Keybank National Association OH Cuts Stock Holdings in Wolverine World Wide, Inc. (NYSE:WWW)

Keybank National Association OH trimmed its holdings in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 17.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,035 shares of the textile maker’s stock after selling 1,896 shares during the period. Keybank National Association OH’s holdings in Wolverine World Wide were worth $201,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new stake in Wolverine World Wide during the fourth quarter valued at about $25,000. KBC Group NV boosted its holdings in shares of Wolverine World Wide by 43.8% during the fourth quarter. KBC Group NV now owns 4,303 shares of the textile maker’s stock worth $96,000 after purchasing an additional 1,311 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Wolverine World Wide by 12.5% during the fourth quarter. GAMMA Investing LLC now owns 5,057 shares of the textile maker’s stock worth $112,000 after purchasing an additional 563 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Wolverine World Wide during the third quarter worth about $113,000. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of Wolverine World Wide by 375.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 5,552 shares of the textile maker’s stock worth $122,000 after purchasing an additional 4,384 shares during the period. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Wolverine World Wide Price Performance

Shares of NYSE WWW opened at $13.64 on Wednesday. Wolverine World Wide, Inc. has a fifty-two week low of $9.07 and a fifty-two week high of $24.64. The company has a 50 day simple moving average of $19.74 and a two-hundred day simple moving average of $19.01. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of 24.80 and a beta of 1.93. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.77 and a current ratio of 1.29.

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

Wolverine World Wide Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend is Tuesday, April 1st. Wolverine World Wide’s dividend payout ratio is 72.73%.

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.