Fmr LLC Sells 170,138 Shares of Wolverine World Wide, Inc. (WWW)

Fmr LLC lessened its stake in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 5.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,031,901 shares of the textile maker’s stock after selling 170,138 shares during the quarter. Fmr LLC owned 3.19% of Wolverine World Wide worth $105,419,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Piedmont Investment Advisors LLC lifted its stake in shares of Wolverine World Wide by 7.4% during the second quarter. Piedmont Investment Advisors LLC now owns 22,040 shares of the textile maker’s stock worth $766,000 after purchasing an additional 1,519 shares in the last quarter. Aperio Group LLC lifted its stake in shares of Wolverine World Wide by 3.1% during the second quarter. Aperio Group LLC now owns 51,552 shares of the textile maker’s stock worth $1,792,000 after purchasing an additional 1,551 shares in the last quarter. Amalgamated Bank lifted its stake in shares of Wolverine World Wide by 12.5% during the second quarter. Amalgamated Bank now owns 15,082 shares of the textile maker’s stock worth $524,000 after purchasing an additional 1,672 shares in the last quarter. Phocas Financial Corp. lifted its stake in shares of Wolverine World Wide by 1.0% during the second quarter. Phocas Financial Corp. now owns 184,098 shares of the textile maker’s stock worth $6,401,000 after purchasing an additional 1,841 shares in the last quarter. Finally, Eagle Boston Investment Management Inc. lifted its stake in shares of Wolverine World Wide by 3.9% during the second quarter. Eagle Boston Investment Management Inc. now owns 58,089 shares of the textile maker’s stock worth $2,019,000 after purchasing an additional 2,206 shares in the last quarter. Institutional investors own 92.94% of the company’s stock.

NYSE:WWW opened at $33.82 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.86 and a current ratio of 2.65. Wolverine World Wide, Inc. has a one year low of $26.81 and a one year high of $39.77. The stock has a market capitalization of $3.44 billion, a P/E ratio of 20.62, a price-to-earnings-growth ratio of 1.70 and a beta of 1.11.

Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings data on Wednesday, November 7th. The textile maker reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.06. The firm had revenue of $558.60 million during the quarter, compared to analyst estimates of $584.25 million. Wolverine World Wide had a return on equity of 18.58% and a net margin of 2.83%. Wolverine World Wide’s quarterly revenue was down 3.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.43 earnings per share. As a group, equities research analysts predict that Wolverine World Wide, Inc. will post 2.13 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 1st. Investors of record on Wednesday, January 2nd will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Monday, December 31st. Wolverine World Wide’s dividend payout ratio is currently 19.51%.

Several research analysts recently commented on the company. ValuEngine upgraded Wolverine World Wide from a “hold” rating to a “buy” rating in a research note on Thursday, July 19th. Argus boosted their price target on Wolverine World Wide from $40.00 to $44.00 and gave the stock a “buy” rating in a research note on Friday, August 17th. Zacks Investment Research upgraded Wolverine World Wide from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research note on Friday, August 10th. Robert W. Baird reiterated a “buy” rating and issued a $43.00 price target on shares of Wolverine World Wide in a research note on Friday, August 10th. Finally, DA Davidson set a $44.00 price target on Wolverine World Wide and gave the stock a “buy” rating in a research note on Thursday, August 9th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $39.42.

In related news, insider Michael Jeppesen sold 49,151 shares of the business’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $37.77, for a total value of $1,856,433.27. Following the completion of the sale, the insider now directly owns 156,470 shares of the company’s stock, valued at $5,909,871.90. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Richard Woodworth sold 19,376 shares of the business’s stock in a transaction dated Friday, August 31st. The shares were sold at an average price of $38.73, for a total value of $750,432.48. Following the completion of the sale, the insider now directly owns 123,040 shares of the company’s stock, valued at $4,765,339.20. The disclosure for this sale can be found here. 5.81% of the stock is owned by insiders.

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

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