Legal & General Group Plc grew its position in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 3.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 233,200 shares of the textile maker’s stock after buying an additional 8,293 shares during the quarter. Legal & General Group Plc owned 0.25% of Wolverine World Wide worth $8,148,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently bought and sold shares of WWW. Earnest Partners LLC grew its holdings in shares of Wolverine World Wide by 71.6% during the first quarter. Earnest Partners LLC now owns 2,605,580 shares of the textile maker’s stock valued at $75,301,000 after buying an additional 1,086,854 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in Wolverine World Wide during the second quarter valued at approximately $24,604,000. BlackRock Inc. lifted its position in Wolverine World Wide by 5.3% during the second quarter. BlackRock Inc. now owns 13,103,559 shares of the textile maker’s stock valued at $455,613,000 after purchasing an additional 664,587 shares during the period. Eagle Asset Management Inc. bought a new position in Wolverine World Wide during the first quarter valued at approximately $14,951,000. Finally, Monarch Partners Asset Management LLC bought a new position in Wolverine World Wide during the second quarter valued at approximately $17,715,000. Hedge funds and other institutional investors own 92.76% of the company’s stock.
WWW opened at $38.91 on Monday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.86 and a current ratio of 2.65. Wolverine World Wide, Inc. has a 1-year low of $25.25 and a 1-year high of $39.60. The company has a market capitalization of $3.73 billion, a price-to-earnings ratio of 23.73, a price-to-earnings-growth ratio of 1.84 and a beta of 1.03.
Wolverine World Wide (NYSE:WWW) last released its quarterly earnings results on Wednesday, August 8th. The textile maker reported $0.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.08. Wolverine World Wide had a net margin of 2.83% and a return on equity of 18.58%. The business had revenue of $566.90 million for the quarter, compared to the consensus estimate of $569.24 million. During the same period last year, the firm earned $0.43 earnings per share. The company’s quarterly revenue was down 5.3% on a year-over-year basis. equities analysts anticipate that Wolverine World Wide, Inc. will post 2.14 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 1st. Shareholders of record on Monday, October 1st will be given a $0.08 dividend. The ex-dividend date is Friday, September 28th. This represents a $0.32 annualized dividend and a yield of 0.82%. Wolverine World Wide’s payout ratio is presently 19.51%.
In other Wolverine World Wide news, insider Richard Woodworth sold 19,376 shares of the stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $38.73, for a total value of $750,432.48. Following the transaction, the insider now directly owns 123,040 shares in the company, valued at $4,765,339.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William K. Gerber sold 1,000 shares of the stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $37.17, for a total transaction of $37,170.00. The disclosure for this sale can be found here. Insiders sold 69,527 shares of company stock worth $2,644,036 over the last quarter. Insiders own 5.81% of the company’s stock.
A number of brokerages recently weighed in on WWW. Robert W. Baird restated a “buy” rating and set a $43.00 price objective on shares of Wolverine World Wide in a research report on Friday, August 10th. DA Davidson set a $44.00 price objective on shares of Wolverine World Wide and gave the company a “buy” rating in a research report on Thursday, August 9th. ValuEngine upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating in a research report on Thursday, July 19th. Piper Jaffray Companies restated a “hold” rating and set a $35.00 price objective on shares of Wolverine World Wide in a research report on Thursday, August 9th. Finally, Buckingham Research increased their price objective on shares of Wolverine World Wide from $34.00 to $38.00 and gave the company a “neutral” rating in a research report on Thursday, August 16th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $38.58.
About Wolverine World Wide
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.
Recommended Story: Asset Allocation Models, Which is Right For You?
Receive News & Ratings for Wolverine World Wide Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wolverine World Wide and related companies with MarketBeat.com's FREE daily email newsletter.