Wolverine World Wide, Inc. $WWW Shares Purchased by Invesco Ltd.

Key Points

• Invesco Ltd. increased its stake in Wolverine World Wide by 36.1% in the first quarter, acquiring an additional 252,331 shares, bringing its total ownership to 951,235 shares valued at approximately $13.2 million.
• Wolverine World Wide's stock price saw an increase of 6.4% recently, opening at $30.72, while the company reported a 11.5% year-over-year revenue growth, totaling $474.20 million for the quarter.
• The company announced a quarterly dividend of $0.10 per share, translating to an annualized yield of 1.3%, with a payout ratio currently at 39.22%.

Invesco Ltd. raised its holdings in shares of Wolverine World Wide, Inc. (NYSE:WWW - Free Report) by 36.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 951,235 shares of the textile maker's stock after buying an additional 252,331 shares during the quarter. Invesco Ltd. owned about 1.17% of Wolverine World Wide worth $13,232,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. PNC Financial Services Group Inc. grew its holdings in shares of Wolverine World Wide by 10.4% during the first quarter. PNC Financial Services Group Inc. now owns 9,132 shares of the textile maker's stock worth $127,000 after buying an additional 863 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Wolverine World Wide by 3.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,159 shares of the textile maker's stock worth $1,003,000 after buying an additional 1,495 shares in the last quarter. Captrust Financial Advisors grew its holdings in shares of Wolverine World Wide by 6.6% during the fourth quarter. Captrust Financial Advisors now owns 26,834 shares of the textile maker's stock worth $596,000 after buying an additional 1,667 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Wolverine World Wide by 0.8% during the first quarter. Rhumbline Advisers now owns 226,441 shares of the textile maker's stock worth $3,150,000 after buying an additional 1,852 shares in the last quarter. Finally, Natixis purchased a new stake in shares of Wolverine World Wide during the fourth quarter worth $41,000. Hedge funds and other institutional investors own 90.25% of the company's stock.

Wolverine World Wide Trading Up 2.2%

NYSE WWW traded up $0.71 during trading hours on Thursday, reaching $32.43. The company had a trading volume of 1,597,923 shares, compared to its average volume of 2,161,101. The stock has a 50-day moving average of $23.33 and a 200 day moving average of $17.80. Wolverine World Wide, Inc. has a 1-year low of $9.58 and a 1-year high of $32.59. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 1.58. The stock has a market capitalization of $2.63 billion, a P/E ratio of 31.79 and a beta of 1.74.

Wolverine World Wide (NYSE:WWW - Get Free Report) last posted its earnings results on Wednesday, August 6th. The textile maker reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.12. Wolverine World Wide had a net margin of 4.73% and a return on equity of 31.99%. The company had revenue of $474.20 million for the quarter, compared to analysts' expectations of $447.82 million. During the same quarter in the prior year, the company posted $0.15 earnings per share. Wolverine World Wide's revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, research analysts anticipate that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current fiscal year.

Wolverine World Wide Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Wednesday, October 1st will be given a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $0.40 dividend on an annualized basis and a yield of 1.2%. Wolverine World Wide's dividend payout ratio is presently 39.22%.

Analyst Ratings Changes

A number of brokerages recently issued reports on WWW. Argus raised shares of Wolverine World Wide from a "hold" rating to a "buy" rating and set a $20.00 price objective for the company in a report on Friday, May 16th. Stifel Nicolaus upped their price objective on shares of Wolverine World Wide from $30.00 to $36.00 and gave the company a "buy" rating in a report on Wednesday. Robert W. Baird upped their price objective on shares of Wolverine World Wide from $15.00 to $20.00 and gave the company an "outperform" rating in a report on Tuesday, May 6th. Telsey Advisory Group reissued a "market perform" rating and issued a $29.00 price objective (up previously from $17.00) on shares of Wolverine World Wide in a report on Wednesday, August 6th. Finally, Wall Street Zen raised shares of Wolverine World Wide from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Wolverine World Wide presently has an average rating of "Buy" and an average target price of $27.50.

Insider Transactions at Wolverine World Wide

In related news, Director Nicholas T. Long sold 12,854 shares of Wolverine World Wide stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $31.84, for a total value of $409,271.36. Following the completion of the transaction, the director owned 76,268 shares in the company, valued at approximately $2,428,373.12. The trade was a 14.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Brenda J. Lauderback sold 12,854 shares of Wolverine World Wide stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $32.14, for a total transaction of $413,127.56. Following the completion of the transaction, the director owned 48,675 shares of the company's stock, valued at $1,564,414.50. This trade represents a 20.89% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.28% of the company's stock.

Wolverine World Wide Company 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.