CenterBook Partners LP Purchases New Holdings in Wolverine World Wide, Inc. (NYSE:WWW)

CenterBook Partners LP acquired a new position in Wolverine World Wide, Inc. (NYSE:WWW) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 22,037 shares of the textile maker’s stock, valued at approximately $489,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new position in shares of Wolverine World Wide in the 4th quarter worth about $25,000. Signaturefd LLC raised its holdings in Wolverine World Wide by 88.8% in the fourth quarter. Signaturefd LLC now owns 1,450 shares of the textile maker’s stock worth $32,000 after buying an additional 682 shares during the last quarter. KBC Group NV lifted its stake in shares of Wolverine World Wide by 43.8% in the fourth quarter. KBC Group NV now owns 4,303 shares of the textile maker’s stock worth $96,000 after buying an additional 1,311 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Wolverine World Wide by 12.5% during the fourth 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 stake in shares of Wolverine World Wide during the third quarter valued at approximately $113,000. Institutional investors own 90.25% of the company’s stock.

Wolverine World Wide Price Performance

NYSE WWW opened at $11.08 on Friday. The company has a 50-day moving average price of $14.84 and a 200-day moving average price of $18.71. The company has a quick ratio of 0.77, a current ratio of 1.29 and a debt-to-equity ratio of 1.79. The firm has a market capitalization of $897.46 million, a P/E ratio of 20.14 and a beta of 1.74. Wolverine World Wide, Inc. has a 52 week low of $9.07 and a 52 week high of $24.64.

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

Wolverine World Wide Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 1st will be paid a $0.10 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.61%. Wolverine World Wide’s dividend payout ratio (DPR) is presently 72.73%.

Analyst Ratings Changes

WWW has been the topic of several analyst reports. Robert W. Baird lowered their price objective on Wolverine World Wide from $21.00 to $18.00 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. StockNews.com cut Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. Telsey Advisory Group reiterated a “market perform” rating and issued a $23.00 price objective on shares of Wolverine World Wide in a report on Wednesday, February 19th. Piper Sandler lowered their target price on shares of Wolverine World Wide from $27.00 to $18.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, UBS Group reduced their price target on shares of Wolverine World Wide from $29.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Wolverine World Wide currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.25.

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.