Cape Cod Five Cents Savings Bank reduced its position in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 17.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 12,855 shares of the textile maker’s stock after selling 2,725 shares during the period. Cape Cod Five Cents Savings Bank’s holdings in Wolverine World Wide were worth $321,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in WWW. Legato Capital Management LLC boosted its stake in shares of Wolverine World Wide by 2,397.0% in the first quarter. Legato Capital Management LLC now owns 97,308 shares of the textile maker’s stock worth $3,897,000 after buying an additional 93,411 shares during the period. Bank of Montreal Can boosted 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 worth $121,000 after buying an additional 635 shares during the period. Macquarie Group Ltd. boosted its stake in shares of Wolverine World Wide by 5.5% in the fourth quarter. Macquarie Group Ltd. now owns 1,558,593 shares of the textile maker’s stock worth $34,211,000 after buying an additional 80,688 shares during the period. Teachers Advisors LLC boosted its stake in shares of Wolverine World Wide by 2.5% in the fourth quarter. Teachers Advisors LLC now owns 160,212 shares of the textile maker’s stock worth $3,517,000 after buying an additional 3,953 shares during the period. Finally, Norges Bank bought a new stake in shares of Wolverine World Wide during the fourth quarter worth $35,744,000. Hedge funds and other institutional investors own 91.68% of the company’s stock.
Wolverine World Wide, Inc. (NYSE:WWW) traded down 1.47% during trading on Friday, reaching $24.18. The company’s stock had a trading volume of 526,339 shares. Wolverine World Wide, Inc. has a 1-year low of $16.64 and a 1-year high of $26.41. The stock has a market cap of $2.34 billion, a P/E ratio of 27.14 and a beta of 0.65. The company’s 50 day moving average price is $24.81 and its 200-day moving average price is $23.40.
Wolverine World Wide (NYSE:WWW) last announced its earnings results on Wednesday, February 22nd. The textile maker reported $0.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.02. The firm had revenue of $729.60 million for the quarter, compared to the consensus estimate of $714.22 million. Wolverine World Wide had a return on equity of 13.38% and a net margin of 4.02%. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.33 EPS. Equities analysts forecast that Wolverine World Wide, Inc. will post $1.51 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 1st. Stockholders of record on Monday, April 3rd will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date is Thursday, March 30th. Wolverine World Wide’s dividend payout ratio is 23.30%.
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A number of brokerages have weighed in on WWW. TheStreet cut Wolverine World Wide from a “b-” rating to a “c+” rating in a research report on Wednesday, February 22nd. B. Riley reiterated a “neutral” rating and issued a $26.00 price target on shares of Wolverine World Wide in a research report on Saturday, February 25th. Piper Jaffray Companies set a $22.00 price target on Wolverine World Wide and gave the company a “hold” rating in a research report on Wednesday, February 22nd. Telsey Advisory Group boosted their price objective on Wolverine World Wide from $25.00 to $26.00 and gave the stock a “market perform” rating in a research note on Thursday, February 23rd. Finally, Zacks Investment Research lowered Wolverine World Wide from a “hold” rating to a “sell” rating in a research note on Tuesday, February 7th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $23.29.
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, Chaco footwear, and Sebago footwear and apparel; 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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