Wolverine World Wide, Inc. (NYSE:WWW) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System reduced its position in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 1.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 74,782 shares of the textile maker’s stock after selling 817 shares during the period. California State Teachers Retirement System owned about 0.09% of Wolverine World Wide worth $1,660,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. lifted its stake in Wolverine World Wide by 70.0% during the 4th quarter. JPMorgan Chase & Co. now owns 2,425,858 shares of the textile maker’s stock worth $53,854,000 after acquiring an additional 998,916 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Wolverine World Wide by 5.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,670,760 shares of the textile maker’s stock worth $37,091,000 after purchasing an additional 86,475 shares during the period. Savant Capital LLC acquired a new stake in shares of Wolverine World Wide during the fourth quarter worth about $205,000. Nuveen Asset Management LLC boosted its stake in shares of Wolverine World Wide by 179.1% in the fourth quarter. Nuveen Asset Management LLC now owns 628,338 shares of the textile maker’s stock valued at $13,949,000 after purchasing an additional 403,176 shares during the period. Finally, Amundi grew its holdings in shares of Wolverine World Wide by 161.5% in the fourth quarter. Amundi now owns 47,074 shares of the textile maker’s stock valued at $1,067,000 after purchasing an additional 29,072 shares in the last quarter. 90.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Robert W. Baird increased their target price on shares of Wolverine World Wide from $15.00 to $20.00 and gave the stock an “outperform” rating in a report on Tuesday, May 6th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $17.00 price objective on shares of Wolverine World Wide in a research report on Friday, May 9th. Stifel Nicolaus decreased their target price on Wolverine World Wide from $27.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Baird R W upgraded Wolverine World Wide from a “hold” rating to a “strong-buy” rating in a report on Monday, April 21st. Finally, Wall Street Zen lowered Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.75.

Wolverine World Wide Trading Up 3.4%

NYSE:WWW opened at $17.81 on Monday. Wolverine World Wide, Inc. has a 1 year low of $9.58 and a 1 year high of $24.64. The stock has a market cap of $1.44 billion, a P/E ratio of 32.37 and a beta of 1.71. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.77 and a current ratio of 1.29. The stock has a 50-day simple moving average of $14.22 and a 200-day simple moving average of $17.85.

Wolverine World Wide (NYSE:WWW) last posted its earnings results on Thursday, May 8th. The textile maker reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.07. The firm had revenue of $412.30 million during the quarter, compared to analysts’ expectations of $395.94 million. Wolverine World Wide had a return on equity of 26.81% and a net margin of 2.73%. The firm’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.11 earnings per share. As a group, analysts anticipate that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current fiscal year.

Wolverine World Wide Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Tuesday, July 1st will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date is Tuesday, July 1st. Wolverine World Wide’s dividend payout ratio (DPR) is currently 45.98%.

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.