Stone Ridge Asset Management LLC acquired a new stake in shares of Wolverine World Wide, Inc. (NYSE:WWW) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 41,222 shares of the textile maker’s stock, valued at approximately $1,314,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Nationwide Fund Advisors raised its stake in Wolverine World Wide by 3.7% during the third quarter. Nationwide Fund Advisors now owns 142,188 shares of the textile maker’s stock worth $4,102,000 after purchasing an additional 5,092 shares during the period. Crossmark Global Holdings Inc. acquired a new position in shares of Wolverine World Wide in the third quarter valued at approximately $564,000. State of Tennessee Treasury Department grew its holdings in shares of Wolverine World Wide by 70.9% in the third quarter. State of Tennessee Treasury Department now owns 154,842 shares of the textile maker’s stock valued at $4,467,000 after purchasing an additional 64,248 shares in the last quarter. FDx Advisors Inc. grew its holdings in shares of Wolverine World Wide by 104.1% in the third quarter. FDx Advisors Inc. now owns 18,315 shares of the textile maker’s stock valued at $528,000 after purchasing an additional 9,342 shares in the last quarter. Finally, BNP Paribas Arbitrage SA grew its holdings in shares of Wolverine World Wide by 56.9% in the third quarter. BNP Paribas Arbitrage SA now owns 52,507 shares of the textile maker’s stock valued at $1,515,000 after purchasing an additional 19,040 shares in the last quarter. 95.53% of the stock is currently owned by institutional investors and hedge funds.
NYSE WWW traded down $0.19 during trading hours on Friday, reaching $29.74. The company’s stock had a trading volume of 673,749 shares, compared to its average volume of 565,146. The stock has a market cap of $2,873.56, a price-to-earnings ratio of 18.13, a PEG ratio of 1.18 and a beta of 0.98. The company has a current ratio of 2.97, a quick ratio of 2.20 and a debt-to-equity ratio of 0.78. Wolverine World Wide, Inc. has a fifty-two week low of $23.45 and a fifty-two week high of $33.82.
Wolverine World Wide (NYSE:WWW) last released its earnings results on Wednesday, February 21st. The textile maker reported $0.41 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.41. The company had revenue of $578.60 million for the quarter, compared to analyst estimates of $579.87 million. Wolverine World Wide had a net margin of 0.01% and a return on equity of 16.20%. The firm’s quarterly revenue was down 20.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.34 EPS. research analysts expect that Wolverine World Wide, Inc. will post 2.02 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Monday, April 2nd will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend is Thursday, March 29th. This is an increase from Wolverine World Wide’s previous quarterly dividend of $0.06. Wolverine World Wide’s dividend payout ratio is 19.51%.
In related news, insider James D. Zwiers sold 100,600 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $29.79, for a total transaction of $2,996,874.00. Following the completion of the sale, the insider now owns 190,893 shares of the company’s stock, valued at approximately $5,686,702.47. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.65% of the stock is currently owned by corporate insiders.
A number of research analysts recently weighed in on the stock. Citigroup lifted their price objective on shares of Wolverine World Wide from $32.00 to $33.00 and gave the company a “neutral” rating in a report on Thursday, February 22nd. Stifel Nicolaus set a $34.00 price target on shares of Wolverine World Wide and gave the stock a “buy” rating in a research note on Saturday, December 16th. Pivotal Research set a $33.00 price objective on shares of Wolverine World Wide and gave the stock a “hold” rating in a research report on Thursday, February 22nd. DA Davidson upgraded shares of Wolverine World Wide from a “neutral” rating to a “buy” rating and set a $36.00 price objective for the company in a research report on Thursday, February 22nd. Finally, ValuEngine upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $28.88.
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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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