Alpha Windward LLC cut its stake in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 9.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,040 shares of the textile maker’s stock after selling 1,500 shares during the quarter. Alpha Windward LLC’s holdings in Wolverine World Wide were worth $548,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently modified their holdings of the company. Raymond James & Associates purchased a new stake in Wolverine World Wide during the 2nd quarter valued at about $205,000. A.R.T. Advisors LLC purchased a new stake in Wolverine World Wide during the 1st quarter valued at about $219,000. Cape Cod Five Cents Savings Bank purchased a new stake in Wolverine World Wide during the 2nd quarter valued at about $220,000. Robeco Institutional Asset Management B.V. purchased a new stake in Wolverine World Wide during the 2nd quarter valued at about $224,000. Finally, Papp L Roy & Associates purchased a new stake in Wolverine World Wide during the 2nd quarter valued at about $226,000. Institutional investors own 92.75% of the company’s stock.
Several research firms have weighed in on WWW. ValuEngine cut Wolverine World Wide from a “buy” rating to a “hold” rating in a report on Thursday, July 5th. UBS Group upgraded Wolverine World Wide from a “neutral” rating to a “positive” rating in a report on Wednesday, August 1st. Susquehanna Bancshares upgraded Wolverine World Wide from a “neutral” rating to a “positive” rating and increased their price objective for the stock from $29.00 to $41.00 in a report on Wednesday, August 1st. Pivotal Research reiterated a “hold” rating and issued a $36.00 price objective (up previously from $34.00) on shares of Wolverine World Wide in a report on Friday, August 3rd. Finally, Wedbush increased their price objective on Wolverine World Wide from $37.00 to $41.00 and gave the stock an “outperform” rating in a report on Monday, August 6th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Wolverine World Wide presently has an average rating of “Buy” and a consensus price target of $39.75.
NYSE WWW traded down $0.53 on Thursday, hitting $35.44. The company’s stock had a trading volume of 496,700 shares, compared to its average volume of 671,560. Wolverine World Wide, Inc. has a 52-week low of $25.25 and a 52-week high of $39.77. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.86 and a current ratio of 2.65. The stock has a market cap of $3.71 billion, a P/E ratio of 21.61, a price-to-earnings-growth ratio of 1.83 and a beta of 1.02.
Wolverine World Wide (NYSE:WWW) last released its quarterly earnings data on Wednesday, August 8th. The textile maker reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.08. The business had revenue of $566.90 million during the quarter, compared to analysts’ expectations of $569.24 million. Wolverine World Wide had a return on equity of 18.58% and a net margin of 2.83%. The business’s revenue was down 5.3% on a year-over-year basis. During the same quarter last year, the business posted $0.43 EPS. Sell-side analysts predict that Wolverine World Wide, Inc. will post 2.14 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 1st. Stockholders of record on Monday, October 1st will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Friday, September 28th. Wolverine World Wide’s payout ratio is presently 19.51%.
In other news, insider Michael Jeppesen sold 49,151 shares of the firm’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $37.77, for a total value of $1,856,433.27. Following the completion of the transaction, the insider now owns 156,470 shares in the company, valued at approximately $5,909,871.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Richard Woodworth sold 19,376 shares of the firm’s 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 completion of the transaction, the insider now owns 123,040 shares of the company’s stock, valued at approximately $4,765,339.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 69,527 shares of company stock valued at $2,644,036. 5.81% of the stock is currently owned by company insiders.
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.
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