Schwab Charles Investment Management Inc. Has $18.50 Million Stake in Wolverine World Wide, Inc. (WWW)
Schwab Charles Investment Management Inc. increased its stake in Wolverine World Wide, Inc. (NYSE:WWW) by 5.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 641,351 shares of the textile maker’s stock after acquiring an additional 35,585 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.67% of Wolverine World Wide worth $18,503,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of Montreal Can raised its stake in shares of Wolverine World Wide by 1.3% in the second quarter. Bank of Montreal Can now owns 4,904 shares of the textile maker’s stock valued at $138,000 after acquiring an additional 64 shares in the last quarter. Everence Capital Management Inc. acquired a new stake in shares of Wolverine World Wide in the second quarter valued at $202,000. Riverhead Capital Management LLC raised its stake in shares of Wolverine World Wide by 62.2% in the second quarter. Riverhead Capital Management LLC now owns 7,625 shares of the textile maker’s stock valued at $214,000 after acquiring an additional 2,925 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of Wolverine World Wide in the second quarter valued at $221,000. Finally, Miles Capital Inc. acquired a new stake in shares of Wolverine World Wide in the second quarter valued at $222,000. Institutional investors and hedge funds own 92.47% of the company’s stock.
Several brokerages have recently issued reports on WWW. Stifel Nicolaus set a $34.00 price objective on Wolverine World Wide and gave the company a “buy” rating in a research note on Saturday. Pivotal Research initiated coverage on Wolverine World Wide in a report on Thursday, October 5th. They issued a “hold” rating and a $32.00 target price on the stock. KeyCorp reissued a “hold” rating on shares of Wolverine World Wide in a report on Wednesday, October 11th. Telsey Advisory Group increased their target price on Wolverine World Wide from $29.00 to $30.00 and gave the company a “market perform” rating in a report on Thursday, November 9th. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $26.00 target price on shares of Wolverine World Wide in a report on Wednesday, November 8th. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $27.25.
Wolverine World Wide, Inc. (WWW) opened at $31.03 on Wednesday. The company has a market capitalization of $2,947.92, a price-to-earnings ratio of 19.75, a P/E/G ratio of 1.51 and a beta of 0.96. The company has a quick ratio of 2.06, a current ratio of 3.09 and a debt-to-equity ratio of 0.74. Wolverine World Wide, Inc. has a twelve month low of $20.94 and a twelve month high of $31.32.
Wolverine World Wide (NYSE:WWW) last posted its earnings results on Wednesday, November 8th. The textile maker reported $0.43 EPS for the quarter, beating the consensus estimate of $0.37 by $0.06. The firm had revenue of $581.30 million for the quarter, compared to analyst estimates of $552.36 million. Wolverine World Wide had a return on equity of 15.25% and a net margin of 2.35%. Wolverine World Wide’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.49 earnings per share. equities analysts expect that Wolverine World Wide, Inc. will post 1.64 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Tuesday, January 2nd will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend is Friday, December 29th. Wolverine World Wide’s payout ratio is 40.00%.
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About Wolverine World Wide
Wolverine World Wide, Inc is a designer, manufacturer and marketer of a range of casual footwear and apparel, outdoor and athletic footwear and apparel, children’s footwear, industrial work boots and apparel, and uniform shoes and boots. It operates in four segments: Wolverine Outdoor & Lifestyle Group, which offers Merrell footwear and apparel, Cat footwear, Hush Puppies footwear and apparel, and Chaco footwear; Wolverine Boston Group, which offers Sperry footwear and apparel, Saucony footwear and apparel, and Keds footwear and apparel; Wolverine Heritage Group, which offers Wolverine footwear and apparel, Bates uniform footwear, Harley-Davidson footwear and HyTest safety footwear, and Wolverine Multi-Brand Group, which offers Stride Rite footwear and apparel, and its multi-brand consumer-direct businesses.
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