HPM Partners LLC Sells 16,805 Shares of Wolverine World Wide, Inc. (WWW)
HPM Partners LLC lessened its holdings in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 70.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,126 shares of the textile maker’s stock after selling 16,805 shares during the quarter. HPM Partners LLC’s holdings in Wolverine World Wide were worth $248,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Aperio Group LLC grew its stake in Wolverine World Wide by 3.1% during the 2nd quarter. Aperio Group LLC now owns 51,552 shares of the textile maker’s stock valued at $1,792,000 after acquiring an additional 1,551 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in Wolverine World Wide by 5.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 737,842 shares of the textile maker’s stock valued at $25,655,000 after acquiring an additional 40,980 shares in the last quarter. Whittier Trust Co. grew its stake in Wolverine World Wide by 17,858.3% during the 2nd quarter. Whittier Trust Co. now owns 41,304 shares of the textile maker’s stock valued at $1,076,000 after acquiring an additional 41,074 shares in the last quarter. Natixis Advisors L.P. purchased a new position in Wolverine World Wide during the 1st quarter valued at about $383,000. Finally, BlackRock Inc. grew its stake in Wolverine World Wide by 5.3% during the 2nd quarter. BlackRock Inc. now owns 13,103,559 shares of the textile maker’s stock valued at $455,613,000 after acquiring an additional 664,587 shares in the last quarter. 92.75% of the stock is currently owned by institutional investors.
In related news, insider Richard Woodworth sold 19,376 shares of the business’s stock in a transaction that occurred on Friday, August 31st. The stock was sold at an average price of $38.73, for a total value of $750,432.48. Following the completion of the sale, the insider now directly owns 123,040 shares in the company, valued at approximately $4,765,339.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William K. Gerber sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $37.17, for a total value of $37,170.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,527 shares of company stock valued at $2,644,036. Corporate insiders own 5.81% of the company’s stock.
Wolverine World Wide (NYSE:WWW) last posted its earnings results on Wednesday, August 8th. The textile maker reported $0.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.08. Wolverine World Wide had a return on equity of 18.58% and a net margin of 2.83%. The firm had revenue of $566.90 million during the quarter, compared to analyst estimates of $569.24 million. During the same period in the previous year, the company earned $0.43 EPS. The company’s revenue for the quarter was down 5.3% on a year-over-year basis. On average, analysts predict that Wolverine World Wide, Inc. will post 2.14 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 1st. Investors of record on Monday, October 1st will be issued a $0.08 dividend. The ex-dividend date is Friday, September 28th. This represents a $0.32 annualized dividend and a yield of 0.92%. Wolverine World Wide’s dividend payout ratio (DPR) is currently 19.51%.
Several equities research analysts recently commented on WWW shares. Citigroup boosted their price target on Wolverine World Wide from $34.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, August 30th. Wedbush boosted their price target on Wolverine World Wide from $37.00 to $41.00 and gave the company an “outperform” rating in a research note on Monday, August 6th. Zacks Investment Research raised Wolverine World Wide from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research note on Friday, August 10th. Piper Jaffray Companies reissued a “hold” rating and issued a $35.00 price target on shares of Wolverine World Wide in a research note on Thursday, August 9th. Finally, UBS Group raised Wolverine World Wide from a “neutral” rating to a “positive” rating in a research note on Wednesday, August 1st. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $39.75.
About Wolverine World Wide
Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories. The company operates through four segments: Wolverine Outdoor & Lifestyle Group, Wolverine Boston Group, Wolverine Heritage Group, and Wolverine Multi-Brand Group. It offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; children's footwear; industrial work boots and apparel; and uniform shoes and boots.
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