Mesirow Financial Investment Management Equity Management decreased its position in shares of Wolverine World Wide (NYSE:WWW) by 25.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 452,144 shares of the textile maker’s stock after selling 152,810 shares during the period. Mesirow Financial Investment Management Equity Management’s holdings in Wolverine World Wide were worth $13,068,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WWW. Louisiana State Employees Retirement System raised its stake in Wolverine World Wide by 5.1% during the 4th quarter. Louisiana State Employees Retirement System now owns 41,200 shares of the textile maker’s stock worth $1,313,000 after acquiring an additional 2,000 shares during the period. Marathon Asset Management LLP grew its holdings in Wolverine World Wide by 1.7% during the 4th quarter. Marathon Asset Management LLP now owns 790,188 shares of the textile maker’s stock valued at $25,235,000 after buying an additional 12,950 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in Wolverine World Wide by 3.9% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 666,103 shares of the textile maker’s stock valued at $21,236,000 after buying an additional 24,752 shares in the last quarter. Alpha Windward LLC purchased a new stake in Wolverine World Wide during the 4th quarter valued at approximately $570,000. Finally, Community Financial Services Group LLC purchased a new stake in Wolverine World Wide during the 4th quarter valued at approximately $212,000. Institutional investors own 95.66% of the company’s stock.
In related news, insider Michael Jeppesen sold 47,640 shares of the firm’s stock in a transaction on Friday, May 11th. The shares were sold at an average price of $31.50, for a total value of $1,500,660.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James D. Zwiers sold 100,600 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 190,893 shares of the company’s stock, valued at $5,686,702.47. The disclosure for this sale can be found here. Company insiders own 5.81% of the company’s stock.
Wolverine World Wide opened at $32.68 on Thursday, MarketBeat Ratings reports. Wolverine World Wide has a fifty-two week low of $32.28 and a fifty-two week high of $32.63. The company has a quick ratio of 2.13, a current ratio of 3.18 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $3.03 billion, a P/E ratio of 18.04, a price-to-earnings-growth ratio of 1.55 and a beta of 0.96.
Wolverine World Wide (NYSE:WWW) last posted its earnings results on Wednesday, May 9th. The textile maker reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.13. Wolverine World Wide had a net margin of 1.28% and a return on equity of 17.54%. The firm had revenue of $534.10 million during the quarter, compared to analyst estimates of $531.10 million. During the same period last year, the firm posted $0.37 earnings per share. Wolverine World Wide’s revenue for the quarter was down 9.7% compared to the same quarter last year. analysts predict that Wolverine World Wide will post 2.06 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 1st. Investors of record on Monday, July 2nd will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date is Friday, June 29th. Wolverine World Wide’s dividend payout ratio (DPR) is presently 19.51%.
A number of equities research analysts have issued reports on WWW shares. Pivotal Research reaffirmed a “hold” rating and set a $34.00 price objective on shares of Wolverine World Wide in a report on Wednesday, May 9th. Susquehanna Bancshares raised shares of Wolverine World Wide from a “negative” rating to a “neutral” rating in a report on Thursday, May 10th. Citigroup reaffirmed a “neutral” rating and set a $32.00 price objective (up from $29.00) on shares of Wolverine World Wide in a report on Monday, February 12th. Buckingham Research reaffirmed a “neutral” rating and set a $32.00 price objective on shares of Wolverine World Wide in a report on Wednesday, April 18th. Finally, DA Davidson raised 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 report on Thursday, February 22nd. Eleven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $32.05.
Wolverine World Wide Profile
Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories. The company operates through four segments: Wolverine Outdoor & Lifestyle Group, Wolverine Boston Group, Wolverine Heritage Group, and Wolverine Multi-Brand Group. It offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; children's footwear; industrial work boots and apparel; and uniform shoes and boots.
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