Harvest Fund Management Co. Ltd Buys New Shares in Wolverine World Wide, Inc. (NYSE:WWW)

Harvest Fund Management Co. Ltd bought a new stake in Wolverine World Wide, Inc. (NYSE:WWW) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 25,513 shares of the textile maker’s stock, valued at approximately $566,000.

A number of other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in Wolverine World Wide by 12.5% in the fourth quarter. GAMMA Investing LLC now owns 5,057 shares of the textile maker’s stock valued at $112,000 after acquiring an additional 563 shares during the last quarter. HighTower Advisors LLC increased its stake in Wolverine World Wide by 5.2% in the fourth quarter. HighTower Advisors LLC now owns 11,526 shares of the textile maker’s stock valued at $256,000 after acquiring an additional 574 shares during the last quarter. Signaturefd LLC increased its stake in Wolverine World Wide by 88.8% in the fourth quarter. Signaturefd LLC now owns 1,450 shares of the textile maker’s stock valued at $32,000 after acquiring an additional 682 shares during the last quarter. Natixis Advisors LLC increased its stake in Wolverine World Wide by 3.8% in the fourth quarter. Natixis Advisors LLC now owns 28,608 shares of the textile maker’s stock valued at $635,000 after acquiring an additional 1,035 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in Wolverine World Wide in the fourth quarter valued at $25,000. Institutional investors own 90.25% of the company’s stock.

Wolverine World Wide Stock Down 1.5 %

NYSE WWW opened at $13.78 on Friday. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.29 and a quick ratio of 0.77. The stock has a market capitalization of $1.11 billion, a PE ratio of 25.06 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 business’s 50-day moving average is $18.49 and its 200 day moving average is $18.93.

Wolverine World Wide (NYSE:WWW) last posted its earnings results on Wednesday, February 19th. The textile maker reported $0.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.42. The company had revenue of $494.70 million for the quarter, compared to analysts’ expectations of $485.74 million. Wolverine World Wide had a return on equity of 26.81% and a net margin of 2.73%. Wolverine World Wide’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period last year, the firm earned ($0.30) earnings per share. Sell-side analysts forecast 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 disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 1st will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.40 annualized dividend and a yield of 2.90%. Wolverine World Wide’s dividend payout ratio (DPR) is presently 72.73%.

Analyst Upgrades and Downgrades

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