Everence Capital Management Inc. Lowers Stock Holdings in Wolverine World Wide, Inc. (NYSE:WWW)

Everence Capital Management Inc. lessened its stake in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 48.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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.

Several other hedge funds have also recently modified their holdings of WWW. Earnest Partners LLC lifted its stake in shares of 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 worth $71,951,000 after acquiring an additional 90,407 shares during the period. Pacer Advisors Inc. purchased a new position in Wolverine World Wide during the second quarter worth about $64,295,000. State Street Corp lifted its position in Wolverine World Wide by 0.5% in the third quarter. State Street Corp now owns 3,065,736 shares of the textile maker’s stock valued at $53,405,000 after purchasing an additional 16,228 shares during the period. Geode Capital Management LLC boosted its holdings in Wolverine World Wide by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,791,789 shares of the textile maker’s stock valued at $31,219,000 after purchasing an additional 17,400 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Wolverine World Wide by 1,263.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,426,942 shares of the textile maker’s stock worth $24,857,000 after purchasing an additional 1,322,254 shares during the period. 90.25% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Amy M. Klimek sold 10,214 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $20.11, for a total transaction 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.28% of the company’s stock.

Analysts Set New Price Targets

WWW has been the subject of several recent analyst reports. StockNews.com cut Wolverine World Wide from a “buy” rating to a “hold” rating in a report on Friday, January 3rd. BNP Paribas raised Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 target price for the company in a report on Thursday, October 3rd. Stifel Nicolaus raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating and upped their price target for the stock from $21.00 to $29.00 in a research note on Wednesday, December 11th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $15.00 price objective on shares of Wolverine World Wide in a research note on Thursday, November 7th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $19.38.

Wolverine World Wide Stock Performance

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

Wolverine World Wide Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 2nd will be issued a $0.10 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $0.40 annualized dividend and a yield of 1.76%. Wolverine World Wide’s dividend payout ratio (DPR) is presently -44.94%.

About Wolverine World Wide

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.