Texas Permanent School Fund lowered its stake in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 8.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 64,677 shares of the textile maker’s stock after selling 5,872 shares during the quarter. Texas Permanent School Fund owned approximately 0.07% of Wolverine World Wide worth $2,062,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of WWW. Community Financial Services Group LLC bought a new stake in Wolverine World Wide during the 4th quarter worth about $212,000. Advisory Services Network LLC grew its holdings in Wolverine World Wide by 5.3% during the 2nd quarter. Advisory Services Network LLC now owns 8,336 shares of the textile maker’s stock worth $234,000 after acquiring an additional 421 shares during the last quarter. Shelton Capital Management bought a new stake in Wolverine World Wide during the 2nd quarter worth about $265,000. Raymond James Financial Services Advisors Inc. bought a new stake in Wolverine World Wide during the 2nd quarter worth about $304,000. Finally, Fox Run Management L.L.C. bought a new stake in Wolverine World Wide during the 4th quarter worth about $308,000. 92.22% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have commented on WWW. Zacks Investment Research lowered shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a report on Saturday, January 6th. Stifel Nicolaus set a $34.00 target price on shares of Wolverine World Wide and gave the company a “buy” rating in a research note on Saturday, December 16th. Citigroup reaffirmed a “neutral” rating and issued a $32.00 target price (up previously from $29.00) on shares of Wolverine World Wide in a research note on Monday. Pivotal Research lowered shares of Wolverine World Wide from a “buy” rating to a “hold” rating and set a $33.00 target price on the stock. in a research note on Friday, February 9th. Finally, Telsey Advisory Group raised their target price on shares of Wolverine World Wide from $29.00 to $30.00 and gave the company a “market perform” rating in a research note on Thursday, November 9th. Eleven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $27.68.
Shares of Wolverine World Wide, Inc. (WWW) traded up $0.28 during midday trading on Wednesday, hitting $30.26. 269,998 shares of the stock traded hands, compared to its average volume of 847,221. The company has a market cap of $2,872.33, a price-to-earnings ratio of 49.90, a PEG ratio of 1.19 and a beta of 0.92. The company has a quick ratio of 2.06, a current ratio of 3.09 and a debt-to-equity ratio of 0.74. Wolverine World Wide, Inc. has a one year low of $23.34 and a one year high of $33.82.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Monday, April 2nd will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.06%. This is an increase from Wolverine World Wide’s previous quarterly dividend of $0.06. The ex-dividend date is Thursday, March 29th. Wolverine World Wide’s dividend payout ratio (DPR) is currently 40.00%.
In related news, Director Joseph R. Gromek sold 18,928 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $29.14, for a total value of $551,561.92. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 5.65% of the company’s stock.
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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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