Wolverine World Wide, Inc. (NYSE:WWW) Shares Purchased by Readystate Asset Management LP

Readystate Asset Management LP boosted its position in Wolverine World Wide, Inc. (NYSE:WWW) by 26.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 311,807 shares of the textile maker’s stock after acquiring an additional 65,546 shares during the quarter. Readystate Asset Management LP’s holdings in Wolverine World Wide were worth $2,772,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Quarry LP purchased a new position in Wolverine World Wide in the second quarter valued at about $43,000. Tower Research Capital LLC TRC increased its holdings in Wolverine World Wide by 126.3% in the second quarter. Tower Research Capital LLC TRC now owns 2,969 shares of the textile maker’s stock valued at $44,000 after buying an additional 1,657 shares in the last quarter. GAMMA Investing LLC purchased a new position in Wolverine World Wide in the fourth quarter valued at about $26,000. UBS Group AG increased its holdings in Wolverine World Wide by 114.9% in the third quarter. UBS Group AG now owns 6,315 shares of the textile maker’s stock valued at $97,000 after buying an additional 3,376 shares in the last quarter. Finally, First Republic Investment Management Inc. purchased a new position in Wolverine World Wide in the second quarter valued at about $203,000. Institutional investors and hedge funds own 90.25% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $10.00 target price on shares of Wolverine World Wide in a report on Wednesday, February 21st. One analyst has rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $10.63.

Wolverine World Wide Price Performance

Shares of WWW traded down $0.17 during mid-day trading on Wednesday, reaching $9.42. 550,251 shares of the company’s stock were exchanged, compared to its average volume of 862,733. The company has a quick ratio of 0.75, a current ratio of 1.18 and a debt-to-equity ratio of 2.02. The company has a 50-day simple moving average of $9.83 and a two-hundred day simple moving average of $8.97. Wolverine World Wide, Inc. has a 52-week low of $7.21 and a 52-week high of $17.85. The company has a market cap of $752.75 million, a price-to-earnings ratio of -18.47 and a beta of 1.75.

Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings data on Wednesday, February 21st. The textile maker reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.03). Wolverine World Wide had a positive return on equity of 1.45% and a negative net margin of 1.77%. The business had revenue of $526.70 million for the quarter, compared to analysts’ expectations of $520.12 million. During the same period last year, the business earned ($0.15) earnings per share. The company’s revenue for the quarter was down 20.8% on a year-over-year basis. On average, sell-side analysts predict that Wolverine World Wide, Inc. will post 0.77 EPS for the current fiscal year.

Wolverine World Wide Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 1st will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.25%. Wolverine World Wide’s dividend payout ratio (DPR) is presently -78.43%.

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.