Wolverine World Wide, Inc. (WWW) Position Decreased by Hanson & Doremus Investment Management

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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

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

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