M&G PLC Takes Position in Wolverine World Wide, Inc. $WWW

M&G PLC purchased a new position in Wolverine World Wide, Inc. (NYSE:WWW) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 393,271 shares of the textile maker’s stock, valued at approximately $10,618,000. M&G PLC owned 0.48% of Wolverine World Wide as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Teacher Retirement System of Texas increased its holdings in Wolverine World Wide by 5.1% in the 2nd quarter. Teacher Retirement System of Texas now owns 12,300 shares of the textile maker’s stock valued at $222,000 after buying an additional 595 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of Wolverine World Wide by 1.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 58,586 shares of the textile maker’s stock worth $1,059,000 after acquiring an additional 599 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in Wolverine World Wide by 1.3% in the second quarter. Thrivent Financial for Lutherans now owns 59,742 shares of the textile maker’s stock valued at $1,074,000 after acquiring an additional 782 shares during the last quarter. Amalgamated Bank raised its position in Wolverine World Wide by 3.5% during the third quarter. Amalgamated Bank now owns 23,831 shares of the textile maker’s stock valued at $654,000 after purchasing an additional 799 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey lifted its stake in Wolverine World Wide by 5.6% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 18,073 shares of the textile maker’s stock worth $327,000 after purchasing an additional 961 shares during the last quarter. Institutional investors own 90.25% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on WWW shares. Robert W. Baird decreased their price target on Wolverine World Wide from $35.00 to $23.00 and set an “outperform” rating on the stock in a research note on Thursday, November 6th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Wolverine World Wide in a research report on Monday, December 29th. Zacks Research cut shares of Wolverine World Wide from a “hold” rating to a “strong sell” rating in a report on Friday, January 2nd. UBS Group dropped their target price on shares of Wolverine World Wide from $28.00 to $26.00 and set a “buy” rating for the company in a report on Thursday, January 8th. Finally, Argus reaffirmed a “hold” rating on shares of Wolverine World Wide in a report on Friday, January 23rd. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $21.38.

Wolverine World Wide Stock Performance

Shares of WWW stock opened at $17.62 on Tuesday. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 16.94 and a beta of 1.91. The company has a current ratio of 1.34, a quick ratio of 0.79 and a debt-to-equity ratio of 1.40. The business’s 50-day moving average price is $18.23 and its 200-day moving average price is $22.44. Wolverine World Wide, Inc. has a 12 month low of $9.58 and a 12 month high of $32.80.

Wolverine World Wide Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Wednesday, April 1st will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $0.40 annualized dividend and a dividend yield of 2.3%. Wolverine World Wide’s dividend payout ratio (DPR) is presently 38.46%.

About Wolverine World Wide

Wolverine World Wide, Inc (NYSE: WWW) is a global footwear and apparel company headquartered in Rockford, Michigan. The company designs, manufactures and markets a diversified portfolio of casual, active and performance lifestyle brands. Wolverine World Wide’s offerings span multiple price points and consumer segments, with products that include outdoor and trail footwear, running shoes, casual sneakers, boat shoes, work boots and related apparel and accessories.

Key brands in Wolverine World Wide’s portfolio include Merrell, an outdoor performance footwear brand; Saucony, known for running shoes and athletic gear; Sperry, which popularized boat shoes; Hush Puppies, a casual and comfort‐oriented line; and Keds, a heritage sneaker label.