Jensen Investment Management Inc buys $589,010 stake in Wolverine World Wide (WWW)

Wolverine World Wide (WWW) : Jensen Investment Management Inc scooped up 3,210 additional shares in Wolverine World Wide during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 26, 2016. The investment management firm now holds a total of 23,760 shares of Wolverine World Wide which is valued at $589,010.Wolverine World Wide makes up approximately 0.01% of Jensen Investment Management Inc’s portfolio.

Other Hedge Funds, Including , Goelzer Investment Management boosted its stake in WWW in the latest quarter, The investment management firm added 59,945 additional shares and now holds a total of 155,525 shares of Wolverine World Wide which is valued at $3,454,210. Wolverine World Wide makes up approx 0.46% of Goelzer Investment Management’s portfolio.Capstone Asset Management Co boosted its stake in WWW in the latest quarter, The investment management firm added 110 additional shares and now holds a total of 34,066 shares of Wolverine World Wide which is valued at $780,793. Wolverine World Wide makes up approx 0.02% of Capstone Asset Management Co’s portfolio. Gw&k Investment Management added WWW to its portfolio by purchasing 1,024,109 company shares during the most recent quarter which is valued at $23,472,578. Wolverine World Wide makes up approx 0.48% of Gw&k Investment Management’s portfolio.

Wolverine World Wide opened for trading at $24.46 and hit $24.7 on the upside on Friday, eventually ending the session at $24.49, with a gain of 0.04% or 0.01 points. The heightened volatility saw the trading volume jump to 11,91,342 shares. Company has a market cap of $2,435 M.

On the company’s financial health, Wolverine World Wide reported $0.25 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 26, 2016. Analyst had a consensus of $0.23. The company had revenue of $583.70 million for the quarter, compared to analysts expectations of $579.25 million. The company’s revenue was down -7.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.27 EPS.

Investors should note that on Jul 22, 2016, Wolverine World Wide announced a cash dividend of $0.0600. The company’s management has announced Sep 29, 2016 as the ex-dividend date and fixed the record date on Oct 3, 2016. The payable date has been fixed on Nov 1, 2016.

Many Wall Street Analysts have commented on Wolverine World Wide. Company shares were Reiterated by Telsey Advisory Group on Jul 27, 2016 to “Market Perform”, Firm has raised the Price Target to $ 23 from a previous price target of $20 .Wolverine World Wide was Upgraded by Susquehanna to ” Positive” on Jul 7, 2016. Company shares were Reiterated by Telsey Advisory Group on May 4, 2016 to “Market Perform”, Firm has raised the Price Target to $ 20 from a previous price target of $19 .

Wolverine World Wide Inc. is a designer manufacturer and marketer of casual footwear and apparel outdoor and athletic footwear and apparel children’s footwear industrial work boots and apparel and uniform shoes and boots. The Company operates in three operating segments: Lifestyle Group consisting of Sperry Top-Sider footwear and apparel Stride Rite footwear and apparel Hush Puppies footwear and apparel Keds footwear and apparel and Soft Style footwear; Performance Group consisting of Merrell footwear and apparel Saucony footwear and apparel Chaco footwear and Cushe footwear and Heritage Group consisting of Wolverine footwear and apparel Cat footwear Bates uniform footwear Sebago footwear and apparel Harley-Davidson footwear and HyTest safety footwear. The Other category consists of the Company’s multi-brand consumer-direct business leather marketing operations and sourcing operations that include third-party commission revenues.

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