Prudential Financial Inc. Purchases 74,090 Shares of Wolverine World Wide, Inc. (NYSE:WWW)

Prudential Financial Inc. raised its position in Wolverine World Wide, Inc. (NYSE:WWW) by 16.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 521,935 shares of the textile maker’s stock after purchasing an additional 74,090 shares during the period. Prudential Financial Inc. owned 0.65% of Wolverine World Wide worth $11,587,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in WWW. Savant Capital LLC bought a new stake in Wolverine World Wide during the fourth quarter valued at $205,000. Pacer Advisors Inc. bought a new stake in shares of Wolverine World Wide during the 4th quarter valued at about $64,943,000. JPMorgan Chase & Co. grew its holdings in shares of Wolverine World Wide by 1,263.0% during the third 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 position in shares of Wolverine World Wide by 338.6% in the third quarter. XTX Topco Ltd now owns 47,346 shares of the textile maker’s stock worth $825,000 after purchasing an additional 36,551 shares during the last quarter. Finally, Amundi raised its stake in Wolverine World Wide by 161.5% in the fourth quarter. Amundi now owns 47,074 shares of the textile maker’s stock valued at $1,067,000 after purchasing an additional 29,072 shares in the last quarter. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Wolverine World Wide Price Performance

WWW opened at $13.75 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. Wolverine World Wide, Inc. has a 1 year low of $9.07 and a 1 year high of $24.64. The stock’s 50 day simple moving average is $17.44 and its 200 day simple moving average is $18.95. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of 25.00 and a beta of 1.93.

Wolverine World Wide (NYSE:WWW) last issued its earnings results on Wednesday, February 19th. The textile maker reported $0.42 EPS for the quarter, hitting 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 for the quarter, compared to the consensus estimate of $485.74 million. During the same period in the previous year, the firm earned ($0.30) earnings per share. The firm’s revenue for the quarter was down 6.1% on a year-over-year basis. As a group, analysts predict that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current year.

Wolverine World Wide Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.91%. Wolverine World Wide’s dividend payout ratio is currently 72.73%.

Wolverine World Wide 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.