Principal Financial Group Inc. Boosts Holdings in Wolverine World Wide, Inc. $WWW

Principal Financial Group Inc. raised its position in Wolverine World Wide, Inc. (NYSE:WWW) by 27.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 510,731 shares of the textile maker’s stock after purchasing an additional 108,703 shares during the period. Principal Financial Group Inc. owned 0.63% of Wolverine World Wide worth $14,014,000 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. AlphaQuest LLC raised its position in shares of Wolverine World Wide by 370.0% in the third quarter. AlphaQuest LLC now owns 3,257 shares of the textile maker’s stock worth $89,000 after buying an additional 2,564 shares in the last quarter. Alta Wealth Advisors LLC bought a new position in Wolverine World Wide in the 3rd quarter worth about $241,000. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Wolverine World Wide in the 3rd quarter valued at about $256,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Wolverine World Wide during the 3rd quarter valued at about $216,000. Finally, Covestor Ltd grew its holdings in shares of Wolverine World Wide by 16,025.0% during the third quarter. Covestor Ltd now owns 1,290 shares of the textile maker’s stock worth $35,000 after purchasing an additional 1,282 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

Several research analysts recently weighed in on the stock. KeyCorp decreased their price objective on shares of Wolverine World Wide from $32.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Argus reissued a “hold” rating on shares of Wolverine World Wide in a report on Friday, January 23rd. Robert W. Baird lowered their price objective on shares of Wolverine World Wide from $35.00 to $23.00 and set an “outperform” rating on the stock in a research report on Thursday, November 6th. BNP Paribas Exane downgraded shares of Wolverine World Wide from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $38.00 to $19.00 in a report on Thursday, January 22nd. Finally, Stifel Nicolaus set a $25.00 target price on Wolverine World Wide in a research note on Thursday, November 6th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $21.38.

Wolverine World Wide Trading Down 0.3%

Shares of WWW opened at $18.15 on Wednesday. Wolverine World Wide, Inc. has a fifty-two week low of $9.58 and a fifty-two week high of $32.80. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 17.45 and a beta of 1.91. The firm has a 50 day moving average price of $18.20 and a 200-day moving average price of $22.59. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.79 and a current ratio of 1.34.

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.