Earnest Partners LLC Increases Stock Holdings in Wolverine World Wide, Inc. (NYSE:WWW)

Earnest Partners LLC lifted its position in Wolverine World Wide, Inc. (NYSE:WWW) by 1.7% during the second quarter, HoldingsChannel reports. The institutional investor owned 5,321,797 shares of the textile maker’s stock after purchasing an additional 90,407 shares during the period. Earnest Partners LLC owned about 0.07% of Wolverine World Wide worth $71,951,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Louisiana State Employees Retirement System lifted its holdings in shares of Wolverine World Wide by 2.0% in the second quarter. Louisiana State Employees Retirement System now owns 40,200 shares of the textile maker’s stock worth $544,000 after buying an additional 800 shares in the last quarter. Texas Permanent School Fund Corp raised its stake in Wolverine World Wide by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 69,168 shares of the textile maker’s stock valued at $775,000 after purchasing an additional 946 shares in the last quarter. Hsbc Holdings PLC raised its stake in Wolverine World Wide by 9.3% in the second quarter. Hsbc Holdings PLC now owns 11,425 shares of the textile maker’s stock valued at $153,000 after purchasing an additional 973 shares in the last quarter. ProShare Advisors LLC raised its stake in Wolverine World Wide by 7.5% in the first quarter. ProShare Advisors LLC now owns 15,708 shares of the textile maker’s stock valued at $176,000 after purchasing an additional 1,090 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Wolverine World Wide by 42.5% in the first quarter. GAMMA Investing LLC now owns 4,504 shares of the textile maker’s stock valued at $50,000 after purchasing an additional 1,343 shares in the last quarter. 90.25% of the stock is owned by hedge funds and other institutional investors.

Wolverine World Wide Stock Up 6.9 %

Shares of NYSE WWW opened at $17.20 on Friday. Wolverine World Wide, Inc. has a one year low of $7.21 and a one year high of $17.22. 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 firm’s 50 day simple moving average is $13.86 and its two-hundred day simple moving average is $12.59. The stock has a market capitalization of $1.38 billion, a P/E ratio of -18.49 and a beta of 1.76.

Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings results on Wednesday, August 7th. The textile maker reported $0.15 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $425.40 million for the quarter, compared to analysts’ expectations of $411.20 million. During the same period last year, the business earned $0.19 earnings per share. The business’s quarterly revenue was down 27.8% on a year-over-year basis. As a group, analysts expect 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. Stockholders of record on Tuesday, October 1st will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend is Tuesday, October 1st. Wolverine World Wide’s dividend payout ratio is -43.01%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on WWW. KeyCorp raised shares of 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 note on Thursday, August 8th. Robert W. Baird raised their target price on shares of Wolverine World Wide from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $14.00 target price on shares of Wolverine World Wide in a research note on Wednesday, August 7th. Piper Sandler reaffirmed an “overweight” rating and issued a $18.00 target price on shares of Wolverine World Wide in a research note on Friday, August 23rd. Finally, UBS Group raised shares of Wolverine World Wide from a “neutral” rating to a “buy” rating and raised their target price for the company from $13.00 to $20.00 in a research note on Friday, July 19th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.17.

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.