California Public Employees Retirement System lowered its position in World Wrestling Entertainment, Inc. (NYSE:WWE) by 5.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 83,037 shares of the company’s stock after selling 4,375 shares during the period. California Public Employees Retirement System owned approximately 0.11% of World Wrestling Entertainment worth $6,205,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of WWE. Wells Fargo & Company MN grew its position in shares of World Wrestling Entertainment by 115.7% in the 3rd quarter. Wells Fargo & Company MN now owns 1,029,062 shares of the company’s stock worth $99,540,000 after buying an additional 551,947 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of World Wrestling Entertainment in the 4th quarter worth approximately $14,943,000. Morgan Stanley grew its position in shares of World Wrestling Entertainment by 84.8% in the 3rd quarter. Morgan Stanley now owns 408,210 shares of the company’s stock worth $39,486,000 after buying an additional 187,290 shares during the last quarter. Federated Investors Inc. PA grew its position in shares of World Wrestling Entertainment by 110.6% in the 3rd quarter. Federated Investors Inc. PA now owns 229,226 shares of the company’s stock worth $22,173,000 after buying an additional 120,396 shares during the last quarter. Finally, Deutsche Bank AG grew its position in shares of World Wrestling Entertainment by 63.6% in the 3rd quarter. Deutsche Bank AG now owns 268,738 shares of the company’s stock worth $25,992,000 after buying an additional 104,452 shares during the last quarter. 59.20% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:WWE opened at $88.12 on Wednesday. The company has a market cap of $6.55 billion, a price-to-earnings ratio of 78.68 and a beta of 1.29. World Wrestling Entertainment, Inc. has a twelve month low of $34.69 and a twelve month high of $97.69. The company has a current ratio of 1.33, a quick ratio of 1.30 and a debt-to-equity ratio of 0.08.

World Wrestling Entertainment (NYSE:WWE) last released its earnings results on Thursday, February 7th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.14. The company had revenue of $272.50 million for the quarter, compared to the consensus estimate of $255.01 million. World Wrestling Entertainment had a net margin of 10.71% and a return on equity of 34.02%. World Wrestling Entertainment’s revenue was up 28.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.20 EPS. On average, equities research analysts expect that World Wrestling Entertainment, Inc. will post 1.24 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, March 25th. Shareholders of record on Friday, March 15th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend is Thursday, March 14th. World Wrestling Entertainment’s dividend payout ratio is presently 42.86%.

In other World Wrestling Entertainment news, insider George A. Barrios sold 60,000 shares of World Wrestling Entertainment stock in a transaction that occurred on Monday, January 28th. The shares were sold at an average price of $81.52, for a total transaction of $4,891,200.00. Following the completion of the sale, the insider now directly owns 287,103 shares in the company, valued at approximately $23,404,636.56. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider George A. Barrios sold 40,000 shares of World Wrestling Entertainment stock in a transaction that occurred on Wednesday, February 27th. The shares were sold at an average price of $83.80, for a total transaction of $3,352,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 137,500 shares of company stock worth $10,891,075. 45.10% of the stock is owned by insiders.

A number of research analysts have recently issued reports on WWE shares. Guggenheim lifted their price objective on shares of World Wrestling Entertainment from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, November 28th. Zacks Investment Research raised shares of World Wrestling Entertainment from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a research report on Monday, January 14th. KeyCorp set a $104.00 price objective on shares of World Wrestling Entertainment and gave the stock a “buy” rating in a research report on Wednesday, January 23rd. Loop Capital assumed coverage on shares of World Wrestling Entertainment in a research report on Friday, December 21st. They issued a “hold” rating and a $85.00 price objective on the stock. Finally, FBN Securities raised shares of World Wrestling Entertainment from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, November 27th. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $94.50.

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World Wrestling Entertainment Company Profile

World Wrestling Entertainment, Inc, an integrated media and entertainment company, engages in the sports entertainment business in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. It operates in three segments: Media, Live Events, and Consumer Products. The Media segment engages in the production and monetization of long-form and short-form media content across various platforms, including WWE Network, pay television, and digital and social media, as well as filmed entertainment.

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Institutional Ownership by Quarter for World Wrestling Entertainment (NYSE:WWE)

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