Macquarie Group Ltd. lifted its stake in Wolverine World Wide, Inc. (NYSE:WWW) by 7.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,817,903 shares of the textile maker’s stock after acquiring an additional 131,157 shares during the quarter. Macquarie Group Ltd. owned 1.88% of Wolverine World Wide worth $52,447,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Bank of Montreal Can boosted its holdings in shares of Wolverine World Wide by 1.3% in the 2nd quarter. Bank of Montreal Can now owns 4,904 shares of the textile maker’s stock valued at $138,000 after buying an additional 64 shares in the last quarter. Everence Capital Management Inc. acquired a new position in shares of Wolverine World Wide in the 2nd quarter valued at $202,000. Papp L Roy & Associates acquired a new position in shares of Wolverine World Wide in the 2nd quarter valued at $204,000. Riverhead Capital Management LLC boosted its holdings in shares of Wolverine World Wide by 62.2% in the 2nd quarter. Riverhead Capital Management LLC now owns 7,625 shares of the textile maker’s stock valued at $214,000 after buying an additional 2,925 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in shares of Wolverine World Wide in the 2nd quarter valued at $221,000. 92.50% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Wolverine World Wide, Inc. (NYSE WWW) traded up $0.78 during midday trading on Wednesday, hitting $29.35. 775,353 shares of the stock were exchanged, compared to its average volume of 780,502. The company has a current ratio of 3.09, a quick ratio of 2.06 and a debt-to-equity ratio of 0.74. Wolverine World Wide, Inc. has a 1-year low of $20.94 and a 1-year high of $29.63. The stock has a market capitalization of $2,794.83, a P/E ratio of 18.72, a PEG ratio of 1.43 and a beta of 0.96.
Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings results on Wednesday, November 8th. The textile maker reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. The firm had revenue of $581.30 million for the quarter, compared to analysts’ expectations of $552.36 million. Wolverine World Wide had a net margin of 2.35% and a return on equity of 15.25%. Wolverine World Wide’s revenue was down 3.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.49 earnings per share. analysts expect that Wolverine World Wide, Inc. will post 1.64 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Tuesday, January 2nd will be paid a dividend of $0.06 per share. The ex-dividend date is Friday, December 29th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.82%. Wolverine World Wide’s dividend payout ratio is currently 40.00%.
In related news, insider Michael Jeppesen sold 11,807 shares of Wolverine World Wide stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $27.97, for a total value of $330,241.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph R. Gromek sold 18,928 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $29.14, for a total transaction of $551,561.92. The disclosure for this sale can be found here. Company insiders own 5.65% of the company’s stock.
Several research firms have recently commented on WWW. Zacks Investment Research upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research note on Saturday, August 12th. Buckingham Research increased their price target on shares of Wolverine World Wide from $24.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, November 9th. Piper Jaffray Companies set a $25.00 price target on shares of Wolverine World Wide and gave the company a “hold” rating in a report on Wednesday, August 9th. ValuEngine upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating in a report on Friday, August 11th. Finally, Pivotal Research started coverage on shares of Wolverine World Wide in a report on Thursday, October 5th. They issued a “hold” rating and a $32.00 price target for the company. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. Wolverine World Wide has a consensus rating of “Hold” and a consensus price target of $25.65.
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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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