Voya Investment Management LLC Decreases Holdings in Wolverine World Wide, Inc. (NYSE:WWW)

Voya Investment Management LLC lowered its position in Wolverine World Wide, Inc. (NYSE:WWW) by 8.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 23,835 shares of the textile maker’s stock after selling 2,062 shares during the period. Voya Investment Management LLC’s holdings in Wolverine World Wide were worth $529,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Barclays PLC boosted its stake in shares of Wolverine World Wide by 767.1% in the 3rd quarter. Barclays PLC now owns 250,830 shares of the textile maker’s stock valued at $4,368,000 after purchasing an additional 221,904 shares in the last quarter. GAMMA Investing LLC boosted its position in 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 period. Sheets Smith Wealth Management bought a new position in shares of Wolverine World Wide during the fourth quarter valued at about $273,000. KBC Group NV increased its holdings 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 during the period. Finally, Pacer Advisors Inc. bought a new stake in shares of Wolverine World Wide in the 4th quarter valued at about $64,943,000. 90.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on WWW shares. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $17.00 price target on shares of Wolverine World Wide in a research note on Friday. Piper Sandler decreased 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, April 11th. StockNews.com cut shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. UBS Group boosted their price objective on shares of Wolverine World Wide from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Friday. Finally, Robert W. Baird increased their target price on shares of Wolverine World Wide from $15.00 to $20.00 and gave the stock an “outperform” rating in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.71.

Wolverine World Wide Price Performance

Shares of NYSE WWW opened at $15.29 on Friday. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.29 and a quick ratio of 0.77. Wolverine World Wide, Inc. has a 1 year low of $9.58 and a 1 year high of $24.64. The company’s 50-day moving average is $13.01 and its 200 day moving average is $18.13. The stock has a market capitalization of $1.24 billion, a P/E ratio of 27.80 and a beta of 1.62.

Wolverine World Wide (NYSE:WWW) last released its earnings results on Thursday, May 8th. The textile maker reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.07. The company had revenue of $412.30 million during 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%. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.11 EPS. On average, sell-side analysts expect that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current year.

Wolverine World Wide Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Tuesday, July 1st will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date is Tuesday, July 1st. Wolverine World Wide’s dividend payout ratio is presently 72.73%.

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.