New York State Common Retirement Fund Grows Stock Position in Wolverine World Wide, Inc. (NYSE:WWW)

New York State Common Retirement Fund grew its holdings in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 0.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 813,637 shares of the textile maker’s stock after purchasing an additional 1,200 shares during the quarter. New York State Common Retirement Fund owned approximately 0.99% of Wolverine World Wide worth $31,179,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Papp L Roy & Associates purchased a new stake in shares of Wolverine World Wide during the 1st quarter valued at about $211,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Wolverine World Wide during the 4th quarter valued at about $1,813,000. Oregon Public Employees Retirement Fund increased its position in shares of Wolverine World Wide by 2.1% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 33,516 shares of the textile maker’s stock valued at $1,284,000 after purchasing an additional 700 shares during the last quarter. Rhumbline Advisers increased its position in shares of Wolverine World Wide by 0.9% during the 1st quarter. Rhumbline Advisers now owns 292,155 shares of the textile maker’s stock valued at $11,195,000 after purchasing an additional 2,616 shares during the last quarter. Finally, Everence Capital Management Inc. purchased a new stake in Wolverine World Wide in the 1st quarter worth approximately $517,000. 92.94% of the stock is owned by hedge funds and other institutional investors.

NYSE:WWW opened at $36.30 on Friday. The firm’s fifty day moving average is $38.80. Wolverine World Wide, Inc. has a fifty-two week low of $20.58 and a fifty-two week high of $44.74. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of -25.93 and a beta of 1.84. The company has a quick ratio of 1.46, a current ratio of 2.10 and a debt-to-equity ratio of 1.14.

Wolverine World Wide (NYSE:WWW) last released its quarterly earnings results on Wednesday, May 12th. The textile maker reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.02. Wolverine World Wide had a positive return on equity of 12.78% and a negative net margin of 6.01%. The company had revenue of $510.70 million for the quarter, compared to analyst estimates of $508.32 million. During the same quarter in the prior year, the firm posted $0.28 EPS. Wolverine World Wide’s quarterly revenue was up 16.3% compared to the same quarter last year. As a group, analysts anticipate that Wolverine World Wide, Inc. will post 2.07 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 2nd. Investors of record on Thursday, July 1st will be issued a dividend of $0.10 per share. The ex-dividend date is Wednesday, June 30th. This represents a $0.40 annualized dividend and a yield of 1.10%. Wolverine World Wide’s payout ratio is presently 43.01%.

In related news, Director William K. Gerber sold 3,000 shares of the stock in a transaction on Friday, May 14th. The stock was sold at an average price of $38.34, for a total transaction of $115,020.00. Following the sale, the director now owns 15,785 shares in the company, valued at approximately $605,196.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Nicholas T. Long sold 5,470 shares of the stock in a transaction on Tuesday, May 18th. The shares were sold at an average price of $38.65, for a total value of $211,415.50. Following the sale, the director now owns 16,142 shares in the company, valued at approximately $623,888.30. The disclosure for this sale can be found here. Insiders have sold a total of 36,907 shares of company stock worth $1,425,529 in the last 90 days. 4.73% of the stock is currently owned by insiders.

Several research firms recently issued reports on WWW. Robert W. Baird increased their target price on shares of Wolverine World Wide from $42.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday. B. Riley upped their price target on Wolverine World Wide from $39.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, March 24th. Telsey Advisory Group upped their price target on Wolverine World Wide from $35.00 to $45.00 and gave the stock a “market perform” rating in a research note on Thursday, May 6th. Pivotal Research restated a “buy” rating on shares of Wolverine World Wide in a research note on Friday, May 7th. Finally, Argus increased their target price on Wolverine World Wide from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, May 18th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $37.00.

About Wolverine World Wide

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. The company operates through two segments, Wolverine Michigan Group and Wolverine Boston Group.

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

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