MQS Management LLC Acquires New Holdings in Wolverine World Wide, Inc. (NYSE:WWW)

MQS Management LLC bought a new stake in Wolverine World Wide, Inc. (NYSE:WWW) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 12,081 shares of the textile maker’s stock, valued at approximately $163,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WWW. GAMMA Investing LLC lifted its stake in shares of Wolverine World Wide by 42.5% in the 1st quarter. GAMMA Investing LLC now owns 4,504 shares of the textile maker’s stock worth $50,000 after acquiring an additional 1,343 shares during the period. Central Pacific Bank Trust Division bought a new position in Wolverine World Wide during the 1st quarter valued at $81,000. Natixis bought a new position in Wolverine World Wide during the 1st quarter valued at $112,000. Connable Office Inc. acquired a new position in shares of Wolverine World Wide during the 4th quarter valued at $137,000. Finally, EntryPoint Capital LLC bought a new stake in shares of Wolverine World Wide in the 1st quarter worth $141,000. Institutional investors own 90.25% of the company’s stock.

Wolverine World Wide Stock Performance

Shares of WWW opened at $15.35 on Friday. The company has a 50-day moving average of $13.69 and a two-hundred day moving average of $12.47. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of -16.51 and a beta of 1.76. The company has a debt-to-equity ratio of 2.14, a current ratio of 1.19 and a quick ratio of 0.74. Wolverine World Wide, Inc. has a one year low of $7.21 and a one year high of $15.37.

Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings data on Wednesday, August 7th. The textile maker reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.05. Wolverine World Wide had a negative net margin of 4.42% and a negative return on equity of 0.34%. The firm had revenue of $425.40 million during the quarter, compared to analyst estimates of $411.20 million. During the same quarter last year, the business posted $0.19 EPS. The company’s revenue was down 27.8% on a year-over-year basis. On average, equities research analysts expect that Wolverine World Wide, Inc. will post 0.85 earnings per share for the current year.

Wolverine World Wide Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 1st will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend is Tuesday, October 1st. Wolverine World Wide’s payout ratio is -43.01%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on WWW. Robert W. Baird raised their target price on Wolverine World Wide from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. KeyCorp upgraded shares of Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 price objective for the company in a research report on Thursday, August 8th. Telsey Advisory Group reiterated a “market perform” rating and issued a $14.00 target price on shares of Wolverine World Wide in a report on Wednesday, August 7th. Argus upgraded shares of Wolverine World Wide to a “hold” rating in a report on Friday, August 16th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $18.00 price target on shares of Wolverine World Wide in a report on Friday, August 23rd. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Wolverine World Wide presently has an average rating of “Moderate Buy” and a consensus price target of $17.17.

Wolverine World Wide Company 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.