OMERS ADMINISTRATION Corp Makes New $320,000 Investment in Wolverine World Wide, Inc. (NYSE:WWW)

OMERS ADMINISTRATION Corp bought a new position in Wolverine World Wide, Inc. (NYSE:WWW) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 14,400 shares of the textile maker’s stock, valued at approximately $320,000.

A number of other hedge funds have also added to or reduced their stakes in WWW. Barclays PLC increased its holdings in Wolverine World Wide by 767.1% in the third quarter. Barclays PLC now owns 250,830 shares of the textile maker’s stock worth $4,368,000 after purchasing an additional 221,904 shares in the last quarter. Sheets Smith Wealth Management acquired a new stake in Wolverine World Wide in the fourth quarter valued at approximately $273,000. KBC Group NV grew its stake in Wolverine World Wide by 43.8% in the fourth quarter. KBC Group NV now owns 4,303 shares of the textile maker’s stock valued at $96,000 after acquiring an additional 1,311 shares during the period. Pacer Advisors Inc. acquired a new stake in Wolverine World Wide in the fourth quarter valued at approximately $64,943,000. Finally, Savant Capital LLC acquired a new stake in Wolverine World Wide in the fourth quarter valued at approximately $205,000. 90.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on WWW. Telsey Advisory Group reissued a “market perform” rating and issued a $17.00 price objective on shares of Wolverine World Wide in a research note on Friday, May 9th. Robert W. Baird raised their price objective on Wolverine World Wide from $15.00 to $20.00 and gave the company an “outperform” rating in a research note on Tuesday, May 6th. Stifel Nicolaus reduced their price objective on Wolverine World Wide from $27.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Piper Sandler reduced their price objective on Wolverine World Wide from $27.00 to $18.00 and set an “overweight” rating for the company in a research note on Friday, April 11th. Finally, UBS Group raised their price objective on Wolverine World Wide from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, May 9th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Wolverine World Wide currently has an average rating of “Moderate Buy” and a consensus price target of $19.75.

Wolverine World Wide Stock Down 0.4%

Shares of NYSE:WWW opened at $17.05 on Tuesday. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of 31.00 and a beta of 1.62. The company has a quick ratio of 0.77, a current ratio of 1.29 and a debt-to-equity ratio of 1.79. Wolverine World Wide, Inc. has a 12-month low of $9.58 and a 12-month high of $24.64. The business’s 50 day moving average is $13.35 and its 200 day moving average is $18.21.

Wolverine World Wide (NYSE:WWW) last announced its earnings results on Thursday, May 8th. The textile maker reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.07. The company had revenue of $412.30 million for the quarter, compared to analysts’ expectations of $395.94 million. Wolverine World Wide had a return on equity of 26.81% and a net margin of 2.73%. Wolverine World Wide’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.11 earnings per share. On average, sell-side analysts forecast that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current fiscal year.

Wolverine World Wide Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Tuesday, July 1st will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $0.40 dividend on an annualized basis and a yield of 2.35%. Wolverine World Wide’s dividend payout ratio (DPR) is currently 45.98%.

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.