Principal Financial Group Inc. Lowers Stake in Wolverine World Wide, Inc. (NYSE:WWW)

Principal Financial Group Inc. trimmed its holdings in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 4.6% in the third quarter, Holdings Channel reports. The firm owned 379,042 shares of the textile maker’s stock after selling 18,119 shares during the period. Principal Financial Group Inc.’s holdings in Wolverine World Wide were worth $6,603,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Future Financial Wealth Managment LLC purchased a new stake in Wolverine World Wide during the 3rd quarter worth $35,000. Cedar Mountain Advisors LLC acquired a new stake in Wolverine World Wide in the third quarter valued at $70,000. GAMMA Investing LLC boosted its stake in Wolverine World Wide by 15.9% during the 3rd quarter. GAMMA Investing LLC now owns 4,494 shares of the textile maker’s stock valued at $78,000 after acquiring an additional 616 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in Wolverine World Wide during the 2nd quarter worth $68,000. Finally, CWM LLC increased its position in shares of Wolverine World Wide by 237.0% in the 3rd quarter. CWM LLC now owns 8,843 shares of the textile maker’s stock worth $154,000 after purchasing an additional 6,219 shares during the last quarter. Institutional investors and hedge funds own 90.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on WWW shares. 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 issued a $15.00 price target on shares of Wolverine World Wide in a report on Thursday, November 7th. BNP Paribas upgraded Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 price objective on the stock in a research note on Thursday, October 3rd. Robert W. Baird boosted their target price on shares of Wolverine World Wide from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Finally, KeyCorp upgraded shares of Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 price target on the stock in a research report on Thursday, August 8th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $18.00.

Insider Buying and Selling at Wolverine World Wide

In related news, insider David A. Latchana sold 7,706 shares of Wolverine World Wide 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 sale, the insider now directly owns 13,889 shares in the company, valued at $236,390.78. The trade was a 35.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Amy M. Klimek sold 24,000 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $22.07, for a total transaction of $529,680.00. Following the completion of the transaction, the insider now owns 20,238 shares of the company’s stock, valued at $446,652.66. This represents a 54.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,920 shares of company stock valued at $866,240 in the last ninety days. Company insiders own 2.28% of the company’s stock.

Wolverine World Wide Stock Performance

WWW stock opened at $22.37 on Wednesday. Wolverine World Wide, Inc. has a 1 year low of $7.58 and a 1 year high of $22.86. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of -25.13 and a beta of 1.78. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.77 and a current ratio of 1.23. The stock’s fifty day moving average is $16.95 and its two-hundred day moving average is $14.59.

Wolverine World Wide Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 2nd will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $0.40 annualized dividend and a yield of 1.79%. Wolverine World Wide’s dividend payout ratio is presently -44.94%.

Wolverine World Wide Company 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.