OppenheimerFunds Inc. trimmed its stake in Wolverine World Wide, Inc. (NYSE:WWW) by 15.2% during the 4th quarter, Holdings Channel reports. The firm owned 54,878 shares of the textile maker’s stock after selling 9,826 shares during the quarter. OppenheimerFunds Inc.’s holdings in Wolverine World Wide were worth $1,749,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Wolverine World Wide by 50.8% in the fourth 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 last quarter. Public Employees Retirement Association of Colorado bought a new position in shares of Wolverine World Wide in the fourth quarter worth approximately $171,000. Community Financial Services Group LLC bought a new position in shares of Wolverine World Wide in the fourth quarter worth approximately $212,000. Fox Run Management L.L.C. bought a new position in shares of Wolverine World Wide in the fourth quarter worth approximately $308,000. Finally, Engineers Gate Manager LP bought a new position in shares of Wolverine World Wide in the fourth quarter worth approximately $371,000. Institutional investors own 95.55% of the company’s stock.
In other Wolverine World Wide news, insider James D. Zwiers sold 100,600 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $29.79, for a total transaction of $2,996,874.00. Following the transaction, the insider now directly owns 190,893 shares in the company, valued at $5,686,702.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.65% of the stock is owned by company insiders.
Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings results on Wednesday, February 21st. The textile maker reported $0.41 EPS for the quarter, meeting analysts’ consensus estimates of $0.41. Wolverine World Wide had a net margin of 0.01% and a return on equity of 16.20%. The business had revenue of $578.60 million for the quarter, compared to analysts’ expectations of $579.87 million. During the same period last year, the business earned $0.34 earnings per share. The business’s quarterly revenue was down 20.7% on a year-over-year basis. equities research analysts predict that Wolverine World Wide, Inc. will post 2.02 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Monday, April 2nd will be given a dividend of $0.08 per share. This is a boost from Wolverine World Wide’s previous quarterly dividend of $0.06. This represents a $0.32 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend is Thursday, March 29th. Wolverine World Wide’s dividend payout ratio (DPR) is presently 800.00%.
Several research analysts recently weighed in on WWW shares. Stifel Nicolaus set a $34.00 price objective on shares of Wolverine World Wide and gave the stock a “buy” rating in a research report on Saturday, December 16th. Zacks Investment Research cut shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Saturday, January 6th. Pivotal Research cut shares of Wolverine World Wide from a “buy” rating to a “hold” rating and set a $33.00 price objective on the stock. in a research report on Friday, February 9th. Citigroup upped their price objective on shares of Wolverine World Wide from $32.00 to $33.00 and gave the stock a “neutral” rating in a research report on Thursday, February 22nd. Finally, DA Davidson upgraded shares of Wolverine World Wide from a “neutral” rating to a “buy” rating and set a $36.00 price objective on the stock in a research report on Thursday, February 22nd. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $28.88.
Wolverine World Wide 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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