Bank of New York Mellon Corp Sells 262,259 Shares of Wolverine World Wide, Inc. (NYSE:WWW)

Bank of New York Mellon Corp lessened its position in Wolverine World Wide, Inc. (NYSE:WWW) by 28.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 659,845 shares of the textile maker’s stock after selling 262,259 shares during the quarter. Bank of New York Mellon Corp owned 0.82% of Wolverine World Wide worth $14,649,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake 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 valued at $112,000 after purchasing an additional 563 shares during the period. KBC Group NV boosted its position in Wolverine World Wide by 43.8% in the 4th quarter. KBC Group NV now owns 4,303 shares of the textile maker’s stock valued at $96,000 after buying an additional 1,311 shares during the period. Intech Investment Management LLC boosted its position in 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 valued at $687,000 after buying an additional 1,866 shares during the period. Captrust Financial Advisors grew its stake in Wolverine World Wide by 21.3% in the 3rd quarter. Captrust Financial Advisors now owns 25,167 shares of the textile maker’s stock worth $438,000 after acquiring an additional 4,413 shares in the last quarter. Finally, Natixis Advisors LLC increased its position in shares of Wolverine World Wide by 20.5% during the third quarter. Natixis Advisors LLC now owns 27,573 shares of the textile maker’s stock worth $480,000 after acquiring an additional 4,694 shares during the period. Institutional investors own 90.25% of the company’s stock.

Wall Street Analyst Weigh In

WWW has been the subject of a number of research reports. Stifel Nicolaus upgraded Wolverine World Wide from a “hold” rating to a “buy” rating and boosted their price target for the company from $21.00 to $29.00 in a report on Wednesday, December 11th. UBS Group lowered their target price on Wolverine World Wide from $29.00 to $26.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Robert W. Baird dropped their price target on Wolverine World Wide from $21.00 to $18.00 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. StockNews.com downgraded Wolverine World Wide from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th. Finally, 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. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $21.50.

Wolverine World Wide Price Performance

Shares of WWW stock opened at $13.41 on Thursday. The company has a market cap of $1.08 billion, a P/E ratio of 24.39 and a beta of 1.93. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.29 and a quick ratio of 0.77. The stock’s 50-day moving average is $19.57 and its 200 day moving average is $18.97. Wolverine World Wide, Inc. has a 1-year low of $9.07 and a 1-year high of $24.64.

Wolverine World Wide (NYSE:WWW) last released its quarterly 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. The business had revenue of $494.70 million for the quarter, compared to analysts’ expectations of $485.74 million. Wolverine World Wide had a net margin of 2.73% and a return on equity of 26.81%. The company’s revenue was down 6.1% compared to the same quarter last year. During the same period last year, the business earned ($0.30) EPS. Research analysts predict that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current fiscal year.

Wolverine World Wide Dividend Announcement

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

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.