KLP Kapitalforvaltning AS Takes $355,000 Position in Wolverine World Wide, Inc. (NYSE:WWW)

KLP Kapitalforvaltning AS acquired a new stake in shares of Wolverine World Wide, Inc. (NYSE:WWW) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 16,000 shares of the textile maker’s stock, valued at approximately $355,000.

Several other hedge funds have also recently modified their holdings of the stock. AXQ Capital LP acquired a new position in Wolverine World Wide during the fourth quarter worth about $310,000. Hillsdale Investment Management Inc. purchased a new position in Wolverine World Wide during the fourth quarter worth about $4,317,000. Sei Investments Co. boosted its holdings in shares of Wolverine World Wide by 0.3% in the 4th quarter. Sei Investments Co. now owns 623,788 shares of the textile maker’s stock valued at $13,848,000 after purchasing an additional 1,941 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Wolverine World Wide by 14.3% in the 4th quarter. American Century Companies Inc. now owns 167,376 shares of the textile maker’s stock worth $3,716,000 after purchasing an additional 20,922 shares during the period. Finally, Harvest Fund Management Co. Ltd purchased a new position in Wolverine World Wide in the fourth quarter valued at approximately $566,000. 90.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on WWW. UBS Group reduced 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. Telsey Advisory Group reissued a “market perform” rating and issued a $23.00 price objective on shares of Wolverine World Wide in a report on Wednesday, February 19th. Stifel Nicolaus upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating and raised their price target for the stock from $21.00 to $29.00 in a research report on Wednesday, December 11th. StockNews.com lowered Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. Finally, Robert W. Baird cut their price target 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 analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Wolverine World Wide currently has a consensus rating of “Moderate Buy” and an average target price of $21.50.

Wolverine World Wide Trading Up 5.5 %

WWW opened at $11.73 on Friday. The firm has a market cap of $950.70 million, a PE ratio of 21.33 and a beta of 1.93. Wolverine World Wide, Inc. has a twelve month low of $9.07 and a twelve month high of $24.64. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.77 and a current ratio of 1.29. The firm’s fifty day moving average is $16.47 and its two-hundred day moving average is $18.94.

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

Wolverine World Wide Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 1st will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, April 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.41%. Wolverine World Wide’s dividend payout ratio (DPR) is currently 72.73%.

About Wolverine World Wide

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.