Wolverine World Wide, Inc. (NYSE:WWW) Position Boosted by Federated Hermes Inc.

Federated Hermes Inc. lifted its stake in Wolverine World Wide, Inc. (NYSE:WWW) by 32.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 718,567 shares of the textile maker’s stock after acquiring an additional 175,969 shares during the quarter. Federated Hermes Inc.’s holdings in Wolverine World Wide were worth $15,952,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in WWW. The Manufacturers Life Insurance Company raised its stake in shares of Wolverine World Wide by 26.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 38,507 shares of the textile maker’s stock worth $671,000 after purchasing an additional 7,995 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Wolverine World Wide by 31.4% in the third quarter. BNP Paribas Financial Markets now owns 41,586 shares of the textile maker’s stock worth $724,000 after buying an additional 9,927 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Wolverine World Wide by 4.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 184,108 shares of the textile maker’s stock valued at $3,207,000 after acquiring an additional 8,187 shares in the last quarter. Captrust Financial Advisors lifted its stake in Wolverine World Wide by 21.3% in the third quarter. Captrust Financial Advisors now owns 25,167 shares of the textile maker’s stock valued at $438,000 after acquiring an additional 4,413 shares during the last quarter. Finally, HighTower Advisors LLC bought a new stake in Wolverine World Wide in the third quarter worth approximately $192,000. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Wolverine World Wide Stock Performance

NYSE WWW opened at $12.40 on Thursday. The firm has a 50-day moving average price of $15.27 and a two-hundred day moving average price of $18.77. Wolverine World Wide, Inc. has a 12-month low of $9.07 and a 12-month high of $24.64. The company has a market capitalization of $1.00 billion, a P/E ratio of 22.54 and a beta of 1.74. The company has a quick ratio of 0.77, a current ratio of 1.29 and a debt-to-equity ratio of 1.79.

Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings data on Wednesday, February 19th. The textile maker reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. Wolverine World Wide had a net margin of 2.73% and a return on equity of 26.81%. The business had revenue of $494.70 million during the quarter, compared to analysts’ expectations of $485.74 million. During the same quarter in the prior year, the business posted ($0.30) earnings per share. Wolverine World Wide’s revenue was down 6.1% compared to the same quarter last year. Analysts anticipate that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current year.

Wolverine World Wide Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 1st will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.23%. Wolverine World Wide’s payout ratio is currently 72.73%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Stifel Nicolaus upgraded Wolverine World Wide from a “hold” rating to a “buy” rating and raised their target price for the company from $21.00 to $29.00 in a report on Wednesday, December 11th. Telsey Advisory Group reissued a “market perform” rating and set a $23.00 target price on shares of Wolverine World Wide in a research report on Wednesday, February 19th. UBS Group dropped their price objective on shares of Wolverine World Wide from $29.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. StockNews.com lowered Wolverine World Wide from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th. Finally, Robert W. Baird reduced their target price on Wolverine World Wide from $21.00 to $18.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.50.

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.