Optimize Financial Inc Raises Position in Wolverine World Wide, Inc. $WWW

Key Points

• Optimize Financial Inc increased its stake in Wolverine World Wide by 40.6%, acquiring an additional 14,750 shares, bringing its total ownership to 51,040 shares valued at approximately $705,000.
• The company recently reported earnings of $0.35 per share, exceeding consensus estimates, and experienced an 11.5% increase in revenue year-over-year, totaling $474.20 million for the quarter.
• Wolverine World Wide announced a quarterly dividend of $0.10 per share, set to be paid on November 3rd, and has a dividend yield of 1.3% with a payout ratio of 39.22%.

Optimize Financial Inc boosted its stake in Wolverine World Wide, Inc. (NYSE:WWW - Free Report) by 40.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,040 shares of the textile maker's stock after buying an additional 14,750 shares during the quarter. Optimize Financial Inc owned approximately 0.06% of Wolverine World Wide worth $705,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Wolverine World Wide by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 9,005,788 shares of the textile maker's stock valued at $125,271,000 after buying an additional 45,779 shares in the last quarter. Earnest Partners LLC lifted its stake in Wolverine World Wide by 0.8% in the 1st quarter. Earnest Partners LLC now owns 5,270,775 shares of the textile maker's stock valued at $73,316,000 after buying an additional 41,857 shares in the last quarter. Callodine Capital Management LP lifted its stake in Wolverine World Wide by 60.2% in the 1st quarter. Callodine Capital Management LP now owns 3,047,071 shares of the textile maker's stock valued at $42,385,000 after buying an additional 1,145,455 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Wolverine World Wide by 55.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,504,571 shares of the textile maker's stock valued at $20,929,000 after acquiring an additional 537,854 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in Wolverine World Wide by 11.4% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,107,721 shares of the textile maker's stock valued at $24,591,000 after acquiring an additional 113,238 shares during the last quarter. 90.25% of the stock is owned by hedge funds and other institutional investors.

Wolverine World Wide Trading Up 0.0%

Shares of NYSE WWW traded up $0.02 during midday trading on Friday, reaching $30.54. 1,626,492 shares of the stock were exchanged, compared to its average volume of 1,521,695. Wolverine World Wide, Inc. has a twelve month low of $9.58 and a twelve month high of $32.80. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.75 and a current ratio of 1.24. The company has a 50 day simple moving average of $26.18 and a 200 day simple moving average of $18.90. The stock has a market capitalization of $2.48 billion, a P/E ratio of 29.94 and a beta of 1.80.

Wolverine World Wide (NYSE:WWW - Get Free Report) last posted its earnings results on Wednesday, August 6th. The textile maker reported $0.35 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $447.82 million. During the same quarter last year, the firm earned $0.15 EPS. The firm's revenue for the quarter was up 11.5% on a year-over-year basis. As a group, equities analysts expect that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current year.

Wolverine World Wide Announces Dividend

The business also recently announced 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. This represents a $0.40 annualized dividend and a yield of 1.3%. The ex-dividend date is Wednesday, October 1st. Wolverine World Wide's dividend payout ratio (DPR) is 39.22%.

Insider Activity at Wolverine World Wide

In related news, 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 value of $413,127.56. Following the completion of the sale, the director owned 48,675 shares in the company, valued at approximately $1,564,414.50. This trade represents a 20.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $409,271.36. Following the completion of the sale, the director owned 76,268 shares of the company's stock, valued at $2,428,373.12. This trade represents a 14.42% decrease in their position. The disclosure for this sale can be found here. 2.28% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have commented on the stock. UBS Group increased 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 Thursday, August 7th. Wall Street Zen upgraded shares of Wolverine World Wide from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. KeyCorp reiterated an "overweight" rating and issued a $32.00 price objective (up previously from $25.00) on shares of Wolverine World Wide in a report on Thursday, August 7th. Stifel Nicolaus raised their price target on shares of Wolverine World Wide from $30.00 to $36.00 and gave the stock a "buy" rating in a report on Wednesday, August 27th. Finally, Telsey Advisory Group restated a "market perform" rating and set a $29.00 price target (up previously from $17.00) on shares of Wolverine World Wide in a report on Wednesday, August 6th. One 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. Based on data from MarketBeat, Wolverine World Wide currently has a consensus rating of "Buy" and a consensus price target of $27.50.

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.