The Manufacturers Life Insurance Company reduced its holdings in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 2.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 72,121 shares of the textile maker’s stock after selling 2,126 shares during the period. The Manufacturers Life Insurance Company owned about 0.07% of Wolverine World Wide worth $2,020,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Bank of Montreal Can boosted its position in shares of Wolverine World Wide by 1.3% during the 2nd quarter. Bank of Montreal Can now owns 4,904 shares of the textile maker’s stock valued at $138,000 after acquiring an additional 64 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Wolverine World Wide during the 1st quarter valued at about $200,000. Everence Capital Management Inc. acquired a new stake in shares of Wolverine World Wide during the 2nd quarter valued at about $202,000. Papp L Roy & Associates acquired a new stake in shares of Wolverine World Wide during the 2nd quarter valued at about $204,000. Finally, Riverhead Capital Management LLC boosted its position 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 valued at $214,000 after acquiring an additional 2,925 shares in the last quarter. Institutional investors and hedge funds own 91.41% of the company’s stock.
WWW has been the topic of several recent research reports. KeyCorp reiterated a “hold” rating on shares of Wolverine World Wide in a research report on Wednesday, October 11th. Robert W. Baird reiterated a “buy” rating and set a $32.00 target price on shares of Wolverine World Wide in a research report on Sunday, September 17th. Morgan Stanley lifted their price target on shares of Wolverine World Wide from $22.50 to $24.50 and gave the company an “equal weight” rating in a report on Monday, September 25th. ValuEngine downgraded shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, Piper Jaffray Companies reissued a “hold” rating and set a $25.00 price target on shares of Wolverine World Wide in a report on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $25.06.
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Wolverine World Wide, Inc. (WWW) opened at $26.59 on Monday. The company has a market capitalization of $2,569.55, a price-to-earnings ratio of 16.41, a PEG ratio of 1.32 and a beta of 0.94. The company has a current ratio of 2.81, a quick ratio of 1.95 and a debt-to-equity ratio of 0.75.
Wolverine World Wide (NYSE:WWW) last announced its earnings results on Wednesday, August 9th. The textile maker reported $0.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.14. Wolverine World Wide had a net margin of 3.32% and a return on equity of 15.81%. The company had revenue of $598.80 million during the quarter, compared to the consensus estimate of $573.78 million. During the same period in the previous year, the firm posted $0.26 earnings per share. The company’s revenue was up 2.6% on a year-over-year basis. equities analysts predict that Wolverine World Wide, Inc. will post 1.61 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Tuesday, January 2nd will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Friday, December 29th. Wolverine World Wide’s dividend payout ratio is presently 28.24%.
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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