Public Employees Retirement System of Ohio Reduces Stock Position in Wolverine World Wide, Inc. (NYSE:WWW)

Public Employees Retirement System of Ohio trimmed its holdings in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 80.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,608 shares of the textile maker’s stock after selling 147,339 shares during the period. Public Employees Retirement System of Ohio’s holdings in Wolverine World Wide were worth $295,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Quarry LP purchased a new position in shares of Wolverine World Wide during the 2nd quarter worth approximately $43,000. Tower Research Capital LLC TRC grew its stake in Wolverine World Wide by 126.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,969 shares of the textile maker’s stock worth $44,000 after acquiring an additional 1,657 shares during the period. UBS Group AG grew its stake in Wolverine World Wide by 114.9% in the 3rd quarter. UBS Group AG now owns 6,315 shares of the textile maker’s stock worth $97,000 after acquiring an additional 3,376 shares during the period. First Republic Investment Management Inc. purchased a new stake in Wolverine World Wide in the 2nd quarter worth approximately $203,000. Finally, Point72 Middle East FZE purchased a new stake in Wolverine World Wide in the 4th quarter worth approximately $115,000. 90.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Telsey Advisory Group reiterated a “market perform” rating and issued a $10.00 price target on shares of Wolverine World Wide in a report on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat, Wolverine World Wide has an average rating of “Hold” and a consensus price target of $10.63.

Wolverine World Wide Stock Performance

Shares of WWW stock opened at $11.29 on Thursday. Wolverine World Wide, Inc. has a 12 month low of $7.21 and a 12 month high of $17.85. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.18 and a quick ratio of 0.75. The firm has a market capitalization of $901.78 million, a P/E ratio of -22.13 and a beta of 1.74. The company’s fifty day moving average price is $9.39 and its two-hundred day moving average price is $8.79.

Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings data on Wednesday, February 21st. The textile maker reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.03). Wolverine World Wide had a positive return on equity of 1.45% and a negative net margin of 1.77%. The firm had revenue of $526.70 million during the quarter, compared to analyst estimates of $520.12 million. During the same quarter in the prior year, the firm earned ($0.15) EPS. The business’s quarterly revenue was down 20.8% compared to the same quarter last year. On average, research analysts anticipate that Wolverine World Wide, Inc. will post 0.77 earnings per share for the current fiscal year.

Wolverine World Wide Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 1st will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 3.54%. The ex-dividend date of this dividend is Thursday, March 28th. Wolverine World Wide’s payout ratio is currently -78.43%.

Wolverine World Wide Profile

Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories in the United States, Europe, the Middle East, Africa, the Asia Pacific, Canada and Latin America. It operates through Active Group and Work Group segments. The company offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; kids' footwear; industrial work boots and apparel; and uniform shoes and boots.