Wolverine World Wide, Inc. (NYSE:WWW) Shares Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lifted its stake in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 27.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 138,283 shares of the textile maker’s stock after buying an additional 29,691 shares during the quarter. Oppenheimer Asset Management Inc. owned approximately 0.17% of Wolverine World Wide worth $1,870,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in Wolverine World Wide by 42.5% during the 1st quarter. GAMMA Investing LLC now owns 4,504 shares of the textile maker’s stock worth $50,000 after acquiring an additional 1,343 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in shares of Wolverine World Wide during the first quarter worth $81,000. Natixis purchased a new position in Wolverine World Wide in the first quarter valued at $112,000. EntryPoint Capital LLC acquired a new stake in Wolverine World Wide in the first quarter valued at $141,000. Finally, Oxford Asset Management LLP purchased a new stake in Wolverine World Wide during the 4th quarter worth about $124,000. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

Wolverine World Wide Stock Up 0.6 %

WWW stock opened at $15.06 on Wednesday. The company has a market cap of $1.20 billion, a price-to-earnings ratio of -16.19 and a beta of 1.76. The company has a fifty day moving average price of $13.53 and a 200 day moving average price of $12.37. The company has a debt-to-equity ratio of 2.14, a current ratio of 1.19 and a quick ratio of 0.74. Wolverine World Wide, Inc. has a 12 month low of $7.21 and a 12 month high of $15.30.

Wolverine World Wide (NYSE:WWW) last announced its earnings results on Wednesday, August 7th. The textile maker reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.05. Wolverine World Wide had a negative net margin of 4.42% and a negative return on equity of 0.34%. The business had revenue of $425.40 million during the quarter, compared to the consensus estimate of $411.20 million. During the same quarter in the prior year, the firm earned $0.19 earnings per share. The business’s quarterly revenue was down 27.8% compared to the same quarter last year. Sell-side analysts expect that Wolverine World Wide, Inc. will post 0.85 earnings per share for the current year.

Wolverine World Wide Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 1st will be paid a $0.10 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $0.40 annualized dividend and a dividend yield of 2.66%. Wolverine World Wide’s dividend payout ratio (DPR) is currently -43.01%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on WWW shares. KeyCorp upgraded Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 price objective on the stock in a report on Thursday, August 8th. UBS Group raised shares of Wolverine World Wide from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $13.00 to $20.00 in a report on Friday, July 19th. Argus upgraded shares of Wolverine World Wide to a “hold” rating in a report on Friday, August 16th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $14.00 target price on shares of Wolverine World Wide in a research report on Wednesday, August 7th. Finally, Robert W. Baird boosted their price target on shares of Wolverine World Wide from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $17.17.

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.