Wolverine World Wide, Inc. (NYSE:WWW) Shares Bought by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp increased its stake in Wolverine World Wide, Inc. (NYSE:WWW) by 40.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 97,073 shares of the textile maker’s stock after acquiring an additional 27,905 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Wolverine World Wide were worth $1,312,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Louisiana State Employees Retirement System grew its holdings in shares of Wolverine World Wide by 2.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 40,200 shares of the textile maker’s stock worth $544,000 after acquiring an additional 800 shares during the last quarter. ProShare Advisors LLC grew its holdings in shares of Wolverine World Wide by 7.5% in the 1st quarter. ProShare Advisors LLC now owns 15,708 shares of the textile maker’s stock worth $176,000 after acquiring an additional 1,090 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Wolverine World Wide by 42.5% in the first quarter. GAMMA Investing LLC now owns 4,504 shares of the textile maker’s stock worth $50,000 after buying an additional 1,343 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Wolverine World Wide by 5.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 56,307 shares of the textile maker’s stock worth $632,000 after buying an additional 2,907 shares during the period. Finally, J.W. Cole Advisors Inc. boosted its position in shares of Wolverine World Wide by 22.6% in the first quarter. J.W. Cole Advisors Inc. now owns 31,536 shares of the textile maker’s stock worth $350,000 after buying an additional 5,806 shares during the period. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Wolverine World Wide Stock Up 1.9 %

Shares of WWW opened at $15.18 on Friday. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of -16.32 and a beta of 1.76. The company has a debt-to-equity ratio of 2.14, a quick ratio of 0.74 and a current ratio of 1.19. The business’s fifty day moving average price is $13.63 and its two-hundred day moving average price is $12.41. Wolverine World Wide, Inc. has a 52 week low of $7.21 and a 52 week high of $15.37.

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

Wolverine World Wide Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 1st will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend is Tuesday, October 1st. Wolverine World Wide’s payout ratio is presently -43.01%.

Wolverine World Wide 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.