Massar Capital Management LP Purchases New Stake in Wolverine World Wide, Inc. (NYSE:WWW)

Massar Capital Management LP acquired a new position in shares of Wolverine World Wide, Inc. (NYSE:WWW) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 23,573 shares of the textile maker’s stock, valued at approximately $523,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Hsbc Holdings PLC lifted its position in shares of Wolverine World Wide by 142.4% in the 4th quarter. Hsbc Holdings PLC now owns 34,265 shares of the textile maker’s stock worth $764,000 after buying an additional 20,131 shares during the last quarter. State of Tennessee Department of Treasury raised its stake in Wolverine World Wide by 114.8% during the fourth quarter. State of Tennessee Department of Treasury now owns 43,567 shares of the textile maker’s stock worth $967,000 after acquiring an additional 23,287 shares during the period. MetLife Investment Management LLC lifted its holdings in Wolverine World Wide by 5.7% in the fourth quarter. MetLife Investment Management LLC now owns 48,582 shares of the textile maker’s stock worth $1,079,000 after acquiring an additional 2,634 shares during the last quarter. Natixis acquired a new position in Wolverine World Wide in the fourth quarter valued at approximately $41,000. Finally, Capital Research Global Investors bought a new position in shares of Wolverine World Wide during the fourth quarter valued at approximately $13,943,000. Institutional investors and hedge funds own 90.25% of the company’s stock.

Analyst Ratings Changes

WWW has been the subject of a number of analyst reports. Telsey Advisory Group restated a “market perform” rating and set a $23.00 price objective on shares of Wolverine World Wide in a research report on Wednesday, February 19th. Baird R W raised shares of Wolverine World Wide from a “hold” rating to a “strong-buy” rating in a report on Monday. UBS Group lowered their price target on shares of Wolverine World Wide from $29.00 to $26.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. StockNews.com downgraded shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. Finally, Robert W. Baird upgraded shares of Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $15.00 target price for the company in a research report on Monday. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $19.88.

Wolverine World Wide Stock Performance

Shares of NYSE WWW opened at $11.51 on Tuesday. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.77 and a current ratio of 1.29. The firm has a market cap of $932.71 million, a P/E ratio of 20.93 and a beta of 1.74. The stock has a fifty day moving average price of $13.67 and a two-hundred day moving average price of $18.44. Wolverine World Wide, Inc. has a 1 year low of $9.58 and a 1 year high of $24.64.

Wolverine World Wide (NYSE:WWW) last issued its quarterly 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 firm had revenue of $494.70 million for the quarter, compared to analysts’ expectations of $485.74 million. During the same period in the previous year, the business earned ($0.30) earnings per share. Wolverine World Wide’s revenue for the quarter was down 6.1% compared to the same quarter last year. Research analysts forecast that Wolverine World Wide, Inc. will post 1.23 EPS for the current fiscal year.

Wolverine World Wide Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 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 3.48%. The ex-dividend date is Tuesday, April 1st. Wolverine World Wide’s payout ratio is 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.