Comerica Bank Trims Holdings in Wolverine World Wide, Inc. (NYSE:WWW)

Comerica Bank trimmed its position in Wolverine World Wide, Inc. (NYSE:WWW) by 2.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,458 shares of the textile maker’s stock after selling 669 shares during the quarter. Comerica Bank’s holdings in Wolverine World Wide were worth $632,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WWW. SBI Securities Co. Ltd. purchased a new stake in Wolverine World Wide in the 4th quarter worth approximately $25,000. Signaturefd LLC boosted its stake in Wolverine World Wide by 88.8% in the 4th quarter. Signaturefd LLC now owns 1,450 shares of the textile maker’s stock worth $32,000 after purchasing an additional 682 shares during the period. Natixis bought a new position in Wolverine World Wide in the 4th quarter worth approximately $41,000. KBC Group NV boosted its stake in Wolverine World Wide by 43.8% in the 4th quarter. KBC Group NV now owns 4,303 shares of the textile maker’s stock worth $96,000 after purchasing an additional 1,311 shares during the period. Finally, Smartleaf Asset Management LLC boosted its stake in Wolverine World Wide by 375.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 5,552 shares of the textile maker’s stock worth $122,000 after purchasing an additional 4,384 shares during the period. 90.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WWW has been the subject of several recent analyst reports. Piper Sandler dropped their price target on Wolverine World Wide from $27.00 to $18.00 and set an “overweight” rating for the company in a research note on Friday, April 11th. Telsey Advisory Group restated a “market perform” rating and issued a $17.00 price target on shares of Wolverine World Wide in a research note on Friday, May 9th. StockNews.com downgraded Wolverine World Wide from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th. Stifel Nicolaus dropped their price target on Wolverine World Wide from $27.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Finally, Robert W. Baird upped their price target on Wolverine World Wide from $15.00 to $20.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 6th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.71.

Wolverine World Wide Stock Down 2.0%

NYSE WWW opened at $16.53 on Thursday. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.77 and a current ratio of 1.29. The company has a market capitalization of $1.34 billion, a P/E ratio of 30.05 and a beta of 1.62. Wolverine World Wide, Inc. has a one year low of $9.58 and a one year high of $24.64. The stock has a 50 day moving average price of $13.16 and a 200-day moving average price of $18.15.

Wolverine World Wide (NYSE:WWW) last posted its earnings results on Thursday, May 8th. The textile maker reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.07. The firm had revenue of $412.30 million during the quarter, compared to the consensus estimate of $395.94 million. Wolverine World Wide had a return on equity of 26.81% and a net margin of 2.73%. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.11 EPS. As a group, equities analysts predict that Wolverine World Wide, Inc. will post 1.23 EPS for the current fiscal year.

Wolverine World Wide Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Tuesday, July 1st will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, July 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.42%. Wolverine World Wide’s dividend payout ratio is currently 45.98%.

Wolverine World Wide Company 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.