Amalgamated Bank raised its holdings in Wolverine World Wide, Inc. (NYSE:WWW) by 1.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,330 shares of the textile maker’s stock after purchasing an additional 246 shares during the quarter. Amalgamated Bank’s holdings in Wolverine World Wide were worth $373,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Bank of Montreal Can boosted its holdings in shares of Wolverine World Wide by 15.1% in the 1st quarter. Bank of Montreal Can now owns 4,840 shares of the textile maker’s stock valued at $121,000 after purchasing an additional 635 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Wolverine World Wide in the 1st quarter valued at $200,000. Everence Capital Management Inc. acquired a new stake in shares of Wolverine World Wide in the 2nd quarter valued at $202,000. Papp L Roy & Associates acquired a new stake in shares of Wolverine World Wide in the 2nd quarter valued at $204,000. Finally, Ronna Sue Cohen acquired a new stake in shares of Wolverine World Wide in the 1st quarter valued at $208,000. 90.84% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Wolverine World Wide, Inc. (NYSE:WWW) opened at 29.04 on Friday. Wolverine World Wide, Inc. has a 12-month low of $20.58 and a 12-month high of $29.62. The firm has a market cap of $2.81 billion, a P/E ratio of 34.12 and a beta of 0.98. The company’s 50 day moving average price is $27.23 and its 200 day moving average price is $26.24.
Wolverine World Wide (NYSE:WWW) last announced its earnings results on Wednesday, August 9th. The textile maker reported $0.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.14. Wolverine World Wide had a return on equity of 15.81% and a net margin of 3.32%. The business had revenue of $598.80 million during the quarter, compared to analysts’ expectations of $573.78 million. During the same quarter last year, the business posted $0.26 earnings per share. The company’s quarterly revenue was up 2.6% on a year-over-year basis. Equities research analysts forecast that Wolverine World Wide, Inc. will post $1.62 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Monday, October 2nd will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, September 29th. This represents a $0.24 annualized dividend and a yield of 0.83%. Wolverine World Wide’s dividend payout ratio is currently 28.24%.
A number of brokerages have weighed in on WWW. Pivotal Research began coverage on Wolverine World Wide in a report on Thursday. They issued a “hold” rating and a $32.00 target price on the stock. ValuEngine downgraded Wolverine World Wide from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. BidaskClub raised Wolverine World Wide from a “hold” rating to a “buy” rating in a report on Saturday, July 1st. Morgan Stanley raised their target price on Wolverine World Wide from $22.50 to $24.50 and gave the company an “equal weight” rating in a report on Monday, September 25th. Finally, Piper Jaffray Companies set a $25.00 target price on Wolverine World Wide and gave the company a “hold” rating in a report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. Wolverine World Wide presently has an average rating of “Hold” and a consensus target price of $25.06.
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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. 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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