TIAA CREF Investment Management LLC Cuts Stake in Wolverine World Wide, Inc. (WWW)
TIAA CREF Investment Management LLC lowered its holdings in Wolverine World Wide, Inc. (NYSE:WWW) by 2.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 407,315 shares of the textile maker’s stock after selling 8,990 shares during the quarter. TIAA CREF Investment Management LLC owned 0.42% of Wolverine World Wide worth $11,409,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Bank of Montreal Can increased its stake in shares of Wolverine World Wide by 15.1% in the first quarter. Bank of Montreal Can now owns 4,840 shares of the textile maker’s stock worth $121,000 after acquiring an additional 635 shares during the period. Jane Street Group LLC acquired a new stake in Wolverine World Wide during the first quarter valued at $200,000. Everence Capital Management Inc. acquired a new stake in Wolverine World Wide during the second quarter valued at $202,000. Papp L Roy & Associates acquired a new stake in Wolverine World Wide during the second quarter valued at $204,000. Finally, Ronna Sue Cohen acquired a new stake in Wolverine World Wide during the first quarter valued at $208,000. Hedge funds and other institutional investors own 90.84% of the company’s stock.
Several analysts recently commented on WWW shares. ValuEngine lowered shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Thursday, August 24th. Morgan Stanley raised their price target on shares of Wolverine World Wide from $22.50 to $24.50 and gave the company an “equal weight” rating in a research report on Monday, September 25th. BidaskClub upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating in a research report on Saturday, July 1st. Robert W. Baird restated a “buy” rating and set a $32.00 price target on shares of Wolverine World Wide in a research report on Sunday, September 17th. Finally, Zacks Investment Research upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research report on Saturday, August 12th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $24.19.
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Wolverine World Wide, Inc. (WWW) opened at 28.94 on Thursday. The stock has a market capitalization of $2.80 billion, a P/E ratio of 34.01 and a beta of 0.98. The firm’s 50-day moving average is $27.08 and its 200 day moving average is $26.19. Wolverine World Wide, Inc. has a 12-month low of $20.58 and a 12-month high of $29.62.
Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings results on Wednesday, August 9th. The textile maker reported $0.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.14. Wolverine World Wide had a net margin of 3.32% and a return on equity of 15.81%. The business had revenue of $598.80 million for the quarter, compared to analysts’ expectations of $573.78 million. During the same period in the prior year, the company posted $0.26 EPS. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. Equities analysts expect that Wolverine World Wide, Inc. will post $1.62 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Monday, October 2nd will be paid a dividend of $0.06 per share. The ex-dividend date is Friday, September 29th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.83%. Wolverine World Wide’s dividend payout ratio (DPR) is presently 28.24%.
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.
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