State of Alaska Department of Revenue Sells 1,198 Shares of Wolverine World Wide, Inc. (NYSE:WWW)

State of Alaska Department of Revenue reduced its holdings in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 2.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,365 shares of the textile maker’s stock after selling 1,198 shares during the period. State of Alaska Department of Revenue owned about 0.05% of Wolverine World Wide worth $617,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. grew its position in Wolverine World Wide by 70.0% during the fourth quarter. JPMorgan Chase & Co. now owns 2,425,858 shares of the textile maker’s stock valued at $53,854,000 after acquiring an additional 998,916 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Wolverine World Wide by 5.5% in 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 last quarter. Nuveen Asset Management LLC grew its holdings 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 worth $13,949,000 after purchasing an additional 403,176 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of Wolverine World Wide in the fourth quarter worth approximately $204,000. 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 worth $1,067,000 after purchasing an additional 29,072 shares during the last quarter. 90.25% of the stock is currently owned by institutional investors.

Wolverine World Wide Stock Performance

Shares of WWW stock opened at $18.54 on Friday. The stock has a fifty day moving average of $16.20 and a 200 day moving average of $17.32. Wolverine World Wide, Inc. has a 52 week low of $9.58 and a 52 week high of $24.64. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 21.31 and a beta of 1.71. The company has a quick ratio of 0.77, a current ratio of 1.26 and a debt-to-equity ratio of 1.76.

Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings data on Thursday, May 8th. The textile maker reported $0.18 EPS for the quarter, beating the consensus estimate of $0.11 by $0.07. The business had revenue of $412.30 million during the quarter, compared to analyst estimates of $395.94 million. Wolverine World Wide had a return on equity of 28.74% and a net margin of 4.15%. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.11 earnings per share. As a group, research analysts expect that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current year.

Wolverine World Wide Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 1st will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Tuesday, July 1st. Wolverine World Wide’s dividend payout ratio is currently 45.98%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on WWW. Argus upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Friday, May 16th. UBS Group raised their target price on shares of Wolverine World Wide from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Stifel Nicolaus cut their target price on shares of Wolverine World Wide from $27.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Telsey Advisory Group restated a “market perform” rating and issued a $17.00 target price on shares of Wolverine World Wide in a report on Friday, May 9th. Finally, Baird R W upgraded shares of Wolverine World Wide from a “hold” rating to a “strong-buy” rating in a report on Monday, April 21st. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $19.75.

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.