Comerica Bank Decreases Stake in Wolverine World Wide, Inc. (NYSE:WWW)

Comerica Bank lowered its stake in shares of Wolverine World Wide, Inc. (NYSE:WWWGet Rating) by 12.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 60,189 shares of the textile maker’s stock after selling 8,615 shares during the quarter. Comerica Bank owned approximately 0.08% of Wolverine World Wide worth $985,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WWW. Eagle Bay Advisors LLC acquired a new stake in Wolverine World Wide during the second quarter worth approximately $44,000. Ronald Blue Trust Inc. acquired a new stake in Wolverine World Wide during the second quarter worth approximately $63,000. First Horizon Advisors Inc. raised its holdings in Wolverine World Wide by 9,088.4% during the second quarter. First Horizon Advisors Inc. now owns 3,951 shares of the textile maker’s stock worth $79,000 after purchasing an additional 3,908 shares in the last quarter. KBC Group NV acquired a new stake in Wolverine World Wide during the second quarter worth approximately $145,000. Finally, First Republic Investment Management Inc. acquired a new stake in Wolverine World Wide during the second quarter worth approximately $203,000. Institutional investors and hedge funds own 97.08% of the company’s stock.

Insider Buying and Selling at Wolverine World Wide

In related news, CEO Brendan Hoffman bought 7,500 shares of the firm’s stock in a transaction on Friday, December 9th. The shares were bought at an average cost of $10.25 per share, for a total transaction of $76,875.00. Following the transaction, the chief executive officer now owns 48,157 shares of the company’s stock, valued at $493,609.25. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Brendan Hoffman bought 7,500 shares of the firm’s stock in a transaction on Friday, December 9th. The shares were bought at an average cost of $10.25 per share, for a total transaction of $76,875.00. Following the transaction, the chief executive officer now owns 48,157 shares of the company’s stock, valued at $493,609.25. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey M. Boromisa bought 100,000 shares of the firm’s stock in a transaction on Friday, December 9th. The shares were bought at an average price of $10.49 per share, for a total transaction of $1,049,000.00. Following the completion of the transaction, the director now directly owns 156,900 shares in the company, valued at approximately $1,645,881. The disclosure for this purchase can be found here. In the last three months, insiders have bought 110,000 shares of company stock valued at $1,152,125. 4.40% of the stock is owned by company insiders.

Wolverine World Wide Stock Performance

Shares of WWW opened at $14.03 on Wednesday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.50 and a current ratio of 1.17. The stock has a market capitalization of $1.10 billion, a P/E ratio of 7.19 and a beta of 1.55. The company’s fifty day moving average is $11.34 and its two-hundred day moving average is $16.25. Wolverine World Wide, Inc. has a 1 year low of $9.60 and a 1 year high of $27.43.

Wolverine World Wide (NYSE:WWWGet Rating) last announced its quarterly earnings data on Wednesday, November 9th. The textile maker reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.09). The firm had revenue of $691.40 million during the quarter, compared to analyst estimates of $714.89 million. Wolverine World Wide had a net margin of 5.98% and a return on equity of 24.68%. On average, sell-side analysts predict that Wolverine World Wide, Inc. will post 1.41 earnings per share for the current year.

Wolverine World Wide Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 1st. Shareholders of record on Monday, January 2nd will be paid a $0.10 dividend. The ex-dividend date is Thursday, December 29th. This represents a $0.40 annualized dividend and a yield of 2.85%. Wolverine World Wide’s dividend payout ratio is currently 20.51%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Williams Trading raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating in a report on Monday, January 16th. Piper Sandler cut shares of Wolverine World Wide from an “overweight” rating to a “neutral” rating and cut their target price for the company from $23.00 to $13.00 in a report on Wednesday, January 4th. Stifel Nicolaus cut their target price on shares of Wolverine World Wide to $12.00 and set a “hold” rating on the stock in a report on Thursday, December 8th. UBS Group cut their target price on shares of Wolverine World Wide from $20.00 to $15.00 and set a “neutral” rating on the stock in a report on Monday, November 14th. Finally, StockNews.com initiated coverage on shares of Wolverine World Wide in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Wolverine World Wide currently has a consensus rating of “Hold” and a consensus target price of $19.38.

Wolverine World Wide Profile

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Wolverine World Wide, Inc engages in the design, manufacture, and sale of branded casual, active lifestyle, work, outdoor sport, athletic, uniform, footwear, and apparel. It operates through the following segments: Wolverine Michigan Group and Wolverine Boston Group. The Wolverine Michigan Group consists of Merrell, Cat, Chaco, Hush Puppies, Bates uniform, Harley-Davidson and Hytest safety footwear and apparel.

Further Reading

Institutional Ownership by Quarter for Wolverine World Wide (NYSE:WWW)

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