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

Principal Financial Group Inc. lessened its stake in Wolverine World Wide, Inc. (NYSE:WWW) by 4.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 379,042 shares of the textile maker’s stock after selling 18,119 shares during the quarter. Principal Financial Group Inc. owned approximately 0.47% of Wolverine World Wide worth $6,603,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WWW. GAMMA Investing LLC grew its holdings 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 buying an additional 616 shares in the last quarter. Hsbc Holdings PLC lifted its position in Wolverine World Wide by 9.3% during 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 last quarter. Intech Investment Management LLC grew its stake in shares of Wolverine World Wide by 5.0% in the 3rd quarter. Intech Investment Management LLC now owns 39,412 shares of the textile maker’s stock worth $687,000 after buying an additional 1,866 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new position in shares of Wolverine World Wide in the 3rd quarter worth $35,000. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Wolverine World Wide by 7.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,512 shares of the textile maker’s stock worth $413,000 after buying an additional 2,138 shares during the last quarter. Institutional investors own 90.25% of the company’s stock.

Wolverine World Wide Price Performance

Shares of WWW stock opened at $22.20 on Thursday. The company has a market capitalization of $1.78 billion, a P/E ratio of -24.94 and a beta of 1.89. The company’s 50-day simple moving average is $21.36 and its two-hundred day simple moving average is $16.79. Wolverine World Wide, Inc. has a one year low of $7.58 and a one year high of $24.64. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.23 and a quick ratio of 0.77.

Wolverine World Wide Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 2nd will be issued a dividend of $0.10 per share. The ex-dividend date is Thursday, January 2nd. This represents a $0.40 annualized dividend and a yield of 1.80%. Wolverine World Wide’s payout ratio is currently -44.94%.

Analyst Ratings Changes

A number of brokerages recently commented on WWW. Stifel Nicolaus raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating and increased their price target for the company from $21.00 to $29.00 in a report on Wednesday, December 11th. BNP Paribas raised Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 target price on the stock in a research report on Thursday, October 3rd. Telsey Advisory Group restated a “market perform” rating and issued a $15.00 price target 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 assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $19.38.

Insider Activity

In other Wolverine World Wide news, insider Amy M. Klimek sold 10,214 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $20.11, for a total transaction of $205,403.54. Following the completion of the sale, the insider now owns 19,093 shares in the company, 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 Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.28% of the company’s stock.

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.