Wolverine World Wide, Inc. (NYSE:WWW) Position Reduced by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. trimmed its holdings in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 22.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,069,409 shares of the textile maker’s stock after selling 306,171 shares during the period. Charles Schwab Investment Management Inc. owned 1.34% of Wolverine World Wide worth $23,741,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. State Street Corp raised its holdings in shares of Wolverine World Wide by 0.5% during the third quarter. State Street Corp now owns 3,065,736 shares of the textile maker’s stock worth $53,405,000 after purchasing an additional 16,228 shares during the period. Pacer Advisors Inc. acquired a new stake in shares of Wolverine World Wide during the fourth quarter worth $64,943,000. Geode Capital Management LLC raised its holdings in shares of Wolverine World Wide by 1.0% during the third quarter. Geode Capital Management LLC now owns 1,791,789 shares of the textile maker’s stock worth $31,219,000 after purchasing an additional 17,400 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Wolverine World Wide by 1,263.0% during the third 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. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of Wolverine World Wide by 51.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 994,483 shares of the textile maker’s stock worth $17,324,000 after purchasing an additional 335,669 shares during the period. 90.25% of the stock is owned by institutional investors and hedge funds.

Wolverine World Wide Stock Performance

Shares of WWW opened at $13.42 on Wednesday. The firm has a 50-day moving average price of $18.84 and a 200 day moving average price of $19.00. The firm has a market capitalization of $1.08 billion, a PE ratio of 24.39 and a beta of 1.93. The company has a quick ratio of 0.77, a current ratio of 1.29 and a debt-to-equity ratio of 1.79. Wolverine World Wide, Inc. has a 52-week low of $9.07 and a 52-week high of $24.64.

Wolverine World Wide (NYSE:WWW) last announced its earnings results on Wednesday, February 19th. The textile maker reported $0.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.42. The firm had revenue of $494.70 million during the quarter, compared to analyst estimates of $485.74 million. Wolverine World Wide had a net margin of 2.73% and a return on equity of 26.81%. Wolverine World Wide’s revenue was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.30) EPS. On average, sell-side analysts anticipate that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current fiscal year.

Wolverine World Wide Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 1st will be given a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.40 dividend on an annualized basis and a yield of 2.98%. Wolverine World Wide’s dividend payout ratio is presently 72.73%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on WWW. UBS Group dropped their target price on shares of Wolverine World Wide from $29.00 to $26.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $23.00 price objective on shares of Wolverine World Wide in a report on Wednesday, February 19th. StockNews.com cut shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th. Stifel Nicolaus raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating and increased their price objective for the stock from $21.00 to $29.00 in a report on Wednesday, December 11th. Finally, Robert W. Baird dropped their price objective on shares of Wolverine World Wide from $21.00 to $18.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.50.

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.