JPMorgan Chase & Co. Has $24.86 Million Stock Position in Wolverine World Wide, Inc. (NYSE:WWW)

JPMorgan Chase & Co. boosted its stake in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 1,263.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,426,942 shares of the textile maker’s stock after buying an additional 1,322,254 shares during the quarter. JPMorgan Chase & Co.’s holdings in Wolverine World Wide were worth $24,857,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Future Financial Wealth Managment LLC acquired a new stake in shares of Wolverine World Wide in the 3rd quarter valued at approximately $35,000. Cedar Mountain Advisors LLC bought a new stake in Wolverine World Wide during the third quarter worth $70,000. GAMMA Investing LLC lifted its stake in Wolverine World Wide by 15.9% in the third quarter. GAMMA Investing LLC now owns 4,494 shares of the textile maker’s stock valued at $78,000 after acquiring an additional 616 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in Wolverine World Wide in the second quarter valued at $68,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Wolverine World Wide in the 3rd quarter valued at about $113,000. 90.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on WWW shares. StockNews.com downgraded shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a research note on Friday, January 3rd. Stifel Nicolaus raised Wolverine World Wide from a “hold” rating to a “buy” rating and raised their price objective for the company from $21.00 to $29.00 in a research report on Wednesday, December 11th. Telsey Advisory Group reissued a “market perform” rating and set a $15.00 target price on shares of Wolverine World Wide in a report on Thursday, November 7th. Finally, BNP Paribas raised Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 price target for the company in a report on Thursday, October 3rd. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Wolverine World Wide has an average rating of “Moderate Buy” and a consensus price target of $19.38.

Wolverine World Wide Stock Performance

WWW opened at $22.76 on Wednesday. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.23 and a quick ratio of 0.77. The business has a fifty day simple moving average of $21.76 and a 200 day simple moving average of $17.00. Wolverine World Wide, Inc. has a 1 year low of $7.87 and a 1 year high of $24.64. The company has a market capitalization of $1.82 billion, a PE ratio of -25.57 and a beta of 1.88.

Wolverine World Wide Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 2nd will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $0.40 annualized dividend and a dividend yield of 1.76%. Wolverine World Wide’s dividend payout ratio (DPR) is presently -44.94%.

Insider Buying and Selling

In related news, insider Amy M. Klimek sold 24,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $22.07, for a total transaction of $529,680.00. Following the sale, the insider now owns 20,238 shares of the company’s stock, valued at $446,652.66. This represents a 54.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.28% of the stock is owned by insiders.

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.