Oppenheimer Asset Management Inc. Purchases 6,624 Shares of Wolverine World Wide, Inc. (NYSE:WWW)

Oppenheimer Asset Management Inc. lifted its position in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 4.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 153,754 shares of the textile maker’s stock after acquiring an additional 6,624 shares during the period. Oppenheimer Asset Management Inc. owned approximately 0.19% of Wolverine World Wide worth $2,139,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in WWW. JPMorgan Chase & Co. lifted its holdings in shares of 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 acquiring an additional 998,916 shares during the period. Capital Research Global Investors bought a new stake in shares of Wolverine World Wide during the 4th quarter worth approximately $13,943,000. Nuveen Asset Management LLC lifted its holdings in shares of Wolverine World Wide by 179.1% during the 4th quarter. Nuveen Asset Management LLC now owns 628,338 shares of the textile maker’s stock worth $13,949,000 after acquiring an additional 403,176 shares during the period. First Trust Advisors LP bought a new stake in shares of Wolverine World Wide during the 4th quarter worth approximately $7,862,000. Finally, Driehaus Capital Management LLC lifted its holdings in shares of Wolverine World Wide by 135.5% during the 4th quarter. Driehaus Capital Management LLC now owns 593,693 shares of the textile maker’s stock worth $13,180,000 after acquiring an additional 341,601 shares during the period. Institutional investors own 90.25% of the company’s stock.

Wolverine World Wide Trading Up 2.5%

Shares of NYSE WWW opened at $18.29 on Friday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.77 and a current ratio of 1.26. Wolverine World Wide, Inc. has a 52-week low of $9.58 and a 52-week high of $24.64. The firm has a 50 day moving average price of $16.04 and a two-hundred day moving average price of $17.40. The stock has a market cap of $1.48 billion, a P/E ratio of 21.03 and a beta of 1.71.

Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings data on Thursday, May 8th. The textile maker reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.07. Wolverine World Wide had a net margin of 4.15% and a return on equity of 28.74%. The company had revenue of $412.30 million for the quarter, compared to analyst estimates of $395.94 million. During the same period in the prior year, the firm posted $0.11 EPS. The company’s quarterly revenue was up 4.4% on a year-over-year basis. As a group, equities analysts forecast that Wolverine World Wide, Inc. will post 1.23 EPS for the current year.

Wolverine World Wide Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Tuesday, July 1st will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date is Tuesday, July 1st. Wolverine World Wide’s dividend payout ratio is currently 45.98%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on WWW. Argus raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Friday, May 16th. Baird R W upgraded shares of Wolverine World Wide from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 21st. 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. UBS Group upped their price objective on shares of Wolverine World Wide from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Finally, Robert W. Baird upped their price objective on shares of Wolverine World Wide from $15.00 to $20.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 6th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $19.75.

Wolverine World Wide Company 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.