Bank of New York Mellon Corp Decreases Position in Wolverine World Wide, Inc. (WWW)

Bank of New York Mellon Corp trimmed its holdings in Wolverine World Wide, Inc. (NYSE:WWW) by 2.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,378,518 shares of the textile maker’s stock after selling 41,860 shares during the quarter. Bank of New York Mellon Corp owned about 1.43% of Wolverine World Wide worth $39,769,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Bank of Montreal Can increased its stake 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 worth $138,000 after acquiring an additional 64 shares in the last quarter. Everence Capital Management Inc. bought a new position in shares of Wolverine World Wide in the 2nd quarter worth about $202,000. Riverhead Capital Management LLC increased its stake 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 worth $214,000 after acquiring an additional 2,925 shares in the last quarter. Teacher Retirement System of Texas bought a new position in shares of Wolverine World Wide in the 2nd quarter worth about $221,000. Finally, Miles Capital Inc. bought a new position in shares of Wolverine World Wide in the 2nd quarter worth about $222,000. Institutional investors own 92.50% of the company’s stock.

Wolverine World Wide, Inc. (NYSE:WWW) traded up $0.78 during trading on Thursday, hitting $29.35. 775,300 shares of the stock traded hands, compared to its average volume of 780,502. The company has a market capitalization of $2,830.00, a PE ratio of 18.31, a P/E/G ratio of 1.40 and a beta of 0.96. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.06 and a current ratio of 3.09. Wolverine World Wide, Inc. has a 52-week low of $20.94 and a 52-week high of $29.63.

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, topping the 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 analysts’ expectations of $552.36 million. During the same quarter in the previous year, the business posted $0.49 earnings per share. Wolverine World Wide’s quarterly revenue was down 3.7% on a year-over-year basis. sell-side analysts expect that Wolverine World Wide, Inc. will post 1.64 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Tuesday, January 2nd will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend is Friday, December 29th. Wolverine World Wide’s dividend payout ratio is presently 40.00%.

In related news, 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 value of $551,561.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael Jeppesen sold 11,807 shares of the business’s 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. Insiders own 5.65% of the company’s stock.

WWW has been the subject of several research reports. Piper Jaffray Companies reiterated a “hold” rating and issued a $25.00 price target on shares of Wolverine World Wide in a research note on Wednesday, November 1st. TheStreet lowered shares of Wolverine World Wide from a “b” rating to a “c+” rating in a research note on Wednesday, November 8th. KeyCorp restated a “hold” rating on shares of Wolverine World Wide in a research note on Wednesday, October 11th. Pivotal Research upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating and raised their price objective for the company from $32.00 to $33.00 in a research note on Wednesday, November 8th. Finally, Morgan Stanley raised their price objective on shares of Wolverine World Wide from $22.50 to $24.50 and gave the company an “equal weight” rating in a research note on Monday, September 25th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $25.65.

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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, 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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Institutional Ownership by Quarter for Wolverine World Wide (NYSE:WWW)

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