Wolverine World Wide, Inc. $WWW is Callodine Capital Management LP’s Largest Position

Callodine Capital Management LP raised its position in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 41.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,297,586 shares of the textile maker’s stock after purchasing an additional 1,250,515 shares during the quarter. Wolverine World Wide accounts for 8.0% of Callodine Capital Management LP’s portfolio, making the stock its largest position. Callodine Capital Management LP owned approximately 5.29% of Wolverine World Wide worth $77,700,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Federated Hermes Inc. lifted its stake in Wolverine World Wide by 23.6% during the 2nd quarter. Federated Hermes Inc. now owns 942,642 shares of the textile maker’s stock valued at $17,043,000 after acquiring an additional 180,184 shares during the period. Marshall Wace LLP lifted its position in Wolverine World Wide by 65.5% during the second quarter. Marshall Wace LLP now owns 835,831 shares of the textile maker’s stock valued at $15,112,000 after purchasing an additional 330,725 shares during the period. Invesco Ltd. lifted its position in Wolverine World Wide by 4.8% during the second quarter. Invesco Ltd. now owns 997,217 shares of the textile maker’s stock valued at $18,030,000 after purchasing an additional 45,982 shares during the period. Lido Advisors LLC purchased a new stake in Wolverine World Wide in the second quarter valued at $263,000. Finally, Russell Investments Group Ltd. raised its stake in shares of Wolverine World Wide by 28.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 191,971 shares of the textile maker’s stock valued at $3,471,000 after buying an additional 42,947 shares during the last quarter. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Wolverine World Wide

In other Wolverine World Wide news, Director Jack Boyle purchased 6,250 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were purchased at an average cost of $15.77 per share, with a total value of $98,562.50. Following the completion of the purchase, the director owned 6,250 shares in the company, valued at approximately $98,562.50. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, insider Amy M. Klimek sold 11,528 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $22.32, for a total transaction of $257,304.96. The disclosure for this sale is available in the SEC filing. Insiders have acquired 33,250 shares of company stock valued at $524,573 over the last ninety days. 2.28% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on WWW shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Wolverine World Wide in a report on Monday, December 1st. KeyCorp decreased their target price on shares of Wolverine World Wide from $32.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. Telsey Advisory Group restated a “market perform” rating and set a $18.00 price target (down previously from $29.00) on shares of Wolverine World Wide in a research report on Wednesday, November 5th. Wall Street Zen downgraded shares of Wolverine World Wide from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Stifel Nicolaus set a $25.00 target price on shares of Wolverine World Wide in a research note on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Wolverine World Wide currently has an average rating of “Moderate Buy” and a consensus price target of $23.29.

Wolverine World Wide Stock Up 0.7%

WWW opened at $17.38 on Friday. The company has a market cap of $1.42 billion, a PE ratio of 16.72 and a beta of 1.94. Wolverine World Wide, Inc. has a twelve month low of $9.58 and a twelve month high of $32.80. The company has a 50-day moving average price of $21.12 and a 200 day moving average price of $22.69. The company has a quick ratio of 0.79, a current ratio of 1.34 and a debt-to-equity ratio of 1.40.

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

Wolverine World Wide Announces Dividend

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

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.