Citigroup Inc. Decreases Stake in Wolverine World Wide, Inc. (NYSE:WWW)

Citigroup Inc. lessened its stake in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 47.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 32,638 shares of the textile maker’s stock after selling 28,942 shares during the quarter. Citigroup Inc.’s holdings in Wolverine World Wide were worth $263,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its holdings in Wolverine World Wide by 1.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 40,371 shares of the textile maker’s stock valued at $689,000 after buying an additional 729 shares during the last quarter. Select Equity Group L.P. raised its stake in shares of Wolverine World Wide by 1.5% during the first quarter. Select Equity Group L.P. now owns 62,000 shares of the textile maker’s stock valued at $1,057,000 after acquiring an additional 908 shares during the last quarter. Advisor Group Holdings Inc. boosted its holdings in shares of Wolverine World Wide by 6.7% during the first quarter. Advisor Group Holdings Inc. now owns 18,425 shares of the textile maker’s stock worth $415,000 after purchasing an additional 1,157 shares during the period. Teachers Retirement System of The State of Kentucky grew its stake in shares of Wolverine World Wide by 5.6% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 26,015 shares of the textile maker’s stock worth $382,000 after purchasing an additional 1,382 shares during the last quarter. Finally, UBS Asset Management Americas Inc. grew its stake in shares of Wolverine World Wide by 1.4% in the third quarter. UBS Asset Management Americas Inc. now owns 104,668 shares of the textile maker’s stock worth $1,611,000 after purchasing an additional 1,460 shares during the last quarter. Institutional investors own 90.25% of the company’s stock.

Wolverine World Wide Price Performance

WWW stock opened at $11.29 on Thursday. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.18 and a quick ratio of 0.75. Wolverine World Wide, Inc. has a 1 year low of $7.21 and a 1 year high of $17.85. The firm has a 50-day moving average of $9.39 and a 200 day moving average of $8.79. The company has a market cap of $901.78 million, a P/E ratio of -22.13 and a beta of 1.74.

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

Wolverine World Wide Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 1st will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, March 28th. This represents a $0.40 dividend on an annualized basis and a yield of 3.54%. Wolverine World Wide’s dividend payout ratio (DPR) is currently -78.43%.

Analysts Set New Price Targets

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

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.