Magnus Financial Group LLC Sells 1,095 Shares of Wolverine World Wide, Inc. (WWW)

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Magnus Financial Group LLC trimmed its holdings in Wolverine World Wide, Inc. (NYSE:WWW) by 13.1% in the first quarter, Holdings Channel reports. The fund owned 7,270 shares of the textile maker’s stock after selling 1,095 shares during the period. Magnus Financial Group LLC’s holdings in Wolverine World Wide were worth $260,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Papp L Roy & Associates purchased a new position in Wolverine World Wide during the 1st quarter valued at $218,000. Piedmont Investment Advisors Inc. increased its position in Wolverine World Wide by 2.2% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 23,010 shares of the textile maker’s stock valued at $822,000 after purchasing an additional 485 shares during the period. New York State Common Retirement Fund increased its position in Wolverine World Wide by 0.4% during the 1st quarter. New York State Common Retirement Fund now owns 677,600 shares of the textile maker’s stock valued at $24,211,000 after purchasing an additional 3,033 shares during the period. Oregon Public Employees Retirement Fund increased its position in Wolverine World Wide by 1.8% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 36,731 shares of the textile maker’s stock valued at $1,312,000 after purchasing an additional 663 shares during the period. Finally, Sawgrass Asset Management LLC increased its position in Wolverine World Wide by 24.3% during the 1st quarter. Sawgrass Asset Management LLC now owns 29,220 shares of the textile maker’s stock valued at $1,044,000 after purchasing an additional 5,715 shares during the period. Hedge funds and other institutional investors own 95.16% of the company’s stock.

In related news, Director David T. Kollat sold 9,870 shares of the stock in a transaction dated Wednesday, February 27th. The shares were sold at an average price of $35.94, for a total transaction of $354,727.80. Following the sale, the director now directly owns 238,332 shares of the company’s stock, valued at approximately $8,565,652.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.93% of the stock is owned by corporate insiders.

A number of research analysts have issued reports on the stock. ValuEngine downgraded shares of Wolverine World Wide from a “hold” rating to a “sell” rating in a research report on Monday, May 20th. Argus downgraded shares of Wolverine World Wide from a “buy” rating to a “hold” rating and set a $29.19 target price on the stock. in a research report on Friday, May 17th. DA Davidson set a $40.00 target price on shares of Wolverine World Wide and gave the stock a “buy” rating in a research report on Friday, May 10th. Zacks Investment Research downgraded shares of Wolverine World Wide from a “hold” rating to a “sell” rating in a research report on Monday, April 22nd. Finally, Wedbush reaffirmed an “outperform” rating on shares of Wolverine World Wide in a research report on Thursday, February 21st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $38.65.

Shares of NYSE:WWW traded up $0.30 during midday trading on Friday, reaching $29.18. The company’s stock had a trading volume of 703,629 shares, compared to its average volume of 919,769. The company has a market capitalization of $2.59 billion, a PE ratio of 13.45, a P/E/G ratio of 1.31 and a beta of 0.96. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.48 and a quick ratio of 0.85. Wolverine World Wide, Inc. has a 12-month low of $28.97 and a 12-month high of $39.77.

Wolverine World Wide (NYSE:WWW) last released its earnings results on Thursday, May 9th. The textile maker reported $0.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.02. The firm had revenue of $523.40 million for the quarter, compared to the consensus estimate of $535.82 million. Wolverine World Wide had a net margin of 8.70% and a return on equity of 20.97%. The company’s revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.50 EPS. Equities analysts anticipate that Wolverine World Wide, Inc. will post 2.3 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Monday, July 1st will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend is Friday, June 28th. Wolverine World Wide’s dividend payout ratio is presently 18.43%.

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Wolverine World Wide Company Profile

Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories. The company operates through three segments: Wolverine Outdoor & Lifestyle Group, Wolverine Boston Group, and Wolverine Heritage Group. It offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; kids' footwear; industrial work boots and apparel; and uniform shoes and boots.

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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).

Institutional Ownership by Quarter for Wolverine World Wide (NYSE:WWW)

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