20 million. During the same quarter last year, the company earned $0.19 earnings per share. The firm’s revenue was down 27.8% compared to the same quarter last year. Analysts forecast that Wolverine World Wide, Inc. will post 0.85 EPS for the current fiscal year.

Wolverine World Wide Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 1st will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.33%. Wolverine World Wide’s payout ratio is currently -43.01%.

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.