ProShare Advisors LLC Sells 3,699 Shares of Wolverine World Wide, Inc. (NYSE:WWW)

ProShare Advisors LLC decreased its position in Wolverine World Wide, Inc. (NYSE:WWW) by 23.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,009 shares of the textile maker’s stock after selling 3,699 shares during the period. ProShare Advisors LLC’s holdings in Wolverine World Wide were worth $162,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of WWW. GAMMA Investing LLC lifted its holdings in shares of Wolverine World Wide by 42.5% in the 1st quarter. GAMMA Investing LLC now owns 4,504 shares of the textile maker’s stock worth $50,000 after buying an additional 1,343 shares during the period. Canada Pension Plan Investment Board purchased a new stake in Wolverine World Wide in the second quarter worth about $68,000. Central Pacific Bank Trust Division purchased a new stake in Wolverine World Wide in the first quarter worth about $81,000. Natixis bought a new position in Wolverine World Wide during the 1st quarter worth about $112,000. Finally, EntryPoint Capital LLC purchased a new position in Wolverine World Wide during the 1st quarter valued at about $141,000. Institutional investors own 90.25% of the company’s stock.

Wolverine World Wide Stock Performance

Shares of WWW opened at $17.79 on Friday. The company has a current ratio of 1.19, a quick ratio of 0.74 and a debt-to-equity ratio of 2.14. The firm has a market cap of $1.42 billion, a PE ratio of -19.13 and a beta of 1.77. Wolverine World Wide, Inc. has a 12 month low of $7.21 and a 12 month high of $18.51. The stock has a fifty day moving average price of $14.33 and a 200-day moving average price of $12.96.

Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings results on Wednesday, August 7th. The textile maker reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.05. Wolverine World Wide had a negative return on equity of 0.34% and a negative net margin of 4.42%. The business had revenue of $425.40 million during the quarter, compared to the consensus estimate of $411.20 million. During the same quarter last year, the company earned $0.19 earnings per share. The company’s quarterly revenue was down 27.8% on a year-over-year basis. Equities research analysts predict that Wolverine World Wide, Inc. will post 0.85 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 Friday, November 1st. Stockholders of record on Tuesday, October 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 2.25%. The ex-dividend date of this dividend is Tuesday, October 1st. Wolverine World Wide’s dividend payout ratio (DPR) is presently -43.01%.

Insider Activity at Wolverine World Wide

In other Wolverine World Wide news, insider David A. Latchana sold 7,706 shares of Wolverine World Wide stock in a transaction dated Thursday, September 26th. The stock was 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 of the company’s stock, valued at approximately $236,390.78. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.28% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

WWW has been the subject of several research reports. Robert W. Baird upped their price target on shares of Wolverine World Wide from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Telsey Advisory Group restated a “market perform” rating and set a $14.00 target price on shares of Wolverine World Wide in a report on Wednesday, August 7th. BNP Paribas upgraded Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 price target on the stock in a report on Thursday. KeyCorp raised Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 price target for the company in a research report on Thursday, August 8th. Finally, UBS Group upgraded Wolverine World Wide from a “neutral” rating to a “buy” rating and lifted their target price for the company from $13.00 to $20.00 in a research note on Friday, July 19th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Wolverine World Wide has an average rating of “Moderate Buy” and a consensus target price of $17.86.

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.