Alpha Windward LLC acquired a new position in shares of Wolverine World Wide, Inc. (NYSE:WWW) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 17,880 shares of the textile maker’s stock, valued at approximately $570,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Riverhead Capital Management LLC boosted its holdings in shares of Wolverine World Wide by 62.2% during the 2nd quarter. Riverhead Capital Management LLC now owns 7,625 shares of the textile maker’s stock worth $214,000 after buying an additional 2,925 shares during the period. Miles Capital Inc. bought a new stake in Wolverine World Wide in the 2nd quarter valued at $222,000. Advisory Services Network LLC boosted its holdings in Wolverine World Wide by 5.3% in the 2nd quarter. Advisory Services Network LLC now owns 8,336 shares of the textile maker’s stock valued at $234,000 after purchasing an additional 421 shares during the period. Bayesian Capital Management LP bought a new stake in Wolverine World Wide in the 2nd quarter valued at $246,000. Finally, Shelton Capital Management acquired a new position in shares of Wolverine World Wide in the 2nd quarter valued at $265,000. 92.26% of the stock is owned by institutional investors and hedge funds.
Shares of Wolverine World Wide, Inc. (NYSE:WWW) traded down $0.82 during mid-day trading on Friday, reaching $29.82. 2,537,883 shares of the company’s stock traded hands, compared to its average volume of 848,456. The company has a quick ratio of 2.06, a current ratio of 3.09 and a debt-to-equity ratio of 0.74. Wolverine World Wide, Inc. has a 52-week low of $23.34 and a 52-week high of $33.82. The firm has a market cap of $3,047.43, a P/E ratio of 49.70, a P/E/G ratio of 1.32 and a beta of 0.92.
Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings data on Wednesday, November 8th. The textile maker reported $0.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.06. Wolverine World Wide had a net margin of 2.35% and a return on equity of 15.25%. The company had revenue of $581.30 million for the quarter, compared to the consensus estimate of $552.36 million. During the same period last year, the company earned $0.49 earnings per share. The firm’s revenue was down 3.7% compared to the same quarter last year. sell-side analysts forecast that Wolverine World Wide, Inc. will post 1.64 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Monday, April 2nd will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.07%. This is an increase from Wolverine World Wide’s previous quarterly dividend of $0.06. The ex-dividend date is Thursday, March 29th. Wolverine World Wide’s payout ratio is presently 40.00%.
In other Wolverine World Wide news, Director Joseph R. Gromek sold 18,928 shares of Wolverine World Wide 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Jeppesen sold 11,807 shares of Wolverine World Wide stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $27.97, for a total transaction of $330,241.79. The disclosure for this sale can be found here. 5.65% of the stock is currently owned by insiders.
A number of equities analysts have recently issued reports on WWW shares. Piper Jaffray Companies restated a “hold” rating and issued a $25.00 price objective on shares of Wolverine World Wide in a research note on Wednesday, November 1st. Pivotal Research upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating and increased their price objective for the company from $32.00 to $33.00 in a research note on Wednesday, November 8th. Telsey Advisory Group increased their target price on shares of Wolverine World Wide from $29.00 to $30.00 and gave the stock a “market perform” rating in a research report on Thursday, November 9th. Buckingham Research increased their target price on shares of Wolverine World Wide from $24.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, November 9th. Finally, TheStreet cut shares of Wolverine World Wide from a “b” rating to a “c+” rating in a research report on Wednesday, November 8th. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $27.25.
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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