Bank of New York Mellon Corp Sells 27,433 Shares of Wolverine World Wide, Inc. (NYSE:WWW)

Bank of New York Mellon Corp lessened its holdings in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 4.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 632,412 shares of the textile maker’s stock after selling 27,433 shares during the quarter. Bank of New York Mellon Corp owned about 0.78% of Wolverine World Wide worth $8,797,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Proficio Capital Partners LLC bought a new stake in Wolverine World Wide in the 4th quarter worth approximately $315,000. Raymond James Financial Inc. purchased a new position in Wolverine World Wide in the 4th quarter worth approximately $2,914,000. HighTower Advisors LLC increased its stake in shares of Wolverine World Wide by 5.2% during the fourth quarter. HighTower Advisors LLC now owns 11,526 shares of the textile maker’s stock valued at $256,000 after buying an additional 574 shares during the period. Commonwealth Equity Services LLC bought a new position in shares of Wolverine World Wide during the fourth quarter valued at approximately $221,000. Finally, Natixis Advisors LLC raised its holdings in shares of Wolverine World Wide by 3.8% during the fourth quarter. Natixis Advisors LLC now owns 28,608 shares of the textile maker’s stock valued at $635,000 after acquiring an additional 1,035 shares in the last quarter. Institutional investors own 90.25% of the company’s stock.

Wolverine World Wide Trading Up 2.4%

WWW opened at $20.91 on Tuesday. The stock’s fifty day moving average is $18.00 and its two-hundred day moving average is $16.94. The company has a market capitalization of $1.69 billion, a P/E ratio of 24.04 and a beta of 1.70. Wolverine World Wide, Inc. has a 52 week low of $9.58 and a 52 week high of $24.64. 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 earnings results on Thursday, May 8th. The textile maker reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.07. The business had revenue of $412.30 million for the quarter, compared to analysts’ expectations of $395.94 million. Wolverine World Wide had a return on equity of 28.74% and a net margin of 4.15%. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.11 EPS. Analysts forecast that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current year.

Wolverine World Wide Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Tuesday, July 1st will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $0.40 annualized dividend and a dividend yield of 1.91%. Wolverine World Wide’s dividend payout ratio (DPR) is presently 45.98%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WWW. Argus raised Wolverine World Wide from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Friday, May 16th. Baird R W upgraded Wolverine World Wide from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 21st. Telsey Advisory Group reissued a “market perform” rating and issued a $17.00 price objective on shares of Wolverine World Wide in a report on Friday, May 9th. UBS Group boosted their price objective on shares of Wolverine World Wide from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Finally, Robert W. Baird boosted their price objective on shares of Wolverine World Wide from $15.00 to $20.00 and gave the company an “outperform” rating in a research report on Tuesday, May 6th. Two 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 company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $19.75.

Wolverine World Wide 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.