Raymond James Financial Inc. Makes New Investment in Wolverine World Wide, Inc. (NYSE:WWW)

Raymond James Financial Inc. bought a new stake in Wolverine World Wide, Inc. (NYSE:WWW) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 131,272 shares of the textile maker’s stock, valued at approximately $2,914,000. Raymond James Financial Inc. owned about 0.16% of Wolverine World Wide as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of WWW. Savant Capital LLC purchased a new stake in shares of Wolverine World Wide in the fourth quarter valued at about $205,000. Pacer Advisors Inc. acquired a new stake in Wolverine World Wide in the fourth quarter valued at about $64,943,000. JPMorgan Chase & Co. boosted its position in shares of Wolverine World Wide by 1,263.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,426,942 shares of the textile maker’s stock worth $24,857,000 after purchasing an additional 1,322,254 shares in the last quarter. XTX Topco Ltd increased its holdings in Wolverine World Wide by 338.6% in the third quarter. XTX Topco Ltd now owns 47,346 shares of the textile maker’s stock valued at $825,000 after buying an additional 36,551 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in Wolverine World Wide by 240.0% during the fourth quarter. Victory Capital Management Inc. now owns 257,734 shares of the textile maker’s stock worth $5,722,000 after purchasing an additional 181,935 shares in the last quarter. 90.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Wolverine World Wide Trading Down 2.9 %

Wolverine World Wide stock opened at $13.75 on Friday. The company has a market cap of $1.11 billion, a P/E ratio of 25.00 and a beta of 1.93. Wolverine World Wide, Inc. has a 1 year low of $9.07 and a 1 year high of $24.64. The firm’s 50-day moving average is $17.44 and its 200-day moving average is $18.95. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.77 and a current ratio of 1.29.

Wolverine World Wide (NYSE:WWW) last announced 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 net margin of 2.73% and a return on equity of 26.81%. The company had revenue of $494.70 million during the quarter, compared to the consensus estimate of $485.74 million. During the same quarter in the previous year, the company posted ($0.30) earnings per share. The company’s revenue for the quarter was down 6.1% compared to the same quarter last year. On average, equities analysts expect that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current year.

Wolverine World Wide Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 1st will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.91%. The ex-dividend date is Tuesday, April 1st. Wolverine World Wide’s dividend payout ratio (DPR) is presently 72.73%.

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.