Wolverine World Wide, Inc. (WWW) Position Lessened by Profund Advisors LLC
Profund Advisors LLC cut its holdings in Wolverine World Wide, Inc. (NYSE:WWW) by 27.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,739 shares of the textile maker’s stock after selling 5,919 shares during the quarter. Profund Advisors LLC’s holdings in Wolverine World Wide were worth $441,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also bought and sold shares of WWW. Bank of Montreal Can increased its holdings in Wolverine World Wide by 15.1% during the 1st quarter. Bank of Montreal Can now owns 4,840 shares of the textile maker’s stock valued at $121,000 after purchasing an additional 635 shares during the period. Everence Capital Management Inc. bought a new position in Wolverine World Wide during the 2nd quarter valued at approximately $202,000. Papp L Roy & Associates bought a new position in Wolverine World Wide during the 2nd quarter valued at approximately $204,000. Riverhead Capital Management LLC raised its position in Wolverine World Wide by 62.2% during the 2nd quarter. Riverhead Capital Management LLC now owns 7,625 shares of the textile maker’s stock valued at $214,000 after purchasing an additional 2,925 shares during the last quarter. Finally, Teacher Retirement System of Texas bought a new position in Wolverine World Wide during the 2nd quarter valued at approximately $221,000. 90.84% of the stock is currently owned by institutional investors.
WWW has been the topic of a number of recent analyst reports. ValuEngine lowered Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Thursday, August 24th. Morgan Stanley upped their target price on Wolverine World Wide from $22.50 to $24.50 and gave the company an “equal weight” rating in a report on Monday, September 25th. BidaskClub upgraded Wolverine World Wide from a “hold” rating to a “buy” rating in a report on Saturday, July 1st. Robert W. Baird reaffirmed a “buy” rating and issued a $32.00 price target on shares of Wolverine World Wide in a research note on Sunday, September 17th. Finally, Zacks Investment Research raised Wolverine World Wide from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a research note on Saturday, August 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $24.19.
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Shares of Wolverine World Wide, Inc. (WWW) opened at 29.44 on Tuesday. The company’s 50 day moving average price is $26.95 and its 200 day moving average price is $26.15. Wolverine World Wide, Inc. has a 52-week low of $20.58 and a 52-week high of $29.61. The company has a market capitalization of $2.84 billion, a price-to-earnings ratio of 34.59 and a beta of 0.98.
Wolverine World Wide (NYSE:WWW) last issued its earnings results on Wednesday, August 9th. The textile maker reported $0.43 EPS for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.14. The business had revenue of $598.80 million for the quarter, compared to the consensus estimate of $573.78 million. Wolverine World Wide had a net margin of 3.32% and a return on equity of 15.81%. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.26 EPS. On average, analysts predict that Wolverine World Wide, Inc. will post $1.62 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Monday, October 2nd will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, September 29th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.82%. Wolverine World Wide’s payout ratio is 28.24%.
Wolverine World Wide Company Profile
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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