The Manufacturers Life Insurance Company Raises Position in Wolverine World Wide, Inc. (NYSE:WWW)

The Manufacturers Life Insurance Company increased its stake in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 7.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,512 shares of the textile maker’s stock after purchasing an additional 2,138 shares during the period. The Manufacturers Life Insurance Company’s holdings in Wolverine World Wide were worth $413,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in WWW. 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 purchasing an additional 1,343 shares during the period. Canada Pension Plan Investment Board bought a new position in Wolverine World Wide during the 2nd quarter worth about $68,000. Central Pacific Bank Trust Division bought a new stake in shares of Wolverine World Wide in the 1st quarter valued at about $81,000. Natixis bought a new stake in shares of Wolverine World Wide in the 1st quarter valued at about $112,000. Finally, EntryPoint Capital LLC purchased a new position in shares of Wolverine World Wide in the 1st quarter worth approximately $141,000. 90.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WWW has been the topic of a number of analyst reports. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $14.00 price objective on shares of Wolverine World Wide in a research report on Wednesday, August 7th. KeyCorp raised shares of Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 target price on the stock in a research report on Thursday, August 8th. BNP Paribas raised shares of Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 target price on the stock in a research report on Thursday, October 3rd. Argus raised shares of Wolverine World Wide to a “hold” rating in a research report on Friday, August 16th. Finally, UBS Group upgraded shares of 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 note on Friday, July 19th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $17.86.

Insiders Place Their Bets

In other Wolverine World Wide news, insider David A. Latchana sold 7,706 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $17.02, for a total transaction of $131,156.12. Following the completion of the transaction, the insider now owns 13,889 shares of the company’s stock, valued at $236,390.78. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.28% of the stock is currently owned by insiders.

Wolverine World Wide Stock Performance

WWW opened at $16.26 on Thursday. The company has a debt-to-equity ratio of 2.14, a current ratio of 1.19 and a quick ratio of 0.74. The firm has a fifty day moving average price of $14.76 and a 200 day moving average price of $13.28. The stock has a market cap of $1.30 billion, a P/E ratio of -17.48 and a beta of 1.77. Wolverine World Wide, Inc. has a 1 year low of $7.52 and a 1 year high of $18.51.

Wolverine World Wide (NYSE:WWW) last released its earnings results on Wednesday, August 7th. The textile maker reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $411.20 million. During the same quarter in the prior year, the firm earned $0.19 earnings per share. The company’s revenue for the quarter was down 27.8% compared to the same quarter last year. Equities research analysts anticipate that Wolverine World Wide, Inc. will post 0.85 earnings per share for the current year.

Wolverine World Wide Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 1st will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend is Tuesday, October 1st. Wolverine World Wide’s dividend payout ratio is currently -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.