Deprince Race & Zollo Inc. Invests $30,362,000 in Wolverine World Wide Inc. (WWW)
Deprince Race & Zollo Inc. purchased a new position in Wolverine World Wide Inc. (NYSE:WWW) during the second quarter, Holdings Channel reports. The fund purchased 1,494,170 shares of the company’s stock, valued at approximately $30,362,000.
Several other institutional investors have also added to or reduced their stakes in the company. Cambiar Investors LLC acquired a new position in Wolverine World Wide during the second quarter worth $26,419,000. GW&K Investment Management LLC acquired a new position in Wolverine World Wide during the second quarter worth $20,810,000. Jensen Investment Management Inc. boosted its position in Wolverine World Wide by 15.6% in the second quarter. Jensen Investment Management Inc. now owns 23,760 shares of the company’s stock worth $483,000 after buying an additional 3,210 shares in the last quarter. Goelzer Investment Management Inc. boosted its position in Wolverine World Wide by 62.7% in the second quarter. Goelzer Investment Management Inc. now owns 155,525 shares of the company’s stock worth $3,160,000 after buying an additional 59,945 shares in the last quarter. Finally, Eagle Boston Investment Management Inc. boosted its position in Wolverine World Wide by 1.1% in the second quarter. Eagle Boston Investment Management Inc. now owns 32,777 shares of the company’s stock worth $666,000 after buying an additional 366 shares in the last quarter. Institutional investors and hedge funds own 89.69% of the company’s stock.
Shares of Wolverine World Wide Inc. (NYSE:WWW) traded down 0.48% during trading on Monday, hitting $22.92. The stock had a trading volume of 652,788 shares. Wolverine World Wide Inc. has a 12-month low of $14.74 and a 12-month high of $25.54. The stock has a 50-day moving average of $23.50 and a 200 day moving average of $20.76. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of 23.22 and a beta of 0.76.
Wolverine World Wide (NYSE:WWW) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.02. Wolverine World Wide had a return on equity of 13.60% and a net margin of 3.81%. The company earned $583.70 million during the quarter, compared to analysts’ expectations of $578.99 million. During the same period in the previous year, the firm posted $0.27 earnings per share. The business’s revenue for the quarter was down 7.4% compared to the same quarter last year. On average, analysts predict that Wolverine World Wide Inc. will post $1.37 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Monday, October 3rd will be issued a $0.06 dividend. The ex-dividend date is Thursday, September 29th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.05%. Wolverine World Wide’s dividend payout ratio (DPR) is 24.49%.
A number of equities analysts have recently weighed in on the company. Zacks Investment Research upgraded Wolverine World Wide from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a report on Wednesday, September 28th. B. Riley restated a “neutral” rating and set a $26.00 target price on shares of Wolverine World Wide in a report on Wednesday, August 31st. Susquehanna assumed coverage on Wolverine World Wide in a report on Friday, August 12th. They set a “negative” rating and a $20.00 target price for the company. Argus restated a “buy” rating on shares of Wolverine World Wide in a report on Wednesday, August 3rd. Finally, Telsey Advisory Group raised their target price on Wolverine World Wide from $20.00 to $23.00 and gave the company a “market perform” rating in a report on Wednesday, July 27th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. Wolverine World Wide presently has a consensus rating of “Hold” and an average price target of $21.55.
About Wolverine World Wide
Wolverine World Wide, Inc is a designer, manufacturer and marketer of a range of casual footwear and apparel, outdoor and athletic footwear and apparel, children’s footwear, industrial work boots and apparel, and uniform shoes and boots. The Company’s products are marketed around the world in approximately 200 countries and territories through Company-owned wholesale and consumer-direct operations, and third-party licensees and distributors.
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