HPM Partners LLC lessened its stake in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 22.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,006 shares of the textile maker’s stock after selling 7,016 shares during the period. HPM Partners LLC’s holdings in Wolverine World Wide were worth $765,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in WWW. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Wolverine World Wide by 50.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,883 shares of the textile maker’s stock valued at $156,000 after purchasing an additional 1,646 shares during the last quarter. Public Employees Retirement Association of Colorado acquired a new position in Wolverine World Wide during the fourth quarter valued at approximately $171,000. Community Financial Services Group LLC acquired a new position in Wolverine World Wide during the fourth quarter valued at approximately $212,000. Fox Run Management L.L.C. acquired a new position in Wolverine World Wide during the fourth quarter valued at approximately $308,000. Finally, Investors Research Corp acquired a new position in Wolverine World Wide during the fourth quarter valued at approximately $312,000. Institutional investors own 95.55% of the company’s stock.
Several equities analysts have commented on WWW shares. Stifel Nicolaus set a $34.00 price target on Wolverine World Wide and gave the company a “buy” rating in a report on Saturday, December 16th. Zacks Investment Research downgraded Wolverine World Wide from a “buy” rating to a “hold” rating in a report on Saturday, January 6th. Pivotal Research downgraded Wolverine World Wide from a “buy” rating to a “hold” rating and set a $33.00 price target on the stock. in a report on Friday, February 9th. Citigroup reiterated a “neutral” rating and set a $32.00 price target (up previously from $29.00) on shares of Wolverine World Wide in a report on Monday, February 12th. Finally, DA Davidson upgraded Wolverine World Wide from a “neutral” rating to a “buy” rating and set a $36.00 price target on the stock in a report on Thursday, February 22nd. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $28.88.
Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings data on Wednesday, February 21st. The textile maker reported $0.41 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.41. The business had revenue of $578.60 million for the quarter, compared to the consensus estimate of $579.87 million. Wolverine World Wide had a net margin of 0.01% and a return on equity of 16.20%. Wolverine World Wide’s quarterly revenue was down 20.7% on a year-over-year basis. During the same quarter last year, the company posted $0.34 earnings per share. research analysts expect that Wolverine World Wide, Inc. will post 2.02 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Monday, April 2nd will be paid a $0.08 dividend. This is an increase from Wolverine World Wide’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Thursday, March 29th. This represents a $0.32 annualized dividend and a dividend yield of 1.09%. Wolverine World Wide’s dividend payout ratio (DPR) is presently -800.00%.
In other news, insider James D. Zwiers sold 100,600 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $29.79, for a total value of $2,996,874.00. Following the sale, the insider now owns 190,893 shares in the company, valued at $5,686,702.47. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 5.65% of the company’s stock.
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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, 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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