Miles Capital Inc. Takes $222,000 Position in Wolverine World Wide, Inc. (WWW)
Miles Capital Inc. purchased a new position in shares of Wolverine World Wide, Inc. (NYSE:WWW) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 7,928 shares of the textile maker’s stock, valued at approximately $222,000.
Other large investors also recently bought and sold shares of the company. Teacher Retirement System of Texas acquired a new position in shares of Wolverine World Wide in the 2nd quarter valued at $221,000. Chicago Equity Partners LLC grew its stake 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 buying an additional 23,790 shares during the period. FMR LLC grew its stake in shares of Wolverine World Wide by 6.8% during the 1st quarter. FMR LLC now owns 1,937,005 shares of the textile maker’s stock valued at $48,367,000 after buying an additional 123,641 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Wolverine World Wide by 5.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,687,149 shares of the textile maker’s stock valued at $117,039,000 after buying an additional 226,965 shares during the period. Finally, KCG Holdings Inc. increased its holdings in shares of Wolverine World Wide by 342.0% during the 1st quarter. KCG Holdings Inc. now owns 77,112 shares of the textile maker’s stock worth $1,925,000 after buying an additional 59,666 shares during the last quarter. 90.84% of the stock is currently owned by institutional investors.
WWW has been the topic of several research reports. Morgan Stanley increased their target price on Wolverine World Wide from $22.50 to $24.50 and gave the stock an “equal weight” rating in a research report on Monday, September 25th. Robert W. Baird reiterated a “buy” rating and issued a $32.00 target price on shares of Wolverine World Wide in a report on Sunday, September 17th. ValuEngine downgraded Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Thursday, August 24th. Zacks Investment Research raised Wolverine World Wide from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a research report on Saturday, August 12th. Finally, Piper Jaffray Companies set a $25.00 price target on Wolverine World Wide and gave the company a “hold” rating in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $24.19.
Wolverine World Wide, Inc. (WWW) traded down 0.17% on Tuesday, reaching $29.39. The company’s stock had a trading volume of 58,207 shares. The stock has a 50 day moving average price of $26.95 and a 200-day moving average price of $26.15. Wolverine World Wide, Inc. has a 1-year low of $20.58 and a 1-year high of $29.62. The company has a market capitalization of $2.84 billion, a price-to-earnings ratio of 34.54 and a beta of 0.98.
Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings results on Wednesday, August 9th. The textile maker reported $0.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.14. Wolverine World Wide had a return on equity of 15.81% and a net margin of 3.32%. The business had revenue of $598.80 million during the quarter, compared to analysts’ expectations of $573.78 million. During the same quarter in the previous year, the business posted $0.26 EPS. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. Equities analysts predict that Wolverine World Wide, Inc. will post $1.62 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Monday, October 2nd will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.82%. The ex-dividend date is Friday, September 29th. Wolverine World Wide’s payout ratio is presently 28.24%.
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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