Comerica Bank grew its position in Wolverine World Wide (NYSE:WWW) by 2.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 100,948 shares of the textile maker’s stock after acquiring an additional 2,664 shares during the quarter. Comerica Bank owned 0.11% of Wolverine World Wide worth $2,963,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Wolverine World Wide by 50.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,883 shares of the textile maker’s stock worth $156,000 after purchasing an additional 1,646 shares during the period. Public Employees Retirement Association of Colorado purchased a new position in shares of Wolverine World Wide in the 4th quarter worth approximately $171,000. Fox Run Management L.L.C. purchased a new position in shares of Wolverine World Wide in the 4th quarter worth approximately $308,000. Xact Kapitalforvaltning AB purchased a new position in shares of Wolverine World Wide in the 4th quarter worth approximately $310,000. Finally, Investors Research Corp purchased a new position in shares of Wolverine World Wide in the 4th quarter worth approximately $312,000. 96.70% of the stock is currently owned by institutional investors and hedge funds.
In other Wolverine World Wide news, insider James D. Zwiers sold 100,600 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $29.79, for a total value of $2,996,874.00. Following the completion of the sale, the insider now directly owns 190,893 shares in the company, valued at approximately $5,686,702.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Michael Jeppesen sold 47,640 shares of the company’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 disclosure for this sale can be found here. 5.81% of the stock is currently owned by corporate insiders.
A number of equities analysts have recently commented on WWW shares. Zacks Investment Research upgraded Wolverine World Wide from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a report on Thursday, February 15th. Citigroup restated a “neutral” rating and set a $32.00 price objective (up previously from $29.00) on shares of Wolverine World Wide in a report on Monday, February 12th. ValuEngine upgraded Wolverine World Wide from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Pivotal Research cut Wolverine World Wide from a “buy” rating to a “hold” rating and set a $33.00 price objective for the company. in a report on Friday, February 9th. Finally, DA Davidson upgraded Wolverine World Wide from a “neutral” rating to a “buy” rating and set a $36.00 price objective for the company in a report on Thursday, February 22nd. Eleven analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $32.05.
Wolverine World Wide opened at $32.93 on Tuesday, according to Marketbeat.com. Wolverine World Wide has a 52-week low of $24.81 and a 52-week high of $33.82. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.18 and a quick ratio of 2.13. The firm has a market cap of $3.06 billion, a P/E ratio of 20.08, a price-to-earnings-growth ratio of 1.57 and a beta of 0.96.
Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings data on Wednesday, May 9th. The textile maker reported $0.50 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $534.10 million during the quarter, compared to analysts’ expectations of $531.10 million. During the same quarter in the previous year, the business earned $0.37 EPS. Wolverine World Wide’s revenue was down 9.7% compared to the same quarter last year. research analysts forecast that Wolverine World Wide will post 2.06 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 1st. Shareholders of record on Monday, July 2nd will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.97%. The ex-dividend date is Friday, June 29th. Wolverine World Wide’s dividend payout ratio is 19.51%.
Wolverine World Wide Company 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.
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