Keybank National Association OH reduced its position in Wolverine World Wide, Inc. (NYSE:WWW) by 5.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 41,370 shares of the textile maker’s stock after selling 2,580 shares during the period. Keybank National Association OH’s holdings in Wolverine World Wide were worth $1,478,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Quadrant Capital Group LLC lifted its position in Wolverine World Wide by 216.5% during the first quarter. Quadrant Capital Group LLC now owns 2,453 shares of the textile maker’s stock worth $85,000 after acquiring an additional 1,678 shares during the last quarter. Huntington National Bank lifted its position in Wolverine World Wide by 77.2% during the fourth quarter. Huntington National Bank now owns 2,929 shares of the textile maker’s stock worth $93,000 after acquiring an additional 1,276 shares during the last quarter. Pinnacle Financial Partners Inc. acquired a new stake in Wolverine World Wide during the first quarter worth approximately $158,000. Investors Research Corp acquired a new stake in Wolverine World Wide during the first quarter worth approximately $197,000. Finally, BT Wealth Management LLC acquired a new stake in Wolverine World Wide during the fourth quarter worth approximately $268,000. Institutional investors and hedge funds own 91.83% of the company’s stock.
WWW has been the subject of several research reports. Wedbush restated an “outperform” rating on shares of Wolverine World Wide in a research report on Thursday, February 21st. Argus downgraded shares of Wolverine World Wide from a “buy” rating to a “hold” rating and set a $29.19 price objective for the company. in a research report on Friday, May 17th. ValuEngine raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating in a report on Friday, February 15th. DA Davidson set a $40.00 target price on shares of Wolverine World Wide and gave the stock a “buy” rating in a report on Friday, May 10th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $38.00 target price (up from $35.00) on shares of Wolverine World Wide in a report on Tuesday, February 19th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $38.65.
Wolverine World Wide (NYSE:WWW) last announced its earnings results on Thursday, May 9th. The textile maker reported $0.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.02. Wolverine World Wide had a net margin of 8.70% and a return on equity of 20.97%. The company had revenue of $523.40 million for the quarter, compared to analysts’ expectations of $535.82 million. During the same period last year, the firm earned $0.50 earnings per share. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. As a group, equities analysts predict that Wolverine World Wide, Inc. will post 2.3 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Monday, July 1st will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.40 annualized dividend and a dividend yield of 1.37%. Wolverine World Wide’s dividend payout ratio is presently 18.43%.
In other news, Director David T. Kollat sold 9,870 shares of the firm’s stock in a transaction that occurred on Wednesday, February 27th. The shares were sold at an average price of $35.94, for a total transaction of $354,727.80. Following the transaction, the director now directly owns 238,332 shares of the company’s stock, valued at $8,565,652.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.93% of the stock is currently owned by company insiders.
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Wolverine World Wide 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.
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