Invenomic Capital Management LP Trims Stock Holdings in Wolverine World Wide, Inc. (NYSE:WWW)

Invenomic Capital Management LP lowered its position in shares of Wolverine World Wide, Inc. (NYSE:WWWFree Report) by 49.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 291,102 shares of the textile maker’s stock after selling 279,528 shares during the quarter. Invenomic Capital Management LP owned about 0.37% of Wolverine World Wide worth $2,588,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in WWW. Swiss National Bank lifted its holdings in shares of Wolverine World Wide by 1.0% during the third quarter. Swiss National Bank now owns 174,600 shares of the textile maker’s stock worth $1,407,000 after purchasing an additional 1,700 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position 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 during the last quarter. GAMMA Investing LLC acquired a new stake in Wolverine World Wide during the 4th quarter valued at approximately $26,000. J.W. Cole Advisors Inc. boosted its holdings in shares of Wolverine World Wide by 24.6% in the 4th quarter. J.W. Cole Advisors Inc. now owns 25,730 shares of the textile maker’s stock valued at $229,000 after acquiring an additional 5,079 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Wolverine World Wide by 40.1% in the 4th quarter. Victory Capital Management Inc. now owns 21,623 shares of the textile maker’s stock valued at $192,000 after acquiring an additional 6,189 shares during the last quarter. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on WWW shares. Seaport Res Ptn upgraded shares of Wolverine World Wide from a “neutral” rating to a “buy” rating in a research report on Monday, May 6th. Williams Trading upgraded Wolverine World Wide from a “hold” rating to a “buy” rating and lifted their price objective for the company from $11.00 to $16.00 in a research note on Thursday, May 9th. Robert W. Baird lifted their price objective on Wolverine World Wide from $9.00 to $13.00 and gave the company a “neutral” rating in a research note on Thursday, May 9th. UBS Group lifted their price objective on Wolverine World Wide from $11.00 to $13.00 and gave the company a “neutral” rating in a research note on Thursday, May 9th. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $10.00 price objective on shares of Wolverine World Wide in a research note on Wednesday, May 8th. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $11.67.

Check Out Our Latest Report on WWW

Insiders Place Their Bets

In other news, insider Isabel Soriano sold 3,201 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $13.89, for a total transaction of $44,461.89. Following the transaction, the insider now directly owns 26,519 shares in the company, valued at approximately $368,348.91. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.28% of the stock is owned by company insiders.

Wolverine World Wide Price Performance

Shares of Wolverine World Wide stock opened at $12.88 on Tuesday. The company has a quick ratio of 0.65, a current ratio of 1.13 and a debt-to-equity ratio of 2.24. Wolverine World Wide, Inc. has a twelve month low of $7.21 and a twelve month high of $15.09. The business has a 50-day moving average price of $11.74 and a 200 day moving average price of $10.11. The firm has a market cap of $1.03 billion, a PE ratio of -13.85 and a beta of 1.73.

Wolverine World Wide (NYSE:WWWGet Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The textile maker reported $0.05 EPS for the quarter, hitting the consensus estimate of $0.05. Wolverine World Wide had a positive return on equity of 0.53% and a negative net margin of 3.59%. The company had revenue of $394.90 million during the quarter, compared to analyst estimates of $360.31 million. Sell-side analysts predict that Wolverine World Wide, Inc. will post 0.8 earnings per share for the current fiscal year.

Wolverine World Wide Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Monday, July 1st will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, July 1st. This represents a $0.40 annualized dividend and a yield of 3.11%. Wolverine World Wide’s dividend payout ratio (DPR) is currently -43.01%.

Wolverine World Wide Profile

(Free Report)

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.

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

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