Wolverine World Wide, Inc. (WWW) Shares Sold by Convergence Investment Partners LLC

Convergence Investment Partners LLC reduced its stake in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 76.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,489 shares of the textile maker’s stock after selling 54,560 shares during the period. Convergence Investment Partners LLC’s holdings in Wolverine World Wide were worth $462,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. increased its position in Wolverine World Wide by 55,444.0% in the first quarter. BlackRock Inc. now owns 12,193,018 shares of the textile maker’s stock valued at $304,461,000 after buying an additional 12,171,066 shares during the period. Wellington Management Group LLP increased its position in Wolverine World Wide by 1,032.2% in the first quarter. Wellington Management Group LLP now owns 2,826,644 shares of the textile maker’s stock valued at $70,581,000 after buying an additional 2,576,990 shares during the period. Goldman Sachs Group Inc. increased its position in Wolverine World Wide by 670.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,854,762 shares of the textile maker’s stock valued at $46,313,000 after buying an additional 1,613,970 shares during the period. Vanguard Group Inc. increased its position in Wolverine World Wide by 5.9% in the first quarter. Vanguard Group Inc. now owns 8,570,082 shares of the textile maker’s stock valued at $213,996,000 after buying an additional 476,268 shares during the period. Finally, Bogle Investment Management L P DE acquired a new position in Wolverine World Wide during the first quarter valued at approximately $10,124,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Shares of Wolverine World Wide, Inc. (NYSE:WWW) opened at 26.16 on Friday. Wolverine World Wide, Inc. has a 52 week low of $20.58 and a 52 week high of $28.64. The firm’s 50-day moving average is $27.39 and its 200-day moving average is $25.51. The firm has a market capitalization of $2.53 billion, a P/E ratio of 30.74 and a beta of 0.94.

Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings results on Wednesday, August 9th. The textile maker reported $0.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.14. Wolverine World Wide had a return on equity of 15.81% and a net margin of 3.32%. The firm had revenue of $598.80 million for the quarter, compared to analysts’ expectations of $573.78 million. During the same period in the prior year, the business posted $0.26 earnings per share. The company’s revenue was up 2.6% on a year-over-year basis. Equities analysts anticipate that Wolverine World Wide, Inc. will post $1.60 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Monday, October 2nd will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.92%. The ex-dividend date is Friday, September 29th. Wolverine World Wide’s dividend payout ratio is presently 28.24%.

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WWW has been the topic of several research reports. BidaskClub downgraded shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a research note on Wednesday, June 21st. Robert W. Baird upgraded shares of Wolverine World Wide from a “neutral” rating to an “outperform” rating and upped their price target for the company from $29.00 to $30.00 in a research note on Wednesday, May 17th. Telsey Advisory Group upped their price target on shares of Wolverine World Wide from $26.00 to $29.00 and gave the company a “market perform” rating in a research note on Thursday, May 11th. Zacks Investment Research upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research note on Saturday, May 13th. Finally, Wedbush upped their price target on shares of Wolverine World Wide from $7.00 to $8.00 and gave the company an “outperform” rating in a research note on Thursday, May 11th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $23.86.

About Wolverine World Wide

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, Chaco footwear, and Sebago footwear and apparel; 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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Institutional Ownership by Quarter for Wolverine World Wide (NYSE:WWW)

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