State of Tennessee Treasury Department lowered its stake in Wolverine World Wide, Inc. (NYSE:WWW) by 2.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 90,594 shares of the textile maker’s stock after selling 2,360 shares during the quarter. State of Tennessee Treasury Department owned approximately 0.09% of Wolverine World Wide worth $2,538,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Eagle Boston Investment Management Inc. boosted its position in shares of Wolverine World Wide by 83.7% during the 2nd quarter. Eagle Boston Investment Management Inc. now owns 63,888 shares of the textile maker’s stock valued at $1,683,000 after acquiring an additional 29,105 shares during the last quarter. Chicago Equity Partners LLC boosted its position in shares of Wolverine World Wide by 23.8% during the 2nd quarter. Chicago Equity Partners LLC now owns 123,715 shares of the textile maker’s stock valued at $3,465,000 after acquiring an additional 23,790 shares during the last quarter. Heartland Advisors Inc. boosted its position in shares of Wolverine World Wide by 33.8% during the 2nd quarter. Heartland Advisors Inc. now owns 471,123 shares of the textile maker’s stock valued at $13,196,000 after acquiring an additional 118,961 shares during the last quarter. Crawford Investment Counsel Inc. boosted its position in shares of Wolverine World Wide by 4.2% during the 2nd quarter. Crawford Investment Counsel Inc. now owns 136,640 shares of the textile maker’s stock valued at $3,827,000 after acquiring an additional 5,500 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Wolverine World Wide by 0.3% during the 2nd quarter. Principal Financial Group Inc. now owns 757,012 shares of the textile maker’s stock valued at $21,204,000 after acquiring an additional 2,279 shares during the last quarter. Institutional investors and hedge funds own 91.28% of the company’s stock.

Shares of Wolverine World Wide, Inc. (WWW) opened at 26.85 on Friday. The firm has a 50-day moving average price of $26.79 and a 200 day moving average price of $25.92. The company has a market capitalization of $2.59 billion, a P/E ratio of 31.55 and a beta of 0.94. Wolverine World Wide, Inc. has a 12-month low of $20.58 and a 12-month high of $28.64.

Wolverine World Wide (NYSE:WWW) last announced its earnings results on Wednesday, August 9th. The textile maker reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.14. The business had revenue of $598.80 million for the quarter, compared to analysts’ expectations of $573.78 million. Wolverine World Wide had a return on equity of 15.81% and a net margin of 3.32%. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.26 EPS. On average, equities research analysts predict that Wolverine World Wide, Inc. will post $1.61 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Monday, October 2nd will be given a $0.06 dividend. The ex-dividend date of this dividend is Friday, September 29th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.89%. Wolverine World Wide’s payout ratio is 28.24%.

A number of brokerages recently weighed in on WWW. ValuEngine cut Wolverine World Wide from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. BidaskClub raised Wolverine World Wide from a “hold” rating to a “buy” rating in a report on Saturday, July 1st. Piper Jaffray Companies set a $25.00 price objective on Wolverine World Wide and gave the company a “hold” rating in a report on Wednesday, August 9th. Finally, Zacks Investment Research raised Wolverine World Wide from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a report on Saturday, August 12th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. Wolverine World Wide has a consensus rating of “Hold” and an average price target of $23.86.

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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. 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.

Institutional Ownership by Quarter for Wolverine World Wide (NYSE:WWW)

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