Pacer Advisors Inc. Invests $64.30 Million in Wolverine World Wide, Inc. (NYSE:WWW)

Pacer Advisors Inc. acquired a new stake in Wolverine World Wide, Inc. (NYSE:WWW) during the second quarter, according to its most recent 13F filing with the SEC. The fund acquired 4,755,532 shares of the textile maker’s stock, valued at approximately $64,295,000. Pacer Advisors Inc. owned 5.94% of Wolverine World Wide as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in shares of Wolverine World Wide by 42.5% in the first quarter. GAMMA Investing LLC now owns 4,504 shares of the textile maker’s stock valued at $50,000 after purchasing an additional 1,343 shares during the period. Canada Pension Plan Investment Board purchased a new position in Wolverine World Wide in the 2nd quarter valued at approximately $68,000. Central Pacific Bank Trust Division bought a new stake in Wolverine World Wide during the 1st quarter valued at $81,000. Natixis purchased a new stake in shares of Wolverine World Wide during the first quarter worth $112,000. Finally, Connable Office Inc. bought a new position in shares of Wolverine World Wide in the fourth quarter worth $137,000. 90.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Piper Sandler reiterated an “overweight” rating and set a $18.00 price objective on shares of Wolverine World Wide in a research note on Friday, August 23rd. Argus upgraded Wolverine World Wide to a “hold” rating in a research report on Friday, August 16th. UBS Group upgraded shares of Wolverine World Wide from a “neutral” rating to a “buy” rating and raised their price objective for the company from $13.00 to $20.00 in a research report on Friday, July 19th. Robert W. Baird upped their target price on shares of Wolverine World Wide from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $14.00 price target on shares of Wolverine World Wide in a report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $17.17.

Wolverine World Wide Trading Up 1.1 %

Shares of Wolverine World Wide stock opened at $15.35 on Friday. 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 1 year low of $7.21 and a 1 year high of $15.37. The firm has a market cap of $1.23 billion, a PE ratio of -16.51 and a beta of 1.76. The company has a 50 day simple moving average of $13.69 and a two-hundred day simple moving average of $12.47.

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

Wolverine World Wide Announces Dividend

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

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.