Comerica Bank Sells 669 Shares of Wolverine World Wide, Inc. (NYSE:WWW)

Comerica Bank lessened its holdings in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 2.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,458 shares of the textile maker’s stock after selling 669 shares during the period. Comerica Bank’s holdings in Wolverine World Wide were worth $632,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. HighTower Advisors LLC boosted its stake in Wolverine World Wide by 5.2% in the 4th quarter. HighTower Advisors LLC now owns 11,526 shares of the textile maker’s stock worth $256,000 after purchasing an additional 574 shares in the last quarter. Summit Investment Advisors Inc. boosted its stake in Wolverine World Wide by 7.5% in the 4th quarter. Summit Investment Advisors Inc. now owns 8,305 shares of the textile maker’s stock worth $184,000 after purchasing an additional 581 shares in the last quarter. Signaturefd LLC boosted its stake in Wolverine World Wide by 88.8% in the 4th quarter. Signaturefd LLC now owns 1,450 shares of the textile maker’s stock worth $32,000 after purchasing an additional 682 shares in the last quarter. Natixis Advisors LLC boosted its stake in Wolverine World Wide by 3.8% in the 4th quarter. Natixis Advisors LLC now owns 28,608 shares of the textile maker’s stock worth $635,000 after purchasing an additional 1,035 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in Wolverine World Wide in the 4th quarter worth about $25,000. Institutional investors own 90.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on WWW. Telsey Advisory Group reiterated a “market perform” rating and issued a $17.00 price target on shares of Wolverine World Wide in a research note on Friday, May 9th. Piper Sandler decreased their target price on Wolverine World Wide from $27.00 to $18.00 and set an “overweight” rating for the company in a research report on Friday, April 11th. StockNews.com lowered Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. Baird R W raised Wolverine World Wide from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 21st. Finally, Stifel Nicolaus decreased their target price on Wolverine World Wide from $27.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.71.

Wolverine World Wide Price Performance

NYSE WWW opened at $16.53 on Thursday. Wolverine World Wide, Inc. has a 52 week low of $9.58 and a 52 week high of $24.64. The firm has a market capitalization of $1.34 billion, a P/E ratio of 30.05 and a beta of 1.62. The company has a quick ratio of 0.77, a current ratio of 1.29 and a debt-to-equity ratio of 1.79. The company has a 50-day moving average price of $13.16 and a 200-day moving average price of $18.15.

Wolverine World Wide (NYSE:WWW) last released its quarterly earnings results on Thursday, May 8th. The textile maker reported $0.18 EPS for the quarter, beating the consensus estimate of $0.11 by $0.07. Wolverine World Wide had a net margin of 2.73% and a return on equity of 26.81%. The firm had revenue of $412.30 million during the quarter, compared to analyst estimates of $395.94 million. During the same quarter in the prior year, the firm earned $0.11 EPS. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. Equities research analysts anticipate that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current year.

Wolverine World Wide Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Tuesday, July 1st will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend is Tuesday, July 1st. Wolverine World Wide’s payout ratio is currently 45.98%.

Wolverine World Wide Profile

Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories in the United States, Europe, the Middle East, Africa, the Asia Pacific, Canada and Latin America. It operates through Active Group and Work Group segments. The company offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; kids' footwear; industrial work boots and apparel; and uniform shoes and boots.