American International Group Inc. Sells 15,627 Shares of Wolverine World Wide (WWW)

American International Group Inc. lowered its stake in Wolverine World Wide (NYSE:WWW) by 20.8% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 59,580 shares of the textile maker’s stock after selling 15,627 shares during the period. American International Group Inc. owned 0.06% of Wolverine World Wide worth $1,722,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Pinnacle Financial Partners Inc. purchased a new stake in Wolverine World Wide during the 1st quarter valued at $128,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Wolverine World Wide by 50.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,883 shares of the textile maker’s stock valued at $156,000 after purchasing an additional 1,646 shares during the last quarter. Public Employees Retirement Association of Colorado purchased a new stake in Wolverine World Wide during the 4th quarter valued at $171,000. Xact Kapitalforvaltning AB purchased a new stake in Wolverine World Wide during the 4th quarter valued at $310,000. Finally, Investors Research Corp purchased a new stake in Wolverine World Wide during the 4th quarter valued at $312,000. Institutional investors own 96.70% of the company’s stock.

In related news, insider Michael Jeppesen sold 47,640 shares of the firm’s stock in a transaction on Friday, May 11th. The stock was sold at an average price of $31.50, for a total value of $1,500,660.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Michael D. Stornant sold 38,010 shares of the firm’s stock in a transaction on Friday, May 18th. The stock was sold at an average price of $32.38, for a total value of $1,230,763.80. The disclosure for this sale can be found here. 5.81% of the stock is currently owned by company insiders.

WWW has been the topic of several recent analyst reports. Pivotal Research reiterated a “hold” rating and set a $34.00 target price on shares of Wolverine World Wide in a research note on Wednesday, May 9th. Susquehanna Bancshares upgraded Wolverine World Wide from a “negative” rating to a “neutral” rating in a research note on Thursday, May 10th. Citigroup reiterated a “neutral” rating and set a $32.00 target price (up from $29.00) on shares of Wolverine World Wide in a research note on Monday, February 12th. Argus upgraded Wolverine World Wide from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research note on Wednesday. Finally, Buckingham Research reissued a “neutral” rating and set a $32.00 price target on shares of Wolverine World Wide in a report on Wednesday, April 18th. Eleven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $32.77.

NYSE WWW opened at $33.53 on Friday. The firm has a market cap of $3.13 billion, a PE ratio of 20.45, a PEG ratio of 1.59 and a beta of 0.96. The company has a current ratio of 3.18, a quick ratio of 2.13 and a debt-to-equity ratio of 0.66. Wolverine World Wide has a 1-year low of $25.24 and a 1-year high of $33.94.

Wolverine World Wide (NYSE:WWW) last released its quarterly earnings results on Wednesday, May 9th. The textile maker reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.13. Wolverine World Wide had a return on equity of 17.54% and a net margin of 1.28%. The firm had revenue of $534.10 million for the quarter, compared to analysts’ expectations of $531.10 million. During the same period in the prior year, the firm earned $0.37 EPS. The company’s revenue was down 9.7% compared to the same quarter last year. analysts forecast that Wolverine World Wide will post 2.08 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 1st. Investors of record on Monday, July 2nd will be issued a $0.08 dividend. The ex-dividend date is Friday, June 29th. This represents a $0.32 dividend on an annualized basis and a yield of 0.95%. Wolverine World Wide’s dividend payout ratio is currently 19.51%.

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.

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

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