Optimize Financial Inc Buys 14,750 Shares of Wolverine World Wide, Inc. $WWW

Optimize Financial Inc grew its position in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 40.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,040 shares of the textile maker’s stock after buying an additional 14,750 shares during the period. Optimize Financial Inc owned 0.06% of Wolverine World Wide worth $705,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its position in Wolverine World Wide by 10.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,132 shares of the textile maker’s stock worth $127,000 after acquiring an additional 863 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Wolverine World Wide by 3.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,159 shares of the textile maker’s stock valued at $1,003,000 after purchasing an additional 1,495 shares during the period. Captrust Financial Advisors lifted its stake in shares of Wolverine World Wide by 6.6% in the 4th quarter. Captrust Financial Advisors now owns 26,834 shares of the textile maker’s stock valued at $596,000 after purchasing an additional 1,667 shares during the period. Rhumbline Advisers raised its stake in Wolverine World Wide by 0.8% during the first quarter. Rhumbline Advisers now owns 226,441 shares of the textile maker’s stock valued at $3,150,000 after buying an additional 1,852 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Wolverine World Wide during the fourth quarter valued at $64,000. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Insider Buying and Selling

In other news, Director Brenda J. Lauderback sold 12,854 shares of the company’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $32.14, for a total transaction of $413,127.56. Following the transaction, the director owned 48,675 shares of the company’s stock, valued at approximately $1,564,414.50. This represents a 20.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Nicholas T. Long sold 12,854 shares of the stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $31.84, for a total value of $409,271.36. Following the completion of the transaction, the director directly owned 76,268 shares in the company, valued at approximately $2,428,373.12. This trade represents a 14.42% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.28% of the company’s stock.

Wolverine World Wide Stock Performance

NYSE:WWW opened at $31.70 on Tuesday. The stock has a 50-day simple moving average of $25.28 and a two-hundred day simple moving average of $18.49. Wolverine World Wide, Inc. has a 52-week low of $9.58 and a 52-week high of $32.80. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.75 and a current ratio of 1.24. The firm has a market capitalization of $2.58 billion, a PE ratio of 31.08 and a beta of 1.80.

Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings data on Wednesday, August 6th. The textile maker reported $0.35 EPS for the quarter, beating the consensus estimate of $0.23 by $0.12. The business had revenue of $474.20 million for the quarter, compared to the consensus estimate of $447.82 million. Wolverine World Wide had a return on equity of 31.99% and a net margin of 4.73%.The business’s revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.15 earnings per share. Analysts forecast that Wolverine World Wide, Inc. will post 1.23 EPS for the current year.

Wolverine World Wide Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Wednesday, October 1st will be given a dividend of $0.10 per share. The ex-dividend date is Wednesday, October 1st. This represents a $0.40 dividend on an annualized basis and a yield of 1.3%. Wolverine World Wide’s dividend payout ratio is 39.22%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Telsey Advisory Group restated a “market perform” rating and issued a $29.00 price target (up previously from $17.00) on shares of Wolverine World Wide in a research note on Wednesday, August 6th. Argus raised Wolverine World Wide from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Friday, May 16th. UBS Group lifted their price objective on Wolverine World Wide from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Wall Street Zen raised Wolverine World Wide from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $32.00 price objective (up previously from $25.00) on shares of Wolverine World Wide in a report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $27.50.

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.