Prudential Financial Inc. reduced its stake in shares of Wolverine World Wide Inc. (NYSE:WWW) by 14.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 743,292 shares of the company’s stock after selling 129,900 shares during the period. Prudential Financial Inc. owned 0.75% of Wolverine World Wide worth $15,104,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Goldman Sachs Group Inc. boosted its position in shares of Wolverine World Wide by 25.5% in the first quarter. Goldman Sachs Group Inc. now owns 570,422 shares of the company’s stock valued at $10,508,000 after buying an additional 115,781 shares in the last quarter. AXA boosted its stake in Wolverine World Wide by 23.0% in the first quarter. AXA now owns 371,010 shares of the company’s stock valued at $6,834,000 after buying an additional 69,430 shares during the period. State Street Corp boosted its stake in Wolverine World Wide by 1.7% in the first quarter. State Street Corp now owns 2,155,090 shares of the company’s stock valued at $39,694,000 after buying an additional 35,357 shares during the period. Kempen Capital Management N.V. purchased a new stake in Wolverine World Wide during the first quarter valued at about $253,000. Finally, Canada Pension Plan Investment Board boosted its stake in Wolverine World Wide by 13.7% in the first quarter. Canada Pension Plan Investment Board now owns 806,400 shares of the company’s stock valued at $14,854,000 after buying an additional 97,400 shares during the period. 89.69% of the stock is owned by institutional investors.
Shares of Wolverine World Wide Inc. (NYSE:WWW) opened at 23.03 on Friday. The company’s 50-day moving average is $23.51 and its 200-day moving average is $20.73. Wolverine World Wide Inc. has a 12-month low of $14.74 and a 12-month high of $25.54. The stock has a market cap of $2.29 billion, a P/E ratio of 23.33 and a beta of 0.79.
Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.02. The business earned $583.70 million during the quarter, compared to analyst estimates of $578.99 million. Wolverine World Wide had a net margin of 3.81% and a return on equity of 13.60%. The firm’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.27 earnings per share. On average, analysts expect that Wolverine World Wide Inc. will post $1.37 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Monday, October 3rd will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend is Thursday, September 29th. Wolverine World Wide’s dividend payout ratio is currently 24.49%.
WWW has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Wolverine World Wide from a “hold” rating to a “sell” rating in a research report on Thursday, July 21st. TheStreet raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating in a research report on Tuesday, June 21st. Telsey Advisory Group lifted their price objective on shares of Wolverine World Wide from $20.00 to $23.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 27th. Susquehanna initiated coverage on shares of Wolverine World Wide in a research report on Friday, August 12th. They set a “negative” rating and a $20.00 price objective for the company. Finally, Argus reaffirmed a “buy” rating on shares of Wolverine World Wide in a research report on Wednesday, August 3rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $21.55.
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. The Company’s products are marketed around the world in approximately 200 countries and territories through Company-owned wholesale and consumer-direct operations, and third-party licensees and distributors.
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