New York State Teachers Retirement System decreased its stake in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 0.5% in the first quarter, HoldingsChannel reports. The institutional investor owned 226,639 shares of the textile maker’s stock after selling 1,206 shares during the period. New York State Teachers Retirement System’s holdings in Wolverine World Wide were worth $8,098,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Wolverine World Wide by 1.0% during the 4th quarter. BlackRock Inc. now owns 13,830,159 shares of the textile maker’s stock worth $441,046,000 after acquiring an additional 133,493 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Wolverine World Wide by 2.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,090,118 shares of the textile maker’s stock worth $81,620,000 after acquiring an additional 57,188 shares in the last quarter. Northern Trust Corp raised its stake in shares of Wolverine World Wide by 2.8% during the 4th quarter. Northern Trust Corp now owns 1,963,063 shares of the textile maker’s stock worth $62,602,000 after acquiring an additional 54,246 shares in the last quarter. Royce & Associates LP raised its stake in shares of Wolverine World Wide by 7.3% during the 4th quarter. Royce & Associates LP now owns 1,341,045 shares of the textile maker’s stock worth $42,753,000 after acquiring an additional 91,759 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Wolverine World Wide during the 4th quarter worth approximately $40,369,000. Institutional investors own 95.16% of the company’s stock.
WWW stock opened at $28.88 on Friday. The firm has a market capitalization of $2.68 billion, a PE ratio of 13.31, a price-to-earnings-growth ratio of 1.31 and a beta of 0.96. The company has a current ratio of 1.48, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64. Wolverine World Wide, Inc. has a 12 month low of $28.97 and a 12 month high of $39.77.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Monday, July 1st will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Friday, June 28th. Wolverine World Wide’s dividend payout ratio (DPR) is currently 18.43%.
In related news, Director David T. Kollat sold 9,870 shares of the business’s stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $35.94, for a total value of $354,727.80. Following the completion of the transaction, the director now directly owns 238,332 shares in the company, valued at approximately $8,565,652.08. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.93% of the stock is owned by corporate insiders.
Several research firms recently commented on WWW. Telsey Advisory Group reiterated a “market perform” rating and set a $38.00 price objective (up previously from $35.00) on shares of Wolverine World Wide in a research note on Tuesday, February 19th. Zacks Investment Research upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research note on Saturday, February 16th. ValuEngine raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating in a research report on Friday, February 15th. Wedbush reissued an “outperform” rating on shares of Wolverine World Wide in a research report on Thursday, February 21st. Finally, DA Davidson set a $40.00 target price on shares of Wolverine World Wide and gave the stock a “buy” rating in a research report on Friday, May 10th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. Wolverine World Wide has an average rating of “Hold” and a consensus price target of $38.65.
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Wolverine World Wide Company Profile
Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories. The company operates through three segments: Wolverine Outdoor & Lifestyle Group, Wolverine Boston Group, and Wolverine Heritage Group. It offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; kids' footwear; industrial work boots and apparel; and uniform shoes and boots.
Further Reading: No Load Funds
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