Counterpoint Mutual Funds LLC Purchases New Shares in Wolverine World Wide, Inc. $WWW

Counterpoint Mutual Funds LLC purchased a new position in shares of Wolverine World Wide, Inc. (NYSE:WWW) during the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 31,341 shares of the textile maker’s stock, valued at approximately $860,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Canada boosted its stake in shares of Wolverine World Wide by 295.7% in the 1st quarter. Royal Bank of Canada now owns 33,055 shares of the textile maker’s stock worth $460,000 after buying an additional 24,701 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Wolverine World Wide by 5.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,480 shares of the textile maker’s stock worth $660,000 after acquiring an additional 2,321 shares during the period. Goldman Sachs Group Inc. boosted its position in Wolverine World Wide by 55.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,504,571 shares of the textile maker’s stock worth $20,929,000 after purchasing an additional 537,854 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Wolverine World Wide by 13.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 227,688 shares of the textile maker’s stock valued at $3,167,000 after purchasing an additional 26,870 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in shares of Wolverine World Wide by 1.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 58,586 shares of the textile maker’s stock valued at $1,059,000 after purchasing an additional 599 shares during the last quarter. 90.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on WWW shares. UBS Group cut their price target on shares of Wolverine World Wide from $28.00 to $26.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. Robert W. Baird dropped their target price on shares of Wolverine World Wide from $35.00 to $23.00 and set an “outperform” rating on the stock in a research note on Thursday, November 6th. BNP Paribas Exane downgraded shares of Wolverine World Wide from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $38.00 to $19.00 in a research report on Thursday, January 22nd. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $18.00 price target on shares of Wolverine World Wide in a report on Friday. Finally, Piper Sandler downgraded Wolverine World Wide from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $22.00 to $16.00 in a research note on Wednesday, January 7th. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $21.38.

Wolverine World Wide Trading Down 4.6%

NYSE:WWW opened at $17.32 on Tuesday. Wolverine World Wide, Inc. has a 1 year low of $9.58 and a 1 year high of $32.80. The stock’s fifty day moving average price is $18.21 and its two-hundred day moving average price is $22.20. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.34 and a quick ratio of 0.79. The company has a market cap of $1.42 billion, a P/E ratio of 16.66 and a beta of 1.91.

Wolverine World Wide Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Wednesday, April 1st will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $0.40 dividend on an annualized basis and a yield of 2.3%. Wolverine World Wide’s dividend payout ratio is 38.46%.

Wolverine World Wide Profile

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.