Wolverine World Wide, Inc. (NYSE:WWW) Shares Sold by Everence Capital Management Inc.

Everence Capital Management Inc. lowered its position in Wolverine World Wide, Inc. (NYSE:WWW) by 48.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 9,880 shares of the textile maker’s stock after selling 9,390 shares during the quarter. Everence Capital Management Inc.’s holdings in Wolverine World Wide were worth $219,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. acquired a new position in shares of Wolverine World Wide in the 2nd quarter valued at about $64,295,000. JPMorgan Chase & Co. raised its holdings in Wolverine World Wide by 1,263.0% in the third quarter. JPMorgan Chase & Co. now owns 1,426,942 shares of the textile maker’s stock valued at $24,857,000 after buying an additional 1,322,254 shares during the period. Jennison Associates LLC acquired a new position in Wolverine World Wide during the third quarter valued at approximately $10,974,000. Federated Hermes Inc. grew its stake in Wolverine World Wide by 10,607.4% during the second quarter. Federated Hermes Inc. now owns 540,402 shares of the textile maker’s stock worth $7,306,000 after buying an additional 535,355 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its position 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 worth $17,324,000 after acquiring an additional 335,669 shares in the last quarter. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Insider Buying and Selling

In related news, insider Amy M. Klimek sold 24,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was 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 directly owns 20,238 shares in the company, valued at $446,652.66. This represents a 54.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.28% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. BNP Paribas upgraded 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 report on Thursday, October 3rd. StockNews.com cut Wolverine World Wide from a “buy” rating to a “hold” rating in a research note on Friday, January 3rd. Stifel Nicolaus upgraded Wolverine World Wide from a “hold” rating to a “buy” rating and increased their target price for the company from $21.00 to $29.00 in a research note on Wednesday, December 11th. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $15.00 price target on shares of Wolverine World Wide in a research report on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Wolverine World Wide presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.38.

Wolverine World Wide Stock Performance

Shares of Wolverine World Wide stock opened at $22.69 on Thursday. The firm has a market cap of $1.82 billion, a PE ratio of -25.49 and a beta of 1.88. Wolverine World Wide, Inc. has a 1 year low of $7.88 and a 1 year high of $24.64. The firm’s 50-day simple moving average is $22.04 and its 200-day simple moving average is $17.11. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.77 and a current ratio of 1.23.

Wolverine World Wide Dividend Announcement

The firm 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 dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Thursday, January 2nd. Wolverine World Wide’s dividend payout ratio is presently -44.94%.

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.