Stifel Financial Corp Sells 18,339 Shares of Wolverine World Wide, Inc. (NYSE:WWW)

Stifel Financial Corp cut its holdings in Wolverine World Wide, Inc. (NYSE:WWW) by 52.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,666 shares of the textile maker’s stock after selling 18,339 shares during the period. Stifel Financial Corp’s holdings in Wolverine World Wide were worth $290,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Earnest Partners LLC boosted its holdings in Wolverine World Wide by 1.7% in the 2nd quarter. Earnest Partners LLC now owns 5,321,797 shares of the textile maker’s stock valued at $71,951,000 after purchasing an additional 90,407 shares during the period. Pacer Advisors Inc. acquired a new stake in shares of Wolverine World Wide in the second quarter valued at approximately $64,295,000. Jacobs Levy Equity Management Inc. boosted its stake in shares of Wolverine World Wide by 51.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 994,483 shares of the textile maker’s stock valued at $17,324,000 after buying an additional 335,669 shares during the period. Bank of New York Mellon Corp grew its position in Wolverine World Wide by 6.5% during the second quarter. Bank of New York Mellon Corp now owns 994,443 shares of the textile maker’s stock worth $13,445,000 after buying an additional 60,481 shares in the last quarter. Finally, Jennison Associates LLC bought a new position in Wolverine World Wide during the 3rd quarter worth $10,974,000. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Wolverine World Wide Trading Down 3.1 %

WWW opened at $22.48 on Friday. The company has a market cap of $1.80 billion, a P/E ratio of -25.26 and a beta of 1.89. The company has a current ratio of 1.23, a quick ratio of 0.77 and a debt-to-equity ratio of 1.91. The company’s 50 day moving average is $21.00 and its 200-day moving average is $16.59. Wolverine World Wide, Inc. has a 1-year low of $7.58 and a 1-year high of $24.64.

Wolverine World Wide Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 2nd will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.78%. Wolverine World Wide’s payout ratio is presently -44.94%.

Insider Transactions at Wolverine World Wide

In other news, insider Amy M. Klimek sold 10,214 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $20.11, for a total value of $205,403.54. Following the completion of the transaction, the insider now owns 19,093 shares of the company’s stock, valued at $383,960.23. This represents a 34.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 2.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Stifel Nicolaus raised Wolverine World Wide from a “hold” rating to a “buy” rating and increased their target price for the stock from $21.00 to $29.00 in a report on Wednesday, December 11th. BNP Paribas upgraded shares of 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. Telsey Advisory Group restated a “market perform” rating and issued a $15.00 target price on shares of Wolverine World Wide in a research report on Thursday, November 7th. Finally, StockNews.com upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating in a research report on Wednesday, December 18th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Wolverine World Wide presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.38.

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.