Wolverine World Wide, Inc. (NYSE:WWW) Shares Sold by Raymond James & Associates

Raymond James & Associates reduced its position in Wolverine World Wide, Inc. (NYSE:WWW) by 12.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 48,157 shares of the textile maker’s stock after selling 6,856 shares during the quarter. Raymond James & Associates owned about 0.06% of Wolverine World Wide worth $428,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Callodine Capital Management LP acquired a new stake in shares of Wolverine World Wide in the 3rd quarter worth $8,060,000. Wolverine Asset Management LLC increased its stake in shares of Wolverine World Wide by 493.5% in the 3rd quarter. Wolverine Asset Management LLC now owns 193,757 shares of the textile maker’s stock worth $1,562,000 after acquiring an additional 161,109 shares during the last quarter. Invesco Ltd. increased its stake in shares of Wolverine World Wide by 21.7% in the 3rd quarter. Invesco Ltd. now owns 799,375 shares of the textile maker’s stock worth $6,443,000 after acquiring an additional 142,646 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Wolverine World Wide by 18.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,668,623 shares of the textile maker’s stock worth $13,449,000 after acquiring an additional 255,872 shares during the last quarter. Finally, Swiss National Bank increased its stake in shares of Wolverine World Wide by 1.0% in the 3rd quarter. Swiss National Bank now owns 174,600 shares of the textile maker’s stock worth $1,407,000 after acquiring an additional 1,700 shares during the last quarter. 90.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Wolverine World Wide Stock Up 3.9 %

Shares of NYSE:WWW opened at $10.90 on Friday. The company has a market capitalization of $871.02 million, a price-to-earnings ratio of -21.37 and a beta of 1.75. The company has a current ratio of 1.18, a quick ratio of 0.75 and a debt-to-equity ratio of 2.02. The business has a 50-day moving average price of $10.02 and a 200 day moving average price of $9.09. Wolverine World Wide, Inc. has a 12-month low of $7.21 and a 12-month high of $17.85.

Wolverine World Wide (NYSE:WWW) last released its 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 during the quarter, compared to analyst estimates 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 business’s revenue was down 20.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.15) earnings per share. Sell-side analysts expect that Wolverine World Wide, Inc. will post 0.77 EPS for the current year.

Wolverine World Wide Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 1st will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 3.67%. The ex-dividend date of this dividend is Thursday, March 28th. Wolverine World Wide’s dividend payout ratio is currently -78.43%.

Wolverine World Wide Company 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.