Comerica Bank decreased its stake in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 3.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 98,284 shares of the textile maker’s stock after selling 3,591 shares during the quarter. Comerica Bank’s holdings in Wolverine World Wide were worth $3,189,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Wolverine World Wide by 50.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,883 shares of the textile maker’s stock valued at $156,000 after buying an additional 1,646 shares during the last quarter. Community Financial Services Group LLC purchased a new position in Wolverine World Wide during the fourth quarter valued at $212,000. Advisory Services Network LLC raised its stake in Wolverine World Wide by 5.3% during the second quarter. Advisory Services Network LLC now owns 8,336 shares of the textile maker’s stock valued at $234,000 after buying an additional 421 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in Wolverine World Wide during the second quarter valued at $304,000. Finally, Fox Run Management L.L.C. purchased a new position in Wolverine World Wide during the fourth quarter valued at $308,000. Institutional investors and hedge funds own 93.12% of the company’s stock.
A number of research analysts have issued reports on the company. Buckingham Research lifted their price objective on Wolverine World Wide from $24.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday, November 9th. Stifel Nicolaus set a $34.00 price objective on Wolverine World Wide and gave the company a “buy” rating in a research note on Saturday, December 16th. Telsey Advisory Group lifted their price objective on Wolverine World Wide from $29.00 to $30.00 and gave the company a “market perform” rating in a research note on Thursday, November 9th. Piper Jaffray Companies reiterated a “hold” rating and set a $26.00 price objective on shares of Wolverine World Wide in a research note on Wednesday, November 8th. Finally, Pivotal Research cut Wolverine World Wide from a “buy” rating to a “hold” rating and set a $33.00 price objective for the company. in a research note on Friday, February 9th. Ten analysts have rated the stock with a hold rating and four have given a buy rating to the company. Wolverine World Wide presently has a consensus rating of “Hold” and a consensus target price of $28.14.
Shares of Wolverine World Wide, Inc. (NYSE WWW) opened at $30.78 on Tuesday. The company has a market capitalization of $2,950.00, a price-to-earnings ratio of 52.17, a price-to-earnings-growth ratio of 1.21 and a beta of 0.93. Wolverine World Wide, Inc. has a fifty-two week low of $23.39 and a fifty-two week high of $33.82. The company has a quick ratio of 2.06, a current ratio of 3.09 and a debt-to-equity ratio of 0.74.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Monday, April 2nd will be issued a $0.08 dividend. This is a positive change from Wolverine World Wide’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Thursday, March 29th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.04%. Wolverine World Wide’s dividend payout ratio (DPR) is presently 40.68%.
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Wolverine World Wide Company Profile
Wolverine World Wide, Inc is a designer, manufacturer and marketer of a range of casual footwear and apparel, outdoor and athletic footwear and apparel, children’s footwear, industrial work boots and apparel, and uniform shoes and boots. It operates in four segments: Wolverine Outdoor & Lifestyle Group, which offers Merrell footwear and apparel, Cat footwear, Hush Puppies footwear and apparel, and Chaco footwear; Wolverine Boston Group, which offers Sperry footwear and apparel, Saucony footwear and apparel, and Keds footwear and apparel; Wolverine Heritage Group, which offers Wolverine footwear and apparel, Bates uniform footwear, Harley-Davidson footwear and HyTest safety footwear, and Wolverine Multi-Brand Group, which offers Stride Rite footwear and apparel, and its multi-brand consumer-direct businesses.
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