Teacher Retirement System of Texas Has $1.05 Million Holdings in Wolverine World Wide, Inc. (WWW)
Teacher Retirement System of Texas raised its stake in Wolverine World Wide, Inc. (NYSE:WWW) by 309.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 32,961 shares of the textile maker’s stock after buying an additional 24,907 shares during the period. Teacher Retirement System of Texas’ holdings in Wolverine World Wide were worth $1,051,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Wolverine World Wide by 50.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,883 shares of the textile maker’s stock worth $156,000 after purchasing an additional 1,646 shares during the period. Public Employees Retirement Association of Colorado purchased a new position in shares of Wolverine World Wide during the 4th quarter worth $171,000. Community Financial Services Group LLC purchased a new position in shares of Wolverine World Wide during the 4th quarter worth $212,000. Fox Run Management L.L.C. purchased a new position in shares of Wolverine World Wide during the 4th quarter worth $308,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in shares of Wolverine World Wide during the 2nd quarter worth $304,000. Institutional investors and hedge funds own 93.12% of the company’s stock.
In related news, insider James D. Zwiers sold 100,600 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $29.79, for a total transaction of $2,996,874.00. Following the transaction, the insider now owns 190,893 shares of the company’s stock, valued at approximately $5,686,702.47. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 5.65% of the stock is currently owned by corporate insiders.
Wolverine World Wide (NYSE:WWW) last posted its earnings results on Wednesday, February 21st. The textile maker reported $0.41 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.41. Wolverine World Wide had a return on equity of 16.20% and a net margin of 0.01%. The firm had revenue of $578.60 million for the quarter, compared to analyst estimates of $579.87 million. During the same quarter in the prior year, the company earned $0.34 EPS. Wolverine World Wide’s revenue was down 20.7% on a year-over-year basis. analysts forecast that Wolverine World Wide, Inc. will post 2.02 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Monday, April 2nd will be paid a dividend of $0.08 per share. This is a positive change from Wolverine World Wide’s previous quarterly dividend of $0.06. The ex-dividend date is Thursday, March 29th. This represents a $0.32 annualized dividend and a yield of 1.10%. Wolverine World Wide’s dividend payout ratio is presently 800.00%.
WWW has been the subject of a number of research analyst reports. Zacks Investment Research cut Wolverine World Wide from a “buy” rating to a “hold” rating in a report on Saturday, January 6th. Citigroup reiterated a “neutral” rating and set a $32.00 price target (up from $29.00) on shares of Wolverine World Wide in a report on Monday, February 12th. Piper Jaffray Companies reiterated a “hold” rating and set a $26.00 price target on shares of Wolverine World Wide in a report on Wednesday, November 8th. TheStreet cut Wolverine World Wide from a “b” rating to a “c+” rating in a report on Wednesday, November 8th. Finally, Pivotal Research cut Wolverine World Wide from a “buy” rating to a “hold” rating and set a $33.00 price target for the company. in a report on Friday, February 9th. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $28.88.
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Wolverine World Wide Profile
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. It operates in four segments: Wolverine Outdoor & Lifestyle Group, which offers Merrell footwear and apparel, Cat footwear, Hush Puppies footwear and apparel, and Chaco footwear; Wolverine Boston Group, which offers Sperry footwear and apparel, Saucony footwear and apparel, and Keds footwear and apparel; Wolverine Heritage Group, which offers Wolverine footwear and apparel, Bates uniform footwear, Harley-Davidson footwear and HyTest safety footwear, and Wolverine Multi-Brand Group, which offers Stride Rite footwear and apparel, and its multi-brand consumer-direct businesses.
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