Wolverine World Wide, Inc. (NYSE:WWW) Shares Sold by Hancock Whitney Corp

Hancock Whitney Corp decreased its stake in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 1.2% in the first quarter, HoldingsChannel reports. The institutional investor owned 40,007 shares of the textile maker’s stock after selling 500 shares during the period. Hancock Whitney Corp’s holdings in Wolverine World Wide were worth $1,430,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in WWW. Oregon Public Employees Retirement Fund purchased a new position in shares of Wolverine World Wide in the 4th quarter worth approximately $36,000. Quadrant Capital Group LLC lifted its stake in Wolverine World Wide by 216.5% during the 1st quarter. Quadrant Capital Group LLC now owns 2,453 shares of the textile maker’s stock valued at $85,000 after acquiring an additional 1,678 shares during the period. Pinnacle Financial Partners Inc. acquired a new stake in Wolverine World Wide during the 1st quarter valued at approximately $158,000. Investors Research Corp acquired a new stake in Wolverine World Wide during the 1st quarter valued at approximately $197,000. Finally, Papp L Roy & Associates acquired a new stake in Wolverine World Wide during the 1st quarter valued at approximately $218,000. Institutional investors own 91.83% of the company’s stock.

In related news, Director Jeffrey M. Boromisa purchased 10,000 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The stock was bought at an average price of $27.92 per share, with a total value of $279,200.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 4.93% of the stock is currently owned by insiders.

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

WWW opened at $27.83 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.48 and a debt-to-equity ratio of 0.64. Wolverine World Wide, Inc. has a 1 year low of $27.51 and a 1 year high of $39.77. The firm has a market capitalization of $2.45 billion, a P/E ratio of 12.82, a PEG ratio of 1.20 and a beta of 1.18.

Wolverine World Wide (NYSE:WWW) last posted its earnings results on Thursday, May 9th. The textile maker reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.02. Wolverine World Wide had a net margin of 8.70% and a return on equity of 20.97%. The firm had revenue of $523.40 million during the quarter, compared to analysts’ expectations of $535.82 million. During the same period in the previous year, the business posted $0.50 EPS. The business’s revenue was down 2.0% compared to the same quarter last year. As a group, equities research analysts forecast that Wolverine World Wide, Inc. will post 2.3 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Monday, July 1st will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.44%. The ex-dividend date is Friday, June 28th. Wolverine World Wide’s 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.

Further Reading: Why are trading ranges significant?

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

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