JPMorgan Chase & Co. Sells 1,256,155 Shares of Wolverine World Wide, Inc. $WWW

JPMorgan Chase & Co. reduced its stake in Wolverine World Wide, Inc. (NYSE:WWW) by 39.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,947,274 shares of the textile maker’s stock after selling 1,256,155 shares during the period. JPMorgan Chase & Co.’s holdings in Wolverine World Wide were worth $53,433,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the company. Teacher Retirement System of Texas raised its stake in shares of Wolverine World Wide by 5.1% in the second quarter. Teacher Retirement System of Texas now owns 12,300 shares of the textile maker’s stock valued at $222,000 after acquiring an additional 595 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in Wolverine World Wide by 1.0% in the second quarter. Nisa Investment Advisors LLC now owns 58,586 shares of the textile maker’s stock worth $1,059,000 after purchasing an additional 599 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Wolverine World Wide by 1.3% during the second quarter. Thrivent Financial for Lutherans now owns 59,742 shares of the textile maker’s stock worth $1,074,000 after purchasing an additional 782 shares during the last quarter. Amalgamated Bank raised its stake in shares of Wolverine World Wide by 3.5% in the third quarter. Amalgamated Bank now owns 23,831 shares of the textile maker’s stock worth $654,000 after acquiring an additional 799 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey increased its holdings in shares of Wolverine World Wide by 5.6% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 18,073 shares of the textile maker’s stock valued at $327,000 after purchasing an additional 961 shares in the last quarter. Institutional investors and hedge funds own 90.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on WWW. Telsey Advisory Group restated a “market perform” rating and set a $18.00 target price on shares of Wolverine World Wide in a research report on Friday, February 20th. Wall Street Zen upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating in a report on Saturday, February 14th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Wolverine World Wide in a report on Monday, December 29th. BNP Paribas Exane lowered shares of Wolverine World Wide from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $38.00 to $19.00 in a research note on Thursday, January 22nd. Finally, KeyCorp decreased their price target on shares of Wolverine World Wide from $32.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $21.38.

Wolverine World Wide Stock Up 2.6%

Wolverine World Wide stock opened at $18.03 on Thursday. The company has a quick ratio of 0.79, a current ratio of 1.34 and a debt-to-equity ratio of 1.40. The stock has a market cap of $1.48 billion, a P/E ratio of 17.34 and a beta of 1.91. The company’s 50-day moving average price is $18.17 and its two-hundred day moving average price is $22.10. Wolverine World Wide, Inc. has a twelve month low of $9.58 and a twelve month high of $32.80.

Wolverine World Wide Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Wednesday, April 1st will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $0.40 annualized dividend and a dividend yield of 2.2%. Wolverine World Wide’s dividend payout ratio (DPR) is currently 38.46%.

About Wolverine World Wide

Wolverine World Wide, Inc (NYSE: WWW) is a global footwear and apparel company headquartered in Rockford, Michigan. The company designs, manufactures and markets a diversified portfolio of casual, active and performance lifestyle brands. Wolverine World Wide’s offerings span multiple price points and consumer segments, with products that include outdoor and trail footwear, running shoes, casual sneakers, boat shoes, work boots and related apparel and accessories.

Key brands in Wolverine World Wide’s portfolio include Merrell, an outdoor performance footwear brand; Saucony, known for running shoes and athletic gear; Sperry, which popularized boat shoes; Hush Puppies, a casual and comfort‐oriented line; and Keds, a heritage sneaker label.