WCM Investment Management LLC Boosts Position in Wolverine World Wide, Inc. $WWW

WCM Investment Management LLC boosted its position in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 8.6% during the second quarter, Holdings Channel reports. The firm owned 565,746 shares of the textile maker’s stock after buying an additional 44,720 shares during the quarter. WCM Investment Management LLC’s holdings in Wolverine World Wide were worth $10,483,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of WWW. Vanguard Group Inc. lifted its position in shares of Wolverine World Wide by 0.5% in the first quarter. Vanguard Group Inc. now owns 9,005,788 shares of the textile maker’s stock valued at $125,271,000 after acquiring an additional 45,779 shares in the last quarter. Earnest Partners LLC lifted its position in shares of Wolverine World Wide by 0.8% in the first quarter. Earnest Partners LLC now owns 5,270,775 shares of the textile maker’s stock valued at $73,316,000 after acquiring an additional 41,857 shares in the last quarter. Callodine Capital Management LP lifted its position in shares of Wolverine World Wide by 60.2% in the first quarter. Callodine Capital Management LP now owns 3,047,071 shares of the textile maker’s stock valued at $42,385,000 after acquiring an additional 1,145,455 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Wolverine World Wide by 55.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,504,571 shares of the textile maker’s stock valued at $20,929,000 after acquiring an additional 537,854 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Wolverine World Wide by 1.1% in the first quarter. Northern Trust Corp now owns 1,017,233 shares of the textile maker’s stock valued at $14,150,000 after acquiring an additional 11,398 shares in the last quarter. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Stifel Nicolaus upped their price objective on Wolverine World Wide from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Wednesday, August 27th. Weiss Ratings restated a “hold (c)” rating on shares of Wolverine World Wide in a research report on Wednesday, October 8th. Telsey Advisory Group restated a “market perform” rating and issued a $29.00 price objective (up from $17.00) on shares of Wolverine World Wide in a research report on Wednesday, August 6th. UBS Group upped their price objective on Wolverine World Wide from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Finally, Wall Street Zen upgraded Wolverine World Wide from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Wolverine World Wide currently has an average rating of “Moderate Buy” and an average price target of $28.29.

Wolverine World Wide Stock Performance

NYSE WWW opened at $26.33 on Friday. The business’s 50-day moving average price is $28.83 and its 200 day moving average price is $21.08. Wolverine World Wide, Inc. has a twelve month low of $9.58 and a twelve month high of $32.80. The company has a market capitalization of $2.14 billion, a PE ratio of 25.81 and a beta of 1.81. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 1.58.

Wolverine World Wide (NYSE:WWW) last released its earnings results on Wednesday, August 6th. The textile maker reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.12. The firm 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 firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.15 earnings per share. On average, research analysts predict that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current year.

Wolverine World Wide Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Wednesday, October 1st will be paid a dividend of $0.10 per share. The ex-dividend date is Wednesday, October 1st. This represents a $0.40 annualized dividend and a yield of 1.5%. Wolverine World Wide’s dividend payout ratio is currently 39.22%.

Insider Activity

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

About Wolverine World Wide

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.