Geode Capital Management LLC Has $39.64 Million Stake in Wolverine World Wide, Inc. (NYSE:WWW)

Geode Capital Management LLC reduced its position in Wolverine World Wide, Inc. (NYSE:WWW) by 0.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,785,336 shares of the textile maker’s stock after selling 6,453 shares during the period. Geode Capital Management LLC’s holdings in Wolverine World Wide were worth $39,644,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. SBI Securities Co. Ltd. purchased a new position in Wolverine World Wide during the 4th quarter worth $25,000. Signaturefd LLC boosted its holdings in Wolverine World Wide by 88.8% during the fourth quarter. Signaturefd LLC now owns 1,450 shares of the textile maker’s stock worth $32,000 after purchasing an additional 682 shares during the last quarter. KBC Group NV grew its position in Wolverine World Wide by 43.8% in the 4th quarter. KBC Group NV now owns 4,303 shares of the textile maker’s stock worth $96,000 after purchasing an additional 1,311 shares in the last quarter. GAMMA Investing LLC increased its stake in Wolverine World Wide by 12.5% in the 4th quarter. GAMMA Investing LLC now owns 5,057 shares of the textile maker’s stock valued at $112,000 after buying an additional 563 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Wolverine World Wide during the 3rd quarter worth approximately $113,000. Institutional investors and hedge funds own 90.25% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on WWW shares. Stifel Nicolaus decreased their target price on Wolverine World Wide from $27.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Robert W. Baird reduced their target price on shares of Wolverine World Wide from $21.00 to $18.00 and set a “neutral” rating for the company in a research report on Thursday, February 20th. Telsey Advisory Group reissued a “market perform” rating and issued a $23.00 target price on shares of Wolverine World Wide in a research report on Wednesday, February 19th. Piper Sandler dropped their price target on Wolverine World Wide from $27.00 to $18.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. Finally, UBS Group decreased their price objective on Wolverine World Wide from $29.00 to $26.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $20.25.

Wolverine World Wide Stock Down 2.9 %

Shares of NYSE:WWW opened at $10.74 on Wednesday. Wolverine World Wide, Inc. has a 12-month low of $9.15 and a 12-month high of $24.64. The company has a current ratio of 1.29, a quick ratio of 0.77 and a debt-to-equity ratio of 1.79. The stock’s 50-day moving average price is $14.41 and its 200-day moving average price is $18.62. The stock has a market capitalization of $869.91 million, a P/E ratio of 19.52 and a beta of 1.74.

Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings results on Wednesday, February 19th. The textile maker reported $0.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $485.74 million. During the same quarter last year, the firm earned ($0.30) EPS. The company’s revenue was down 6.1% on a year-over-year basis. On average, equities analysts anticipate that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current year.

Wolverine World Wide Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 1st will be issued 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 dividend yield of 3.73%. Wolverine World Wide’s dividend payout ratio (DPR) is 72.73%.

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.