ClariVest Asset Management LLC Invests $1.06 Million in Wolverine World Wide, Inc. (NYSE:WWW)

ClariVest Asset Management LLC bought a new stake in Wolverine World Wide, Inc. (NYSE:WWW) in the 2nd quarter, according to its most recent filing with the SEC. The fund bought 78,165 shares of the textile maker’s stock, valued at approximately $1,057,000. ClariVest Asset Management LLC owned 0.10% of Wolverine World Wide at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in shares of Wolverine World Wide by 42.5% in the first quarter. GAMMA Investing LLC now owns 4,504 shares of the textile maker’s stock worth $50,000 after acquiring an additional 1,343 shares during the period. Central Pacific Bank Trust Division acquired a new position in Wolverine World Wide in the 1st quarter worth about $81,000. Natixis purchased a new position in Wolverine World Wide during the first quarter worth approximately $112,000. Oxford Asset Management LLP purchased a new position in Wolverine World Wide during the fourth quarter worth approximately $124,000. Finally, Connable Office Inc. acquired a new stake in Wolverine World Wide in the fourth quarter valued at approximately $137,000. 90.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Piper Sandler reiterated an “overweight” rating and set a $18.00 target price on shares of Wolverine World Wide in a research report on Friday, August 23rd. Telsey Advisory Group reiterated a “market perform” rating and issued a $14.00 target price on shares of Wolverine World Wide in a research report on Wednesday, August 7th. Argus raised shares of Wolverine World Wide to a “hold” rating in a research note on Friday, August 16th. UBS Group raised shares of Wolverine World Wide from a “neutral” rating to a “buy” rating and raised their price target for the company from $13.00 to $20.00 in a research note on Friday, July 19th. Finally, KeyCorp upgraded Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 price objective for the company 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 MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $17.17.

Wolverine World Wide Trading Down 3.1 %

Shares of Wolverine World Wide stock opened at $13.29 on Thursday. Wolverine World Wide, Inc. has a 1-year low of $7.21 and a 1-year high of $15.23. 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 stock has a market cap of $1.06 billion, a P/E ratio of -14.29 and a beta of 1.76. The stock’s 50 day simple moving average is $13.39 and its 200-day simple moving average is $12.22.

Wolverine World Wide (NYSE:WWW) last released its quarterly earnings data on Wednesday, August 7th. The textile maker reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.05. Wolverine World Wide had a negative return on equity of 0.34% and a negative net margin of 4.42%. The company had revenue of $425.40 million for the quarter, compared to analyst estimates of $411.20 million. During the same quarter in the previous year, the company posted $0.19 earnings per share. The firm’s revenue for the quarter was down 27.8% compared to the same quarter last year. Analysts predict 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. Shareholders of record on Tuesday, October 1st will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $0.40 annualized dividend and a yield of 3.01%. Wolverine World Wide’s payout ratio is -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.