Schwab Charles Investment Management Inc. lifted its stake in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 5.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 641,351 shares of the textile maker’s stock after acquiring an additional 35,585 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.67% of Wolverine World Wide worth $18,503,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Systematic Financial Management LP purchased a new stake in Wolverine World Wide during the 2nd quarter valued at $27,385,000. Prudential Financial Inc. raised its holdings in Wolverine World Wide by 129.1% during the 2nd quarter. Prudential Financial Inc. now owns 1,154,622 shares of the textile maker’s stock valued at $32,341,000 after buying an additional 650,710 shares during the period. Citadel Advisors LLC raised its holdings in Wolverine World Wide by 568.4% during the 3rd quarter. Citadel Advisors LLC now owns 639,185 shares of the textile maker’s stock valued at $18,440,000 after buying an additional 543,559 shares during the period. Victory Capital Management Inc. raised its holdings in Wolverine World Wide by 22.1% during the 3rd quarter. Victory Capital Management Inc. now owns 2,903,558 shares of the textile maker’s stock valued at $83,768,000 after buying an additional 525,150 shares during the period. Finally, Marshall Wace North America L.P. raised its holdings in Wolverine World Wide by 180.8% during the 2nd quarter. Marshall Wace North America L.P. now owns 808,859 shares of the textile maker’s stock valued at $22,648,000 after buying an additional 520,754 shares during the period. 92.48% of the stock is currently owned by institutional investors.
In other Wolverine World Wide news, Director Joseph R. Gromek sold 18,928 shares of the stock in a transaction dated Thursday, November 30th. The stock was 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Jeppesen sold 11,807 shares of the stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $27.97, for a total value of $330,241.79. The disclosure for this sale can be found here. Company insiders own 5.65% of the company’s stock.
WWW has been the topic of several recent research reports. Stifel Nicolaus set a $34.00 price target on Wolverine World Wide and gave the company a “buy” rating in a report on Saturday, December 16th. Pivotal Research raised Wolverine World Wide from a “hold” rating to a “buy” rating and upped their price objective for the company from $32.00 to $33.00 in a research report on Wednesday, November 8th. Robert W. Baird reaffirmed a “buy” rating and issued a $32.00 price objective on shares of Wolverine World Wide in a research report on Sunday, September 17th. TheStreet downgraded Wolverine World Wide from a “b” rating to a “c+” rating in a research report on Wednesday, November 8th. Finally, Morgan Stanley upped their price objective on Wolverine World Wide from $22.50 to $24.50 and gave the company an “equal weight” rating in a research report on Monday, September 25th. Ten investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $27.25.
Shares of Wolverine World Wide, Inc. (NYSE:WWW) traded up $0.07 during mid-day trading on Thursday, reaching $31.77. The company had a trading volume of 685,431 shares, compared to its average volume of 851,378. Wolverine World Wide, Inc. has a 12 month low of $20.94 and a 12 month high of $32.70. The company has a market capitalization of $3,040.00, a P/E ratio of 53.85, a P/E/G ratio of 1.35 and a beta of 0.95. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.06 and a current ratio of 3.09.
Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings data on Wednesday, November 8th. The textile maker reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. Wolverine World Wide had a return on equity of 9.10% and a net margin of 3.92%. The company had revenue of $581.30 million for the quarter, compared to the consensus estimate of $552.36 million. During the same quarter last year, the company earned $0.49 earnings per share. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. sell-side analysts predict that Wolverine World Wide, Inc. will post 1.64 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Tuesday, January 2nd will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date is Friday, December 29th. Wolverine World Wide’s dividend payout ratio (DPR) is presently 40.68%.
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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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