Northern Trust Corp Raises Stake in Wolverine World Wide, Inc. $WWW

Key Points

• Northern Trust Corp increased its stake in Wolverine World Wide, acquiring an additional 11,398 shares and owning a total of 1,017,233 shares valued at $14.15 million, representing 1.26% of the company.
• Wolverine World Wide reported earnings of $0.35 per share, surpassing analyst expectations, with revenues of $474.20 million, up 11.5% year-over-year.
• The company announced a quarterly dividend of $0.10 per share, set to be paid on November 3rd, with a current dividend yield of 1.3% and a payout ratio of 39.22%.

Northern Trust Corp increased its position in shares of Wolverine World Wide, Inc. (NYSE:WWW - Free Report) by 1.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,017,233 shares of the textile maker's stock after acquiring an additional 11,398 shares during the period. Northern Trust Corp owned approximately 1.26% of Wolverine World Wide worth $14,150,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of WWW. Point72 Asia Singapore Pte. Ltd. bought a new stake in Wolverine World Wide during the 4th quarter worth approximately $64,000. PNC Financial Services Group Inc. increased its holdings in shares of Wolverine World Wide by 10.4% in the 1st 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 during the last quarter. Teacher Retirement System of Texas bought a new position in shares of Wolverine World Wide in the 1st quarter worth $163,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Wolverine World Wide in the 4th quarter worth $204,000. Finally, Integrated Investment Consultants LLC increased its holdings in shares of Wolverine World Wide by 31.9% in the 1st quarter. Integrated Investment Consultants LLC now owns 15,137 shares of the textile maker's stock worth $211,000 after buying an additional 3,665 shares during the last quarter. Institutional investors own 90.25% of the company's stock.

Wolverine World Wide Stock Performance

Shares of WWW stock traded down $0.18 during trading hours on Friday, reaching $31.84. The company had a trading volume of 1,520,465 shares, compared to its average volume of 1,669,807. The business has a fifty day moving average price of $25.01 and a 200-day moving average price of $18.35. Wolverine World Wide, Inc. has a one year low of $9.58 and a one year high of $32.80. The firm has a market cap of $2.59 billion, a PE ratio of 31.21 and a beta of 1.80. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.75 and a current ratio of 1.24.

Wolverine World Wide (NYSE:WWW - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The textile maker reported $0.35 EPS for the quarter, topping 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 firm had revenue of $474.20 million during the quarter, compared to analyst estimates of $447.82 million. During the same period in the previous year, the business posted $0.15 earnings per share. The business's revenue for the quarter was up 11.5% on a year-over-year basis. Sell-side analysts predict that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current fiscal year.

Wolverine World Wide Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Wednesday, October 1st will be issued 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 dividend yield of 1.3%. Wolverine World Wide's dividend payout ratio (DPR) is presently 39.22%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $29.00 price objective (up previously from $17.00) on shares of Wolverine World Wide in a research note on Wednesday, August 6th. Wall Street Zen raised shares of Wolverine World Wide from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. KeyCorp reaffirmed an "overweight" rating and issued a $32.00 target price (up from $25.00) on shares of Wolverine World Wide in a research report on Thursday, August 7th. UBS Group raised their target price on shares of Wolverine World Wide from $30.00 to $36.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Finally, Stifel Nicolaus raised their target price on shares of Wolverine World Wide from $30.00 to $36.00 and gave the stock a "buy" rating in a research report on Wednesday, August 27th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $27.50.

Insider Buying and Selling

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