Canada Pension Plan Investment Board purchased a new stake in shares of Wolverine World Wide, Inc. (NYSE:WWW) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 176,500 shares of the textile maker’s stock, valued at approximately $5,628,000. Canada Pension Plan Investment Board owned 0.19% of Wolverine World Wide at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC bought a new position in Wolverine World Wide in the 3rd quarter worth $110,000. Huntington National Bank raised its holdings in Wolverine World Wide by 77.2% in the 4th quarter. Huntington National Bank now owns 2,929 shares of the textile maker’s stock worth $93,000 after purchasing an additional 1,276 shares during the period. Tower Research Capital LLC TRC raised its holdings in Wolverine World Wide by 110.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,148 shares of the textile maker’s stock worth $201,000 after purchasing an additional 2,705 shares during the period. Raymond James & Associates bought a new position in Wolverine World Wide in the 2nd quarter worth $205,000. Finally, GAM Holding AG bought a new position in Wolverine World Wide in the 3rd quarter worth $271,000. 92.82% of the stock is currently owned by hedge funds and other institutional investors.
In other Wolverine World Wide news, VP Amy M. Klimek sold 7,500 shares of the stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $35.60, for a total value of $267,000.00. Following the completion of the sale, the vice president now owns 30,585 shares in the company, valued at approximately $1,088,826. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph R. Gromek sold 9,870 shares of the stock in a transaction on Monday, February 25th. The stock was sold at an average price of $36.02, for a total value of $355,517.40. Following the completion of the sale, the director now owns 49,310 shares of the company’s stock, valued at approximately $1,776,146.20. The disclosure for this sale can be found here. Insiders sold a total of 62,479 shares of company stock valued at $2,234,344 in the last quarter. 5.81% of the stock is currently owned by company insiders.
Shares of WWW stock opened at $35.76 on Friday. Wolverine World Wide, Inc. has a 52-week low of $27.93 and a 52-week high of $39.77. The company has a quick ratio of 1.75, a current ratio of 1.83 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $3.41 billion, a price-to-earnings ratio of 16.48, a price-to-earnings-growth ratio of 1.56 and a beta of 0.91.
Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings results on Wednesday, February 20th. The textile maker reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.03. Wolverine World Wide had a return on equity of 21.00% and a net margin of 8.90%. The business had revenue of $579.60 million during the quarter, compared to analyst estimates of $584.55 million. During the same quarter in the prior year, the business posted $0.41 EPS. Wolverine World Wide’s revenue for the quarter was up .2% compared to the same quarter last year. Analysts expect that Wolverine World Wide, Inc. will post 2.3 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 1st will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date is Friday, March 29th. This is a positive change from Wolverine World Wide’s previous quarterly dividend of $0.08. Wolverine World Wide’s dividend payout ratio is presently 14.75%.
A number of equities analysts recently commented on the company. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $38.00 target price (up from $35.00) on shares of Wolverine World Wide in a report on Tuesday, February 19th. Zacks Investment Research raised Wolverine World Wide from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a report on Saturday, February 16th. ValuEngine raised Wolverine World Wide from a “hold” rating to a “buy” rating in a report on Friday, February 15th. Pivotal Research reaffirmed a “hold” rating and issued a $37.00 target price on shares of Wolverine World Wide in a report on Monday, November 5th. Finally, Wedbush reaffirmed an “outperform” rating on shares of Wolverine World Wide in a report on Thursday, February 21st. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $40.36.
COPYRIGHT VIOLATION NOTICE: “176,500 Shares in Wolverine World Wide, Inc. (WWW) Acquired by Canada Pension Plan Investment Board” was reported by Transcript Daily and is owned by of Transcript Daily. If you are viewing this piece on another website, it was stolen and reposted in violation of US and international copyright laws. The correct version of this piece can be accessed at https://transcriptdaily.com/2019/03/01/176500-shares-in-wolverine-world-wide-inc-www-acquired-by-canada-pension-plan-investment-board-2.html.
About Wolverine World Wide
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.
Read More: What is the 52-week high/low?
Want to see what other hedge funds are holding WWW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wolverine World Wide, Inc. (NYSE:WWW).
Receive News & Ratings for Wolverine World Wide Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wolverine World Wide and related companies with MarketBeat.com's FREE daily email newsletter.