Wolverine World Wide, Inc. (NYSE:WWW) Shares Sold by Diamond Hill Capital Management Inc.

Diamond Hill Capital Management Inc. lessened its holdings in Wolverine World Wide, Inc. (NYSE:WWW) by 7.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,113,670 shares of the textile maker’s stock after selling 96,145 shares during the quarter. Diamond Hill Capital Management Inc. owned approximately 1.39% of Wolverine World Wide worth $15,057,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its holdings in Wolverine World Wide by 6.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,771,991 shares of the textile maker’s stock worth $15,753,000 after purchasing an additional 103,368 shares during the period. Bank of New York Mellon Corp boosted its holdings in Wolverine World Wide by 6.5% in the second quarter. Bank of New York Mellon Corp now owns 994,443 shares of the textile maker’s stock worth $13,445,000 after purchasing an additional 60,481 shares during the period. Sei Investments Co. boosted its holdings in Wolverine World Wide by 1.8% in the first quarter. Sei Investments Co. now owns 688,530 shares of the textile maker’s stock worth $7,718,000 after purchasing an additional 12,266 shares during the period. Federated Hermes Inc. boosted its holdings in Wolverine World Wide by 10,607.4% in the second quarter. Federated Hermes Inc. now owns 540,402 shares of the textile maker’s stock worth $7,306,000 after purchasing an additional 535,355 shares during the period. Finally, Manning & Napier Advisors LLC acquired a new position in Wolverine World Wide in the second quarter worth $7,098,000. Institutional investors and hedge funds own 90.25% of the company’s stock.

Wolverine World Wide Stock Performance

WWW stock opened at $14.71 on Monday. The company has a market capitalization of $1.18 billion, a P/E ratio of -15.82 and a beta of 1.76. The company has a 50-day simple moving average of $13.44 and a 200 day simple moving average of $12.30. Wolverine World Wide, Inc. has a fifty-two week low of $7.21 and a fifty-two week high of $15.23. The company has a quick ratio of 0.74, a current ratio of 1.19 and a debt-to-equity ratio of 2.14.

Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings data on Wednesday, August 7th. The textile maker reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.05. The business had revenue of $425.40 million during the quarter, compared to the consensus estimate of $411.20 million. Wolverine World Wide had a negative net margin of 4.42% and a negative return on equity of 0.34%. The company’s quarterly revenue was down 27.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.19 earnings per share. Sell-side analysts predict that Wolverine World Wide, Inc. will post 0.85 earnings per share for the current fiscal year.

Wolverine World Wide Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 1st will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend is Tuesday, October 1st. Wolverine World Wide’s dividend payout ratio (DPR) is presently -43.01%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on WWW shares. KeyCorp raised shares of Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 price target for the company in a report on Thursday, August 8th. Robert W. Baird boosted their price target on shares of Wolverine World Wide from $13.00 to $15.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Argus raised shares of Wolverine World Wide to a “hold” rating in a report on Friday, August 16th. Telsey Advisory Group reissued a “market perform” rating and set a $14.00 price target on shares of Wolverine World Wide in a report on Wednesday, August 7th. Finally, UBS Group raised shares of Wolverine World Wide from a “neutral” rating to a “buy” rating and boosted their price target for the company from $13.00 to $20.00 in a report on Friday, July 19th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Wolverine World Wide has an average rating of “Moderate Buy” and an average target price of $17.17.

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.