Earnest Partners LLC Sells 61,803 Shares of Wolverine World Wide, Inc. (NYSE:WWW)

Earnest Partners LLC decreased its holdings in Wolverine World Wide, Inc. (NYSE:WWW) by 1.2% during the 1st quarter, Holdings Channel.com reports. The fund owned 5,231,390 shares of the textile maker’s stock after selling 61,803 shares during the quarter. Earnest Partners LLC owned 0.07% of Wolverine World Wide worth $58,644,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. increased its stake in Wolverine World Wide by 6.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,771,991 shares of the textile maker’s stock valued at $15,753,000 after buying an additional 103,368 shares during the last quarter. Capstone Investment Advisors LLC purchased a new stake in Wolverine World Wide in the 1st quarter valued at about $1,089,000. Intrinsic Edge Capital Management LLC purchased a new stake in Wolverine World Wide in the 4th quarter valued at about $2,563,000. SG Americas Securities LLC purchased a new stake in Wolverine World Wide in the 4th quarter valued at about $172,000. Finally, BNP Paribas Financial Markets increased its stake in Wolverine World Wide by 52.8% in the 1st quarter. BNP Paribas Financial Markets now owns 65,242 shares of the textile maker’s stock valued at $731,000 after buying an additional 22,532 shares during the last quarter. Institutional investors own 90.25% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Telsey Advisory Group reiterated a “market perform” rating and issued a $10.00 price objective on shares of Wolverine World Wide in a research note on Wednesday, May 8th. Williams Trading upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating and raised their price target for the stock from $11.00 to $16.00 in a research note on Thursday, May 9th. Robert W. Baird raised their price target on shares of Wolverine World Wide from $9.00 to $13.00 and gave the stock a “neutral” rating in a research note on Thursday, May 9th. Seaport Res Ptn upgraded shares of Wolverine World Wide from a “neutral” rating to a “buy” rating in a research note on Monday, May 6th. Finally, UBS Group upgraded shares of Wolverine World Wide from a “neutral” rating to a “buy” rating and raised their price target for the stock from $13.00 to $20.00 in a research note on Friday, July 19th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $12.44.

Insider Transactions at Wolverine World Wide

In other news, insider Isabel Soriano sold 3,201 shares of Wolverine World Wide stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $13.89, for a total transaction of $44,461.89. Following the completion of the sale, the insider now directly owns 26,519 shares of the company’s stock, valued at approximately $368,348.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.28% of the stock is currently owned by insiders.

Wolverine World Wide Price Performance

NYSE:WWW traded up $0.03 during trading hours on Monday, hitting $14.54. The stock had a trading volume of 614,849 shares, compared to its average volume of 1,014,992. The company has a 50 day simple moving average of $13.32 and a two-hundred day simple moving average of $11.16. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.13 and a quick ratio of 0.65. Wolverine World Wide, Inc. has a one year low of $7.21 and a one year high of $14.97. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of -15.68 and a beta of 1.76.

Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings results on Wednesday, May 8th. The textile maker reported $0.05 EPS for the quarter, meeting the consensus estimate of $0.05. Wolverine World Wide had a negative net margin of 3.59% and a positive return on equity of 0.53%. The firm had revenue of $394.90 million during the quarter, compared to the consensus estimate of $360.31 million. Research analysts forecast that Wolverine World Wide, Inc. will post 0.8 earnings per share for the current fiscal year.

Wolverine World Wide Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Monday, July 1st will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date is Monday, July 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.