Creative Planning Makes New Investment in Wolverine World Wide, Inc. $WWW

Creative Planning purchased a new position in Wolverine World Wide, Inc. (NYSE:WWW) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 31,271 shares of the textile maker’s stock, valued at approximately $565,000.

Several other large investors also recently modified their holdings of WWW. Vanguard Group Inc. lifted its holdings in Wolverine World Wide by 0.5% in the first 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 during the period. Earnest Partners LLC raised its position in shares of 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 worth $73,316,000 after acquiring an additional 41,857 shares in the last quarter. Callodine Capital Management LP lifted its stake in shares of 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 purchasing an additional 1,145,455 shares during the period. Geode Capital Management LLC boosted its position in shares of Wolverine World Wide by 1.8% during the 2nd quarter. Geode Capital Management LLC now owns 1,869,339 shares of the textile maker’s stock valued at $33,802,000 after purchasing an additional 32,493 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Wolverine World Wide by 55.6% during 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 purchasing an additional 537,854 shares in the last quarter. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Wolverine World Wide Trading Down 0.9%

WWW opened at $17.30 on Friday. Wolverine World Wide, Inc. has a fifty-two week low of $9.58 and a fifty-two week high of $32.80. The firm has a market capitalization of $1.42 billion, a PE ratio of 16.64 and a beta of 1.94. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.34 and a quick ratio of 0.79. The company’s 50-day moving average is $21.33 and its 200 day moving average is $22.65.

Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings data on Wednesday, November 5th. The textile maker reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. Wolverine World Wide had a return on equity of 31.43% and a net margin of 4.73%.The firm had revenue of $470.30 million during the quarter, compared to analyst estimates of $461.46 million. During the same period in the previous year, the company posted $0.28 EPS. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. Wolverine World Wide has set its FY 2025 guidance at 1.290-1.340 EPS. As a group, research analysts predict that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current fiscal year.

Wolverine World Wide Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Friday, January 2nd will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Friday, January 2nd. Wolverine World Wide’s payout ratio is currently 38.46%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on WWW shares. Wall Street Zen lowered Wolverine World Wide from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Telsey Advisory Group reiterated a “market perform” rating and set a $18.00 target price (down previously from $29.00) on shares of Wolverine World Wide in a research report on Wednesday, November 5th. Weiss Ratings restated a “hold (c-)” rating on shares of Wolverine World Wide in a report on Monday. Robert W. Baird decreased their price target on shares of Wolverine World Wide from $35.00 to $23.00 and set an “outperform” rating for the company in a research note on Thursday, November 6th. Finally, KeyCorp cut their price objective on shares of Wolverine World Wide from $32.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Wolverine World Wide currently has an average rating of “Moderate Buy” and an average target price of $23.29.

Insider Activity

In other news, insider Amy M. Klimek sold 11,528 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $22.32, for a total value of $257,304.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Demonty Price purchased 25,000 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were purchased at an average cost of $15.77 per share, for a total transaction of $394,250.00. Following the completion of the transaction, the director directly owned 75,000 shares of the company’s stock, valued at $1,182,750. This represents a 50.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have bought 33,250 shares of company stock worth $524,573. 2.28% of the stock is owned by insiders.

Wolverine World Wide 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.