rear wheel end shake '96 zj

I replaced the rear brake pads on my 1996 Zj laredo 6cyl (140k miles) yesterday. I noticed that both rear wheels have a bit of "end shake" if I grab the wheel (while the rear is on jackstands)and pull and push it moves in and out a bit, somewhere between 1/16" and 1/8". There is no up and down travel or wobble, just the in out movement.

My laymans guess would be worn bearings but I would expect bad bearings to cause some wobble. Is a bit of end shake acceptable in the rear or should I plan to replace the bearings?

Thanks and Best Regards,

Marcel