Los Angeles Capital Management LLC Invests $1.78 Million in Wolverine World Wide, Inc. (NYSE:WWW)

Los Angeles Capital Management LLC acquired a new stake in shares of Wolverine World Wide, Inc. (NYSE:WWW) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 80,226 shares of the textile maker’s stock, valued at approximately $1,781,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. acquired a new stake in Wolverine World Wide during the fourth quarter worth $64,943,000. JPMorgan Chase & Co. lifted its holdings in shares of Wolverine World Wide by 1,263.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,426,942 shares of the textile maker’s stock worth $24,857,000 after acquiring an additional 1,322,254 shares during the period. Jennison Associates LLC acquired a new stake in shares of Wolverine World Wide during the 3rd quarter valued at about $10,974,000. Jacobs Levy Equity Management Inc. increased its stake in Wolverine World Wide by 51.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 994,483 shares of the textile maker’s stock valued at $17,324,000 after acquiring an additional 335,669 shares during the period. Finally, Barclays PLC boosted its holdings in Wolverine World Wide by 767.1% during the third quarter. Barclays PLC now owns 250,830 shares of the textile maker’s stock valued at $4,368,000 after purchasing an additional 221,904 shares in the last quarter. 90.25% of the stock is owned by institutional investors and hedge funds.

Wolverine World Wide Stock Performance

Shares of Wolverine World Wide stock opened at $14.80 on Friday. The firm has a 50 day simple moving average of $20.94 and a 200 day simple moving average of $18.86. Wolverine World Wide, Inc. has a fifty-two week low of $9.06 and a fifty-two week high of $24.64. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.29 and a quick ratio of 0.77. The firm has a market cap of $1.19 billion, a P/E ratio of 26.91 and a beta of 1.88.

Wolverine World Wide (NYSE:WWW) last released its earnings results on Wednesday, February 19th. The textile maker reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. Wolverine World Wide had a return on equity of 26.81% and a net margin of 2.73%. The company had revenue of $494.70 million during the quarter, compared to analysts’ expectations of $485.74 million. During the same period last year, the firm earned ($0.30) EPS. The business’s revenue for the quarter was down 6.1% on a year-over-year basis. Sell-side analysts predict that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current fiscal year.

Wolverine World Wide Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.40 dividend on an annualized basis and a yield of 2.70%. Wolverine World Wide’s payout ratio is presently 72.73%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. UBS Group lowered their price target on Wolverine World Wide from $29.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Stifel Nicolaus upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating and increased their target price for the stock from $21.00 to $29.00 in a research report on Wednesday, December 11th. Robert W. Baird cut their price target on shares of Wolverine World Wide from $21.00 to $18.00 and set a “neutral” rating for the company in a report on Thursday, February 20th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $23.00 price objective on shares of Wolverine World Wide in a research note on Wednesday, February 19th. Finally, StockNews.com cut shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th. Four 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, Wolverine World Wide has an average rating of “Moderate Buy” and an average target price 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.