Driehaus Capital Management LLC Boosts Stock Holdings in Wolverine World Wide, Inc. (NYSE:WWW)

Driehaus Capital Management LLC grew its stake in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 135.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 593,693 shares of the textile maker’s stock after buying an additional 341,601 shares during the period. Driehaus Capital Management LLC’s holdings in Wolverine World Wide were worth $13,180,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC lifted its position in Wolverine World Wide by 2.2% during the fourth quarter. FMR LLC now owns 11,766,527 shares of the textile maker’s stock valued at $261,217,000 after buying an additional 249,456 shares in the last quarter. Earnest Partners LLC raised its stake in shares of Wolverine World Wide by 0.4% in the 4th quarter. Earnest Partners LLC now owns 5,228,918 shares of the textile maker’s stock valued at $116,082,000 after acquiring an additional 19,295 shares during the period. Pacer Advisors Inc. acquired a new position in shares of Wolverine World Wide during the 4th quarter valued at $64,943,000. JPMorgan Chase & Co. boosted its position in Wolverine World Wide by 70.0% during the 4th quarter. JPMorgan Chase & Co. now owns 2,425,858 shares of the textile maker’s stock worth $53,854,000 after purchasing an additional 998,916 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Wolverine World Wide by 5.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,670,760 shares of the textile maker’s stock valued at $37,091,000 after purchasing an additional 86,475 shares in the last quarter. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Wolverine World Wide Stock Down 6.3 %

WWW stock opened at $15.29 on Friday. The company has a current ratio of 1.29, a quick ratio of 0.77 and a debt-to-equity ratio of 1.79. The firm has a 50 day simple moving average of $13.01 and a 200-day simple moving average of $18.13. The company has a market capitalization of $1.24 billion, a P/E ratio of 27.80 and a beta of 1.62. Wolverine World Wide, Inc. has a twelve month low of $9.58 and a twelve month high of $24.64.

Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings data on Thursday, May 8th. The textile maker reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.07. The company had revenue of $412.30 million during the quarter, compared to analyst estimates of $395.94 million. Wolverine World Wide had a net margin of 2.73% and a return on equity of 26.81%. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period last year, the business earned $0.11 EPS. On average, equities research analysts predict that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current fiscal year.

Wolverine World Wide Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 1st will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date is Tuesday, July 1st. Wolverine World Wide’s dividend payout ratio is presently 72.73%.

Analysts Set New Price Targets

A number of brokerages have commented on WWW. Baird R W upgraded Wolverine World Wide from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 21st. Telsey Advisory Group reissued a “market perform” rating and set a $17.00 price target on shares of Wolverine World Wide in a research report on Friday. Stifel Nicolaus lowered their price objective on shares of Wolverine World Wide from $27.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Robert W. Baird lifted their price objective on shares of Wolverine World Wide from $15.00 to $20.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, StockNews.com downgraded shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Wolverine World Wide presently has a consensus rating of “Moderate Buy” and an average target price of $19.71.

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.