Russell Investments Group Ltd. Takes $8.91 Million Position in Wolverine World Wide, Inc. (NYSE:WWW)

Russell Investments Group Ltd. acquired a new stake in Wolverine World Wide, Inc. (NYSE:WWW) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 315,254 shares of the textile maker’s stock, valued at approximately $8,910,000. Russell Investments Group Ltd. owned approximately 0.37% of Wolverine World Wide as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in WWW. Amundi Pioneer Asset Management Inc. bought a new stake in shares of Wolverine World Wide in the 1st quarter valued at $3,282,000. Campbell & CO Investment Adviser LLC bought a new stake in Wolverine World Wide during the 2nd quarter valued at $1,010,000. Atwater Malick LLC increased its stake in Wolverine World Wide by 6.3% during the 2nd quarter. Atwater Malick LLC now owns 104,562 shares of the textile maker’s stock valued at $2,880,000 after purchasing an additional 6,176 shares in the last quarter. Diversified Trust Co increased its stake in Wolverine World Wide by 39.0% during the 2nd quarter. Diversified Trust Co now owns 10,239 shares of the textile maker’s stock valued at $282,000 after purchasing an additional 2,875 shares in the last quarter. Finally, Marathon Asset Management LLP increased its stake in Wolverine World Wide by 2.0% during the 2nd quarter. Marathon Asset Management LLP now owns 830,127 shares of the textile maker’s stock valued at $22,941,000 after purchasing an additional 16,010 shares in the last quarter. Institutional investors own 93.25% of the company’s stock.

Shares of WWW stock opened at $33.10 on Friday. The firm has a market capitalization of $2.67 billion, a PE ratio of 15.25 and a beta of 1.06. The firm has a fifty day simple moving average of $29.25 and a two-hundred day simple moving average of $28.43. The company has a current ratio of 1.14, a quick ratio of 0.64 and a debt-to-equity ratio of 0.73. Wolverine World Wide, Inc. has a 12 month low of $23.05 and a 12 month high of $39.72.

Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.05. The firm had revenue of $574.30 million for the quarter, compared to the consensus estimate of $575.97 million. Wolverine World Wide had a net margin of 7.51% and a return on equity of 22.50%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.62 EPS. On average, equities analysts predict that Wolverine World Wide, Inc. will post 2.25 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 2nd will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Tuesday, December 31st. Wolverine World Wide’s dividend payout ratio is 18.43%.

Wolverine World Wide declared that its board has initiated a share buyback program on Wednesday, September 11th that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the textile maker to repurchase up to 17.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

WWW has been the subject of a number of recent research reports. Stifel Nicolaus boosted their price target on shares of Wolverine World Wide from $36.00 to $37.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Telsey Advisory Group restated a “market perform” rating and set a $34.00 price target (down previously from $38.00) on shares of Wolverine World Wide in a research note on Monday, August 5th. DA Davidson restated a “buy” rating on shares of Wolverine World Wide in a research note on Monday, November 4th. Pivotal Research boosted their price target on shares of Wolverine World Wide from $30.00 to $32.00 and gave the company a “hold” rating in a research note on Friday, November 8th. Finally, ValuEngine upgraded shares of Wolverine World Wide from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. Wolverine World Wide currently has a consensus rating of “Hold” and an average target price of $36.60.

About Wolverine World Wide

Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories. The company operates through three segments: Wolverine Outdoor & Lifestyle Group, Wolverine Boston Group, and Wolverine Heritage Group. It offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; kids' footwear; industrial work boots and apparel; and uniform shoes and boots.

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Institutional Ownership by Quarter for Wolverine World Wide (NYSE:WWW)

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