Hanson & Doremus Investment Management reduced its stake in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 3.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,033 shares of the textile maker’s stock after selling 1,809 shares during the quarter. Hanson & Doremus Investment Management’s holdings in Wolverine World Wide were worth $1,879,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of WWW. Renaissance Technologies LLC purchased a new stake in Wolverine World Wide in the 4th quarter worth about $2,831,000. Millennium Management LLC raised its position in Wolverine World Wide by 92.1% in the 4th quarter. Millennium Management LLC now owns 33,336 shares of the textile maker’s stock worth $1,063,000 after purchasing an additional 15,986 shares during the period. Wells Fargo & Company MN raised its position in Wolverine World Wide by 114.3% in the 1st quarter. Wells Fargo & Company MN now owns 353,447 shares of the textile maker’s stock worth $10,214,000 after purchasing an additional 188,489 shares during the period. Rhumbline Advisers raised its position in Wolverine World Wide by 1.4% in the 1st quarter. Rhumbline Advisers now owns 238,171 shares of the textile maker’s stock worth $6,883,000 after purchasing an additional 3,398 shares during the period. Finally, Comerica Bank raised its position in Wolverine World Wide by 2.7% in the 1st quarter. Comerica Bank now owns 100,948 shares of the textile maker’s stock worth $2,963,000 after purchasing an additional 2,664 shares during the period. Institutional investors and hedge funds own 94.99% of the company’s stock.
Shares of WWW stock opened at $38.24 on Monday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.86 and a current ratio of 2.65. The stock has a market capitalization of $3.57 billion, a price-to-earnings ratio of 23.32, a P/E/G ratio of 1.76 and a beta of 0.98. Wolverine World Wide, Inc. has a one year low of $25.25 and a one year high of $38.52.
Wolverine World Wide (NYSE:WWW) last issued its earnings results on Wednesday, August 8th. The textile maker reported $0.54 EPS for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.08. The business had revenue of $566.90 million for the quarter, compared to the consensus estimate of $569.24 million. Wolverine World Wide had a net margin of 2.83% and a return on equity of 18.58%. The company’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.43 EPS. equities analysts forecast that Wolverine World Wide, Inc. will post 2.13 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 1st. Shareholders of record on Monday, October 1st will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, September 28th. This represents a $0.32 dividend on an annualized basis and a yield of 0.84%. Wolverine World Wide’s dividend payout ratio is currently 19.51%.
In other news, insider Michael Jeppesen sold 49,151 shares of the stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $37.77, for a total transaction of $1,856,433.27. Following the transaction, the insider now directly owns 156,470 shares in the company, valued at $5,909,871.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director William K. Gerber sold 1,000 shares of the stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $37.17, for a total transaction of $37,170.00. The disclosure for this sale can be found here. 5.81% of the stock is owned by corporate insiders.
A number of research firms recently weighed in on WWW. Telsey Advisory Group increased their price objective on shares of Wolverine World Wide from $35.00 to $39.00 and gave the stock a “market perform” rating in a research report on Thursday, August 9th. DA Davidson set a $44.00 price objective on shares of Wolverine World Wide and gave the stock a “buy” rating in a research report on Thursday, August 9th. Piper Jaffray Companies reissued a “hold” rating and issued a $35.00 price objective on shares of Wolverine World Wide in a research report on Thursday, August 9th. Robert W. Baird reissued a “buy” rating and issued a $43.00 price objective on shares of Wolverine World Wide in a research report on Friday, August 10th. Finally, Argus increased their price objective on shares of Wolverine World Wide from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Friday. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Wolverine World Wide presently has a consensus rating of “Buy” and a consensus target price of $38.04.
Wolverine World Wide Profile
Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories. The company operates through four segments: Wolverine Outdoor & Lifestyle Group, Wolverine Boston Group, Wolverine Heritage Group, and Wolverine Multi-Brand Group. It offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; children's footwear; industrial work boots and apparel; and uniform shoes and boots.
Further Reading: How Short Selling Works
Want to see what other hedge funds are holding WWW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wolverine World Wide, Inc. (NYSE:WWW).
Receive News & Ratings for Wolverine World Wide Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wolverine World Wide and related companies with MarketBeat.com's FREE daily email newsletter.