Morgan Stanley Grows Stock Holdings in Wolverine World Wide, Inc. (NYSE:WWW)

Morgan Stanley lifted its position in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 77.3% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 465,307 shares of the textile maker’s stock after buying an additional 202,804 shares during the quarter. Morgan Stanley owned approximately 0.55% of Wolverine World Wide worth $12,816,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its stake in shares of Wolverine World Wide by 719.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,639 shares of the textile maker’s stock valued at $45,000 after buying an additional 1,439 shares in the last quarter. M&T Bank Corp lifted its stake in shares of Wolverine World Wide by 14.9% during the 2nd quarter. M&T Bank Corp now owns 8,924 shares of the textile maker’s stock valued at $245,000 after buying an additional 1,160 shares in the last quarter. Diversified Trust Co lifted its stake in shares of Wolverine World Wide by 39.0% during the 2nd quarter. Diversified Trust Co now owns 10,239 shares of the textile maker’s stock valued at $282,000 after buying an additional 2,875 shares in the last quarter. Marshall Wace North America L.P. purchased a new position in shares of Wolverine World Wide during the 1st quarter valued at $505,000. Finally, Alpha Windward LLC lifted its stake in shares of Wolverine World Wide by 30.5% during the 2nd quarter. Alpha Windward LLC now owns 15,660 shares of the textile maker’s stock valued at $434,000 after buying an additional 3,660 shares in the last quarter. Institutional investors own 92.68% of the company’s stock.

Shares of WWW stock opened at $28.34 on Friday. The stock has a market cap of $2.31 billion, a P/E ratio of 12.58 and a beta of 1.07. Wolverine World Wide, Inc. has a 52 week low of $23.05 and a 52 week high of $39.72. The company has a quick ratio of 0.70, a current ratio of 1.25 and a debt-to-equity ratio of 0.68. The company’s fifty day simple moving average is $27.26 and its two-hundred day simple moving average is $29.42.

Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings results on Wednesday, August 7th. The textile maker reported $0.52 EPS for the quarter, topping the consensus estimate of $0.50 by $0.02. The business had revenue of $568.60 million for the quarter, compared to analysts’ expectations of $575.24 million. Wolverine World Wide had a net margin of 8.02% and a return on equity of 21.21%. The business’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.54 EPS. On average, analysts anticipate that Wolverine World Wide, Inc. will post 2.28 EPS for the current fiscal year.

The business also recently declared 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. This represents a $0.40 annualized dividend and a yield of 1.41%. The ex-dividend date is Monday, September 30th. Wolverine World Wide’s payout ratio is currently 18.43%.

Wolverine World Wide announced that its Board of Directors has approved a stock repurchase program on Wednesday, September 11th that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the textile maker to reacquire up to 17.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

WWW has been the topic of a number of analyst reports. ValuEngine upgraded shares of Wolverine World Wide from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus set a $36.00 price target on shares of Wolverine World Wide and gave the stock a “buy” rating in a research note on Monday, September 9th. Pivotal Research reiterated a “hold” rating and issued a $30.00 price target (down previously from $34.00) on shares of Wolverine World Wide in a research note on Friday, August 2nd. Telsey Advisory Group reiterated a “market perform” rating and issued a $34.00 price target (down previously from $38.00) on shares of Wolverine World Wide in a research note on Monday, August 5th. Finally, Wedbush reiterated an “outperform” rating on shares of Wolverine World Wide in a research note on Tuesday, October 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $36.80.

Wolverine World Wide Company Profile

Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories. The company operates through three segments: Wolverine Outdoor & Lifestyle Group, Wolverine Boston Group, and Wolverine Heritage Group. It offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; kids' footwear; industrial work boots and apparel; and uniform shoes and boots.

Further Reading: Special Dividends

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

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