Engineers Gate Manager LP Acquires New Position in Wolverine World Wide, Inc. (WWW)

Engineers Gate Manager LP acquired a new stake in shares of Wolverine World Wide, Inc. (NYSE:WWW) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 11,629 shares of the textile maker’s stock, valued at approximately $371,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of WWW. Victory Capital Management Inc. raised its holdings in shares of Wolverine World Wide by 22.1% during the third quarter. Victory Capital Management Inc. now owns 2,903,558 shares of the textile maker’s stock worth $83,768,000 after purchasing an additional 525,150 shares during the period. State Street Corp raised its holdings in shares of Wolverine World Wide by 2.9% during the second quarter. State Street Corp now owns 2,382,061 shares of the textile maker’s stock worth $66,719,000 after purchasing an additional 67,591 shares during the period. Macquarie Group Ltd. raised its holdings in shares of Wolverine World Wide by 7.8% during the third quarter. Macquarie Group Ltd. now owns 1,817,903 shares of the textile maker’s stock worth $52,447,000 after purchasing an additional 131,157 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Wolverine World Wide by 12.8% during the third quarter. JPMorgan Chase & Co. now owns 1,686,193 shares of the textile maker’s stock worth $48,799,000 after purchasing an additional 191,771 shares during the period. Finally, Prudential Financial Inc. raised its holdings in shares of Wolverine World Wide by 30.1% during the third quarter. Prudential Financial Inc. now owns 1,501,962 shares of the textile maker’s stock worth $43,332,000 after purchasing an additional 347,340 shares during the period. Hedge funds and other institutional investors own 92.22% of the company’s stock.

Shares of Wolverine World Wide, Inc. (WWW) opened at $30.96 on Thursday. The company has a debt-to-equity ratio of 0.74, a current ratio of 3.09 and a quick ratio of 2.06. Wolverine World Wide, Inc. has a twelve month low of $23.34 and a twelve month high of $33.82. The firm has a market cap of $2,872.33, a PE ratio of 51.60, a P/E/G ratio of 1.19 and a beta of 0.92.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Monday, April 2nd will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Thursday, March 29th. This is a boost from Wolverine World Wide’s previous quarterly dividend of $0.06. Wolverine World Wide’s dividend payout ratio (DPR) is 40.00%.

In related news, Director Joseph R. Gromek sold 18,928 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $29.14, for a total value of $551,561.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 5.65% of the stock is owned by company insiders.

A number of analysts have weighed in on WWW shares. Stifel Nicolaus set a $34.00 target price on shares of Wolverine World Wide and gave the stock a “buy” rating in a report on Saturday, December 16th. TheStreet cut shares of Wolverine World Wide from a “b” rating to a “c+” rating in a report on Wednesday, November 8th. Piper Jaffray Companies reissued a “hold” rating and set a $25.00 target price on shares of Wolverine World Wide in a report on Wednesday, November 1st. Zacks Investment Research cut shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a report on Saturday, January 6th. Finally, Pivotal Research raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating and increased their target price for the stock from $32.00 to $33.00 in a report on Wednesday, November 8th. Eleven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $27.68.

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Wolverine World Wide Profile

Wolverine World Wide, Inc is a designer, manufacturer and marketer of a range of casual footwear and apparel, outdoor and athletic footwear and apparel, children’s footwear, industrial work boots and apparel, and uniform shoes and boots. It operates in four segments: Wolverine Outdoor & Lifestyle Group, which offers Merrell footwear and apparel, Cat footwear, Hush Puppies footwear and apparel, and Chaco footwear; Wolverine Boston Group, which offers Sperry footwear and apparel, Saucony footwear and apparel, and Keds footwear and apparel; Wolverine Heritage Group, which offers Wolverine footwear and apparel, Bates uniform footwear, Harley-Davidson footwear and HyTest safety footwear, and Wolverine Multi-Brand Group, which offers Stride Rite footwear and apparel, and its multi-brand consumer-direct businesses.

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Institutional Ownership by Quarter for Wolverine World Wide (NYSE:WWW)

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