Teacher Retirement System of Texas raised its holdings in Wolverine World Wide, Inc. (NYSE:WWW) by 17.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 10,723 shares of the textile maker’s stock after acquiring an additional 1,607 shares during the period. Teacher Retirement System of Texas’ holdings in Wolverine World Wide were worth $361,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Rockefeller Capital Management L.P. raised its holdings in Wolverine World Wide by 1,786.5% in the 1st quarter. Rockefeller Capital Management L.P. now owns 698 shares of the textile maker’s stock valued at $26,000 after acquiring an additional 661 shares during the last quarter. Eaton Vance Management acquired a new stake in shares of Wolverine World Wide during the 1st quarter worth $26,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Wolverine World Wide during the 2nd quarter worth $28,000. Bessemer Group Inc. acquired a new stake in shares of Wolverine World Wide during the 1st quarter worth $44,000. Finally, Eagle Bay Advisors LLC acquired a new stake in shares of Wolverine World Wide during the 2nd quarter worth $59,000. Institutional investors own 91.20% of the company’s stock.
In related news, Director William K. Gerber sold 3,104 shares of the stock in a transaction dated Tuesday, August 10th. The shares were sold at an average price of $37.33, for a total transaction of $115,872.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP James D. Zwiers sold 2,806 shares of the stock in a transaction dated Wednesday, August 11th. The stock was sold at an average price of $36.76, for a total transaction of $103,148.56. The disclosure for this sale can be found here. Insiders have sold 8,141 shares of company stock worth $300,452 in the last ninety days. Corporate insiders own 4.73% of the company’s stock.
Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings results on Thursday, July 29th. The textile maker reported $0.67 EPS for the quarter, topping the consensus estimate of $0.47 by $0.20. Wolverine World Wide had a negative net margin of 3.06% and a positive return on equity of 20.83%. As a group, research analysts forecast that Wolverine World Wide, Inc. will post 2.31 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 1st. Stockholders of record on Friday, October 1st will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, September 30th. This represents a $0.40 annualized dividend and a dividend yield of 1.20%. Wolverine World Wide’s payout ratio is 43.01%.
A number of analysts have recently commented on WWW shares. TheStreet downgraded Wolverine World Wide from a “b-” rating to a “c” rating in a report on Thursday, June 24th. Robert W. Baird upped their price objective on Wolverine World Wide from $45.00 to $49.00 and gave the stock an “outperform” rating in a report on Wednesday, August 4th. Exane BNP Paribas upgraded Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $45.00 price objective for the company in a report on Tuesday, August 10th. BNP Paribas raised shares of Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $45.00 price target for the company in a research report on Tuesday, August 10th. Finally, Argus upped their price objective on shares of Wolverine World Wide from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, May 18th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $40.27.
Wolverine World Wide Profile
Wolverine World Wide, Inc engages in the design, manufacture and sale of branded casual, active lifestyle, work, outdoor sport, athletic, children’s and uniform footwear and apparel. It operates through the following segments: Wolverine Michigan Group and Wolverine Boston Group. The Wolverine Michigan Group consists of Merrell footwear and apparel, Cat footwear, Wolverine footwear and apparel, Chaco footwear, Hush Puppies footwear and apparel, Bates uniform footwear, Harley-Davidson footwear and Hytest safety footwear.
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