Sheets Smith Wealth Management Invests $273,000 in Wolverine World Wide, Inc. (NYSE:WWW)

Sheets Smith Wealth Management purchased a new stake in Wolverine World Wide, Inc. (NYSE:WWW) in the 4th quarter, HoldingsChannel reports. The fund purchased 12,280 shares of the textile maker’s stock, valued at approximately $273,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Future Financial Wealth Managment LLC acquired a new position in shares of Wolverine World Wide during the third quarter valued at about $35,000. Cedar Mountain Advisors LLC acquired a new position in Wolverine World Wide during the 3rd quarter valued at about $70,000. GAMMA Investing LLC increased its holdings in Wolverine World Wide by 15.9% during the 3rd quarter. GAMMA Investing LLC now owns 4,494 shares of the textile maker’s stock worth $78,000 after purchasing an additional 616 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Wolverine World Wide in the second quarter worth approximately $68,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Wolverine World Wide in the third quarter valued at approximately $113,000. Institutional investors own 90.25% of the company’s stock.

Wolverine World Wide Trading Down 1.5 %

Shares of NYSE:WWW opened at $22.54 on Thursday. The company has a 50-day moving average price of $22.83 and a two-hundred day moving average price of $17.74. Wolverine World Wide, Inc. has a twelve month low of $8.05 and a twelve month high of $24.64. The company has a current ratio of 1.23, a quick ratio of 0.77 and a debt-to-equity ratio of 1.91.

Wolverine World Wide Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 2nd will be issued a dividend of $0.10 per share. The ex-dividend date is Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 1.77%. Wolverine World Wide’s payout ratio is -44.94%.

Insiders Place Their Bets

In related news, insider Amy M. Klimek sold 24,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $22.07, for a total transaction of $529,680.00. Following the sale, the insider now owns 20,238 shares of the company’s stock, valued at approximately $446,652.66. This represents a 54.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Isabel Soriano sold 7,687 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $23.57, for a total transaction of $181,182.59. Following the completion of the transaction, the insider now directly owns 34,206 shares of the company’s stock, valued at approximately $806,235.42. The trade was a 18.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,901 shares of company stock worth $916,266 over the last 90 days. Corporate insiders own 2.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Telsey Advisory Group reissued a “market perform” rating and issued a $15.00 price target on shares of Wolverine World Wide in a research report on Thursday, November 7th. Stifel Nicolaus raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating and raised their price target for the company from $21.00 to $29.00 in a research report on Wednesday, December 11th. BNP Paribas raised shares of Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 price objective for the company in a research report on Thursday, October 3rd. Finally, StockNews.com upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Wolverine World Wide presently has an average rating of “Moderate Buy” and an average price target of $19.38.

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.