Earnest Partners LLC Sells 61,803 Shares of Wolverine World Wide, Inc. (NYSE:WWW)

Earnest Partners LLC cut its holdings in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 1.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,231,390 shares of the textile maker’s stock after selling 61,803 shares during the period. Earnest Partners LLC owned about 6.54% of Wolverine World Wide worth $58,644,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Texas Permanent School Fund Corp lifted its holdings in Wolverine World Wide by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 69,168 shares of the textile maker’s stock worth $775,000 after buying an additional 946 shares in the last quarter. ProShare Advisors LLC lifted its holdings in Wolverine World Wide by 7.5% during the 1st quarter. ProShare Advisors LLC now owns 15,708 shares of the textile maker’s stock worth $176,000 after buying an additional 1,090 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Wolverine World Wide by 42.5% during the 1st quarter. GAMMA Investing LLC now owns 4,504 shares of the textile maker’s stock worth $50,000 after buying an additional 1,343 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Wolverine World Wide by 15.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,873 shares of the textile maker’s stock worth $159,000 after buying an additional 2,390 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Wolverine World Wide by 5.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 56,307 shares of the textile maker’s stock worth $632,000 after buying an additional 2,907 shares in the last quarter. Institutional investors and hedge funds own 90.25% of the company’s stock.

Analysts Set New Price Targets

WWW has been the topic of several research reports. Robert W. Baird upped their price objective on Wolverine World Wide from $9.00 to $13.00 and gave the stock a “neutral” rating in a report on Thursday, May 9th. Telsey Advisory Group reissued a “market perform” rating and issued a $10.00 price target on shares of Wolverine World Wide in a research note on Wednesday, May 8th. Seaport Res Ptn raised Wolverine World Wide from a “neutral” rating to a “buy” rating in a research note on Monday, May 6th. Williams Trading raised Wolverine World Wide from a “hold” rating to a “buy” rating and increased their price target for the company from $11.00 to $16.00 in a research note on Thursday, May 9th. Finally, UBS Group raised Wolverine World Wide from a “neutral” rating to a “buy” rating and increased their price target for the company from $13.00 to $20.00 in a research note on Friday, July 19th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $12.44.

Wolverine World Wide Trading Up 0.2 %

Wolverine World Wide stock traded up $0.03 during mid-day trading on Monday, hitting $14.54. 614,849 shares of the company’s stock were exchanged, compared to its average volume of 1,014,992. The firm has a market capitalization of $1.16 billion, a P/E ratio of -15.68 and a beta of 1.76. Wolverine World Wide, Inc. has a fifty-two week low of $7.21 and a fifty-two week high of $14.97. The company has a quick ratio of 0.65, a current ratio of 1.13 and a debt-to-equity ratio of 2.24. The company’s 50 day simple moving average is $13.32 and its 200-day simple moving average is $11.16.

Wolverine World Wide (NYSE:WWW) last released its earnings results on Wednesday, May 8th. The textile maker reported $0.05 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.05. The firm had revenue of $394.90 million during the quarter, compared to analysts’ expectations of $360.31 million. Wolverine World Wide had a positive return on equity of 0.53% and a negative net margin of 3.59%. On average, equities analysts anticipate that Wolverine World Wide, Inc. will post 0.8 earnings per share for the current year.

Wolverine World Wide Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Monday, July 1st will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend is Monday, July 1st. Wolverine World Wide’s dividend payout ratio (DPR) is presently -43.01%.

Insiders Place Their Bets

In other Wolverine World Wide news, insider Isabel Soriano sold 3,201 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $13.89, for a total transaction of $44,461.89. Following the completion of the transaction, the insider now owns 26,519 shares in the company, valued at approximately $368,348.91. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.28% of the company’s stock.

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.