Principal Financial Group Inc. Purchases 11,667 Shares of Wolverine World Wide, Inc. (NYSE:WWW)

Principal Financial Group Inc. lifted its position in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 3.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 390,709 shares of the textile maker’s stock after purchasing an additional 11,667 shares during the period. Principal Financial Group Inc. owned 0.49% of Wolverine World Wide worth $8,674,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. KBC Group NV grew its holdings in Wolverine World Wide by 43.8% during the fourth quarter. KBC Group NV now owns 4,303 shares of the textile maker’s stock worth $96,000 after purchasing an additional 1,311 shares during the period. GAMMA Investing LLC boosted its stake in shares of Wolverine World Wide by 12.5% during the 4th quarter. GAMMA Investing LLC now owns 5,057 shares of the textile maker’s stock worth $112,000 after acquiring an additional 563 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Wolverine World Wide during the 3rd quarter worth approximately $113,000. HighTower Advisors LLC acquired a new position in shares of Wolverine World Wide during the 3rd quarter worth approximately $192,000. Finally, Aigen Investment Management LP bought a new stake in Wolverine World Wide in the 3rd quarter valued at $195,000. 90.25% of the stock is owned by institutional investors.

Wolverine World Wide Stock Performance

NYSE WWW opened at $14.80 on Friday. Wolverine World Wide, Inc. has a 12-month low of $9.06 and a 12-month high of $24.64. The firm has a 50-day moving average price of $20.94 and a two-hundred day moving average price of $18.91. The company has a market capitalization of $1.19 billion, a P/E ratio of 26.91 and a beta of 1.88. 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 (NYSE:WWW) last issued 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. Wolverine World Wide had a return on equity of 26.81% and a net margin of 2.73%. The business had revenue of $494.70 million during the quarter, compared to analysts’ expectations of $485.74 million. During the same period in the previous year, the company posted ($0.30) earnings per share. The firm’s revenue for the quarter was down 6.1% compared to the same quarter last year. Analysts anticipate that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current year.

Wolverine World Wide Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 1st will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend is Tuesday, April 1st. Wolverine World Wide’s payout ratio is currently 72.73%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Robert W. Baird reduced their price objective on shares of Wolverine World Wide from $21.00 to $18.00 and set a “neutral” rating for the company in a research report on Thursday, February 20th. Stifel Nicolaus raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating and lifted their target price for the stock from $21.00 to $29.00 in a report on Wednesday, December 11th. Telsey Advisory Group reiterated a “market perform” rating and issued a $23.00 price target on shares of Wolverine World Wide in a research note on Wednesday, February 19th. UBS Group cut their price objective on shares of Wolverine World Wide from $29.00 to $26.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Finally, StockNews.com downgraded Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $21.50.

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.