JPMorgan Chase & Co. Has $24.86 Million Position in Wolverine World Wide, Inc. (NYSE:WWW)

JPMorgan Chase & Co. raised its position in Wolverine World Wide, Inc. (NYSE:WWW) by 1,263.0% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 1,426,942 shares of the textile maker’s stock after buying an additional 1,322,254 shares during the period. JPMorgan Chase & Co. owned about 1.78% of Wolverine World Wide worth $24,857,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Texas Permanent School Fund Corp lifted its stake in shares of Wolverine World Wide by 40.3% during the second quarter. Texas Permanent School Fund Corp now owns 97,073 shares of the textile maker’s stock valued at $1,312,000 after acquiring an additional 27,905 shares during the period. ClariVest Asset Management LLC acquired a new position in Wolverine World Wide during the 2nd quarter valued at about $1,057,000. American Century Companies Inc. boosted its stake in shares of Wolverine World Wide by 31.2% in the 2nd quarter. American Century Companies Inc. now owns 104,942 shares of the textile maker’s stock valued at $1,419,000 after purchasing an additional 24,969 shares during the last quarter. Federated Hermes Inc. grew its position in shares of Wolverine World Wide by 10,607.4% during the 2nd quarter. Federated Hermes Inc. now owns 540,402 shares of the textile maker’s stock worth $7,306,000 after buying an additional 535,355 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its stake in shares of Wolverine World Wide by 27.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 138,283 shares of the textile maker’s stock worth $1,870,000 after buying an additional 29,691 shares during the last quarter. 90.25% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Amy M. Klimek sold 24,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $22.07, for a total transaction of $529,680.00. Following the completion of the transaction, the insider now directly owns 20,238 shares of the company’s stock, valued at $446,652.66. This trade represents a 54.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.28% of the company’s stock.

Wall Street Analyst Weigh In

WWW has been the subject of a number of analyst reports. 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. StockNews.com downgraded Wolverine World Wide from a “buy” rating to a “hold” rating in a report on Friday, January 3rd. Telsey Advisory Group restated a “market perform” rating and set a $15.00 target price on shares of Wolverine World Wide in a report on Thursday, November 7th. Finally, BNP Paribas raised Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 price target for the company in a research note on Thursday, October 3rd. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.38.

Wolverine World Wide Price Performance

NYSE WWW opened at $22.76 on Wednesday. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.77 and a current ratio of 1.23. Wolverine World Wide, Inc. has a 52-week low of $7.87 and a 52-week high of $24.64. The business has a 50 day simple moving average of $21.76 and a 200 day simple moving average of $17.00. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of -25.57 and a beta of 1.88.

Wolverine World Wide Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 2nd will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend is Thursday, January 2nd. Wolverine World Wide’s payout ratio is presently -44.94%.

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.