Envestnet Asset Management Inc. Trims Holdings in Wolverine World Wide, Inc. (NYSE:WWW)

Envestnet Asset Management Inc. reduced its stake in shares of Wolverine World Wide, Inc. (NYSE:WWW – Get Rating) by 64.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 88,258 shares of the textile maker’s stock after selling 163,496 shares during the period. Envestnet Asset Management Inc. owned 0.11% of Wolverine World Wide worth $965,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of WWW. Eagle Bay Advisors LLC lifted its holdings in shares of Wolverine World Wide by 141.3% during the 4th quarter. Eagle Bay Advisors LLC now owns 2,790 shares of the textile maker’s stock worth $30,000 after acquiring an additional 1,634 shares during the period. Gladius Capital Management LP purchased a new position in shares of Wolverine World Wide during the 4th quarter worth about $37,000. Quadrant Capital Group LLC lifted its holdings in shares of Wolverine World Wide by 131.1% during the 3rd quarter. Quadrant Capital Group LLC now owns 3,473 shares of the textile maker’s stock worth $53,000 after acquiring an additional 1,970 shares during the period. UBS Group AG lifted its holdings in shares of Wolverine World Wide by 114.9% during the 3rd quarter. UBS Group AG now owns 6,315 shares of the textile maker’s stock worth $97,000 after acquiring an additional 3,376 shares during the period. Finally, Brookstone Capital Management increased its position in Wolverine World Wide by 14.8% during the 4th quarter. Brookstone Capital Management now owns 11,668 shares of the textile maker’s stock worth $127,000 after purchasing an additional 1,500 shares in the last quarter. 97.08% of the stock is currently owned by hedge funds and other institutional investors.

Wolverine World Wide Stock Up 0.3 %

WWW stock opened at $14.30 on Friday. Wolverine World Wide, Inc. has a twelve month low of $9.60 and a twelve month high of $24.08. The company has a current ratio of 1.16, a quick ratio of 0.46 and a debt-to-equity ratio of 2.09. The company has a market capitalization of $1.14 billion, a P/E ratio of -6.09 and a beta of 1.66. The firm has a 50 day simple moving average of $16.04 and a 200-day simple moving average of $14.27.

Wolverine World Wide (NYSE:WWW – Get Rating) last released its quarterly earnings results on Wednesday, February 22nd. The textile maker reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). Wolverine World Wide had a positive return on equity of 17.61% and a negative net margin of 6.71%. The company had revenue of $665.00 million for the quarter, compared to analyst estimates of $665.04 million. During the same period in the previous year, the business posted $0.41 EPS. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. On average, equities research analysts predict that Wolverine World Wide, Inc. will post 1.5 earnings per share for the current fiscal year.

Wolverine World Wide Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 1st. Stockholders of record on Monday, July 3rd will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date is Friday, June 30th. Wolverine World Wide’s payout ratio is currently -17.02%.

Analyst Ratings Changes

A number of research firms recently issued reports on WWW. Seaport Res Ptn raised shares of Wolverine World Wide from a “neutral” rating to a “buy” rating in a research report on Monday, March 13th. StockNews.com raised shares of Wolverine World Wide from a “sell” rating to a “hold” rating in a research report on Thursday, May 11th. Robert W. Baird increased their target price on shares of Wolverine World Wide from $13.00 to $15.00 in a research report on Thursday, May 11th. Stifel Nicolaus increased their target price on shares of Wolverine World Wide from $15.00 to $18.00 in a research report on Thursday, May 11th. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $14.00 target price on shares of Wolverine World Wide in a research report on Wednesday, February 22nd. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $16.00.

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.