Comerica Bank decreased its stake in Wolverine World Wide, Inc. (NYSE:WWW) by 33.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,177 shares of the textile maker’s stock after selling 60,678 shares during the period. Comerica Bank owned 0.13% of Wolverine World Wide worth $3,263,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Glen Harbor Capital Management LLC raised its stake in shares of Wolverine World Wide by 16.7% in the first quarter. Glen Harbor Capital Management LLC now owns 4,158 shares of the textile maker’s stock valued at $104,000 after buying an additional 594 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Wolverine World Wide by 15.1% in the first quarter. Bank of Montreal Can now owns 4,840 shares of the textile maker’s stock valued at $121,000 after buying an additional 635 shares in the last quarter. Elkfork Partners LLC raised its stake in shares of Wolverine World Wide by 16.7% in the first quarter. Elkfork Partners LLC now owns 5,292 shares of the textile maker’s stock valued at $132,000 after buying an additional 756 shares in the last quarter. Meadow Creek Investment Management LLC raised its stake in shares of Wolverine World Wide by 16.7% in the first quarter. Meadow Creek Investment Management LLC now owns 6,426 shares of the textile maker’s stock valued at $160,000 after buying an additional 918 shares in the last quarter. Finally, Advisory Services Network LLC bought a new stake in shares of Wolverine World Wide during the first quarter valued at approximately $198,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Wolverine World Wide, Inc. (NYSE:WWW) opened at 26.61 on Friday. The stock has a market capitalization of $2.57 billion, a P/E ratio of 31.27 and a beta of 0.94. The firm’s 50-day moving average is $26.96 and its 200 day moving average is $25.77. Wolverine World Wide, Inc. has a 12 month low of $20.58 and a 12 month high of $28.64.

Wolverine World Wide (NYSE:WWW) last issued its earnings results on Wednesday, August 9th. The textile maker reported $0.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.14. The company had revenue of $598.80 million for the quarter, compared to analysts’ expectations of $573.78 million. Wolverine World Wide had a net margin of 3.32% and a return on equity of 15.81%. The firm’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.26 earnings per share. On average, equities analysts anticipate that Wolverine World Wide, Inc. will post $1.61 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Monday, October 2nd will be issued a dividend of $0.06 per share. 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 0.90%. Wolverine World Wide’s dividend payout ratio (DPR) is 28.24%.

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Several equities research analysts recently commented on the stock. Zacks Investment Research upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research note on Saturday, August 12th. Wedbush lifted their price target on shares of Wolverine World Wide from $7.00 to $8.00 and gave the stock an “outperform” rating in a research note on Thursday, May 11th. BidaskClub lowered shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a research note on Wednesday, June 21st. Piper Jaffray Companies set a $25.00 price target on shares of Wolverine World Wide and gave the stock a “hold” rating in a research note on Wednesday, August 9th. Finally, ValuEngine upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating in a research note on Friday, August 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. Wolverine World Wide has an average rating of “Hold” and a consensus target price of $23.86.

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.

Institutional Ownership by Quarter for Wolverine World Wide (NYSE:WWW)

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