Prudential Financial Inc. increased its stake in Wolverine World Wide, Inc. (NYSE:WWW) by 30.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,501,962 shares of the textile maker’s stock after purchasing an additional 347,340 shares during the quarter. Prudential Financial Inc. owned 1.55% of Wolverine World Wide worth $43,332,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Bank of Montreal Can boosted its holdings in Wolverine World Wide by 1.3% in the second quarter. Bank of Montreal Can now owns 4,904 shares of the textile maker’s stock worth $138,000 after purchasing an additional 64 shares during the last quarter. Everence Capital Management Inc. purchased a new stake in Wolverine World Wide in the second quarter worth approximately $202,000. Papp L Roy & Associates purchased a new stake in Wolverine World Wide in the second quarter worth approximately $204,000. Riverhead Capital Management LLC boosted its holdings in Wolverine World Wide by 62.2% in the second quarter. Riverhead Capital Management LLC now owns 7,625 shares of the textile maker’s stock worth $214,000 after purchasing an additional 2,925 shares during the last quarter. Finally, Teacher Retirement System of Texas purchased a new stake in Wolverine World Wide in the second quarter worth approximately $221,000. Institutional investors own 91.41% of the company’s stock.
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WWW has been the topic of several research reports. KeyCorp restated a “hold” rating on shares of Wolverine World Wide in a report on Wednesday, October 11th. Robert W. Baird reiterated a “buy” rating and set a $32.00 price target on shares of Wolverine World Wide in a research note on Sunday, September 17th. Morgan Stanley lifted their price target on shares of Wolverine World Wide from $22.50 to $24.50 and gave the stock an “equal weight” rating in a research note on Monday, September 25th. ValuEngine cut shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $26.00 price target on shares of Wolverine World Wide in a research note on Wednesday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $25.65.
Shares of Wolverine World Wide, Inc. (NYSE:WWW) opened at $27.75 on Friday. The company has a market cap of $2,655.15, a price-to-earnings ratio of 17.79, a PEG ratio of 1.36 and a beta of 0.94. Wolverine World Wide, Inc. has a 52-week low of $20.94 and a 52-week high of $29.62. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.95 and a current ratio of 3.09.
Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings data on Wednesday, November 8th. The textile maker reported $0.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.06. The firm had revenue of $581.30 million for the quarter, compared to the consensus estimate of $552.36 million. Wolverine World Wide had a net margin of 2.35% and a return on equity of 15.25%. The company’s revenue was down 3.7% on a year-over-year basis. During the same period last year, the firm earned $0.49 EPS. analysts anticipate that Wolverine World Wide, Inc. will post 1.63 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Tuesday, January 2nd will be given a dividend of $0.06 per share. The ex-dividend date is Friday, December 29th. This represents a $0.24 annualized dividend and a dividend yield of 0.86%. Wolverine World Wide’s payout ratio is 40.00%.
About Wolverine World Wide
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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