OppenheimerFunds Inc. reduced its stake in Wolverine World Wide, Inc. (NYSE:WWW) by 9.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,463 shares of the textile maker’s stock after selling 5,415 shares during the period. OppenheimerFunds Inc. owned approximately 0.05% of Wolverine World Wide worth $1,429,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Pinnacle Financial Partners Inc. bought a new stake in shares of Wolverine World Wide in the first quarter valued at approximately $128,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Wolverine World Wide by 50.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,883 shares of the textile maker’s stock valued at $156,000 after buying an additional 1,646 shares during the period. Public Employees Retirement Association of Colorado bought a new stake in shares of Wolverine World Wide in the fourth quarter valued at approximately $171,000. Connable Office Inc. bought a new stake in shares of Wolverine World Wide in the first quarter valued at approximately $256,000. Finally, Stevens Capital Management LP bought a new stake in shares of Wolverine World Wide in the first quarter valued at approximately $293,000. Institutional investors and hedge funds own 95.27% of the company’s stock.
Several brokerages recently issued reports on WWW. Susquehanna Bancshares upgraded Wolverine World Wide from a “negative” rating to a “neutral” rating in a research note on Thursday, May 10th. DA Davidson reiterated a “buy” rating on shares of Wolverine World Wide in a research note on Wednesday, May 9th. Pivotal Research set a $33.00 price objective on shares of Wolverine World Wide and gave the company a “hold” rating in a research report on Wednesday, May 2nd. Telsey Advisory Group boosted their price objective on shares of Wolverine World Wide from $33.00 to $35.00 and gave the company a “market perform” rating in a research report on Thursday, May 10th. Finally, ValuEngine upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating in a research report on Tuesday, June 12th. Eleven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $32.77.
Shares of Wolverine World Wide opened at $36.73 on Tuesday, according to MarketBeat. Wolverine World Wide, Inc. has a one year low of $25.24 and a one year high of $36.88. The company has a market cap of $3.46 billion, a price-to-earnings ratio of 22.40, a PEG ratio of 1.76 and a beta of 0.97. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.18 and a quick ratio of 2.13.
Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings results on Wednesday, May 9th. The textile maker reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.13. The company had revenue of $534.10 million during the quarter, compared to the consensus estimate of $531.10 million. Wolverine World Wide had a net margin of 1.28% and a return on equity of 17.54%. The company’s revenue for the quarter was down 9.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.37 earnings per share. sell-side analysts anticipate that Wolverine World Wide, Inc. will post 2.08 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 1st. Stockholders of record on Monday, July 2nd will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, June 29th. This represents a $0.32 annualized dividend and a dividend yield of 0.87%. Wolverine World Wide’s dividend payout ratio (DPR) is presently 19.51%.
In other news, CFO Michael D. Stornant sold 38,010 shares of the company’s stock in a transaction on Friday, May 18th. The shares were sold at an average price of $32.38, for a total transaction of $1,230,763.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Jeppesen sold 47,640 shares of the company’s stock in a transaction on Friday, May 11th. The stock was sold at an average price of $31.50, for a total transaction of $1,500,660.00. The disclosure for this sale can be found here. 5.81% of the stock is currently owned by corporate insiders.
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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