Louisiana State Employees Retirement System Reduces Position in Wolverine World Wide, Inc. (NYSE:WWW)

Louisiana State Employees Retirement System decreased its holdings in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 3.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,700 shares of the textile maker’s stock after selling 1,500 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Wolverine World Wide were worth $674,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC grew its holdings in shares of Wolverine World Wide by 15.9% in the third quarter. GAMMA Investing LLC now owns 4,494 shares of the textile maker’s stock valued at $78,000 after purchasing an additional 616 shares during the period. Texas Permanent School Fund Corp grew its holdings in shares of Wolverine World Wide by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 69,168 shares of the textile maker’s stock valued at $775,000 after purchasing an additional 946 shares during the period. Hsbc Holdings PLC grew its holdings in shares of Wolverine World Wide by 9.3% in the second quarter. Hsbc Holdings PLC now owns 11,425 shares of the textile maker’s stock valued at $153,000 after purchasing an additional 973 shares during the period. ProShare Advisors LLC grew its holdings in shares of Wolverine World Wide by 7.5% in the first quarter. ProShare Advisors LLC now owns 15,708 shares of the textile maker’s stock valued at $176,000 after purchasing an additional 1,090 shares during the period. Finally, Future Financial Wealth Managment LLC purchased a new position in Wolverine World Wide during the third quarter worth about $35,000. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Telsey Advisory Group reaffirmed a “market perform” rating and set a $15.00 target price on shares of Wolverine World Wide in a research note on Thursday, October 31st. BNP Paribas raised shares of Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 target price for the company in a research note on Thursday, October 3rd. KeyCorp raised shares of Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 target price for the company in a research note on Thursday, August 8th. Argus raised shares of Wolverine World Wide to a “hold” rating in a research note on Friday, August 16th. Finally, UBS Group raised shares of Wolverine World Wide from a “neutral” rating to a “buy” rating and increased their target price for the stock from $13.00 to $20.00 in a research note on Friday, July 19th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.00.

Wolverine World Wide Stock Up 1.4 %

Shares of WWW opened at $15.58 on Tuesday. The company’s 50-day simple moving average is $15.57 and its 200-day simple moving average is $13.88. The stock has a market capitalization of $1.25 billion, a PE ratio of -14.70 and a beta of 1.78. Wolverine World Wide, Inc. has a 1 year low of $7.58 and a 1 year high of $18.51. The company has a debt-to-equity ratio of 2.14, a quick ratio of 0.74 and a current ratio of 1.19.

Wolverine World Wide (NYSE:WWW) last issued its earnings results on Wednesday, August 7th. The textile maker reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.05. The firm had revenue of $425.40 million for the quarter, compared to analysts’ expectations of $411.20 million. Wolverine World Wide had a negative net margin of 4.42% and a negative return on equity of 0.34%. The firm’s revenue was down 27.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.19 earnings per share. Analysts forecast that Wolverine World Wide, Inc. will post 0.85 earnings per share for the current fiscal year.

Wolverine World Wide Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 2nd will be issued 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 2.57%. Wolverine World Wide’s dividend payout ratio (DPR) is -37.74%.

Insider Activity at Wolverine World Wide

In other news, insider David A. Latchana sold 7,706 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now owns 13,889 shares in the company, valued at approximately $236,390.78. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.28% of the stock is owned by corporate insiders.

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.