Trade Report: The Principal Financial Group Inc. Raises its position in Wolverine World Wide Inc. (WWW) as a favorable investment target.

The Principal Financial Group Inc. Raises its position in Wolverine World Wide Inc. (WWW) as a favorable investment target.

Principal Financial Group Inc. raised its stake in shares of Wolverine World Wide Inc. (NYSE:WWW) by 2.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 718,409 shares of the company’s stock after buying an additional 20,273 shares during the period. Principal Financial Group Inc. owned 0.72% of Wolverine World Wide worth $14,598,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Ronna Sue Cohen raised its position in Wolverine World Wide by 0.3% in the second quarter. Ronna Sue Cohen now owns 12,322 shares of the company’s stock valued at $250,000 after buying an additional 36 shares during the last quarter. Capstone Asset Management Co. raised its position in Wolverine World Wide by 0.3% in the second quarter. Capstone Asset Management Co. now owns 34,066 shares of the company’s stock valued at $692,000 after buying an additional 110 shares during the last quarter. Anchor Capital Advisors LLC raised its position in Wolverine World Wide by 0.3% in the second quarter. Anchor Capital Advisors LLC now owns 45,948 shares of the company’s stock valued at $934,000 after buying an additional 151 shares during the last quarter. Nationwide Fund Advisors raised its position in Wolverine World Wide by 0.3% in the second quarter. Nationwide Fund Advisors now owns 75,647 shares of the company’s stock valued at $1,537,000 after buying an additional 214 shares during the last quarter. Finally, Eagle Boston Investment Management Inc. raised its position in Wolverine World Wide by 1.1% in the second quarter. Eagle Boston Investment Management Inc. now owns 32,777 shares of the company’s stock valued at $666,000 after buying an additional 366 shares during the last quarter. Hedge funds and other institutional investors own 89.69% of the company’s stock.

Wolverine World Wide Inc. (NYSE:WWW) traded down 0.18% during trading on Friday, reaching $22.71. 652,381 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $23.31 and its 200-day moving average price is $20.88. Wolverine World Wide Inc. has a 52-week low of $14.74 and a 52-week high of $25.54. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of 23.01 and a beta of 0.76.

Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.02. The business earned $583.70 million during the quarter, compared to analyst estimates of $578.99 million. Wolverine World Wide had a return on equity of 13.60% and a net margin of 3.81%. The firm’s revenue was down 7.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.27 EPS. Equities analysts expect that Wolverine World Wide Inc. will post $1.37 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Monday, October 3rd will be issued a dividend of $0.06 per share. The ex-dividend date is Thursday, September 29th. This represents a $0.24 annualized dividend and a dividend yield of 1.06%. Wolverine World Wide’s dividend payout ratio is 24.49%.

Several research analysts recently commented on the stock. B. Riley restated a “neutral” rating and issued a $22.00 price target on shares of Wolverine World Wide in a report on Monday, July 25th. Susquehanna raised shares of Wolverine World Wide from a “neutral” rating to a “positive” rating and increased their price objective for the company from $18.00 to $25.00 in a research report on Thursday, July 7th. Zacks Investment Research raised shares of Wolverine World Wide from a “sell” rating to a “hold” rating and set a $27.00 price objective for the company in a research report on Thursday, July 28th. Argus reaffirmed a “buy” rating on shares of Wolverine World Wide in a research report on Wednesday, August 3rd. Finally, Telsey Advisory Group increased their price objective on shares of Wolverine World Wide from $20.00 to $23.00 and gave the company a “market perform” rating in a research report on Wednesday, July 27th. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $21.30.

About Wolverine World Wide

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