Wolverine World Wide, Inc. $WWW Stake Cut by Callodine Capital Management LP

Callodine Capital Management LP lessened its stake in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 37.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,701,360 shares of the textile maker’s stock after selling 1,596,226 shares during the quarter. Wolverine World Wide comprises 6.5% of Callodine Capital Management LP’s portfolio, making the stock its 2nd largest holding. Callodine Capital Management LP owned approximately 3.30% of Wolverine World Wide worth $74,125,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the company. Hara Capital LLC purchased a new position in Wolverine World Wide in the 2nd quarter worth approximately $30,000. Canada Pension Plan Investment Board bought a new stake in shares of Wolverine World Wide during the 2nd quarter worth $34,000. Covestor Ltd grew its position in Wolverine World Wide by 16,025.0% in the third quarter. Covestor Ltd now owns 1,290 shares of the textile maker’s stock worth $35,000 after acquiring an additional 1,282 shares in the last quarter. Aster Capital Management DIFC Ltd increased its stake in Wolverine World Wide by 1,605.8% in the third quarter. Aster Capital Management DIFC Ltd now owns 2,661 shares of the textile maker’s stock valued at $73,000 after acquiring an additional 2,505 shares during the last quarter. Finally, AlphaQuest LLC increased its stake in Wolverine World Wide by 370.0% in the third quarter. AlphaQuest LLC now owns 3,257 shares of the textile maker’s stock valued at $89,000 after acquiring an additional 2,564 shares during the last quarter. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on WWW shares. Zacks Research upgraded Wolverine World Wide from a “strong sell” rating to a “hold” rating in a report on Friday, February 27th. KeyCorp boosted their target price on Wolverine World Wide from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, February 27th. Wall Street Zen upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. Telsey Advisory Group lifted their price target on shares of Wolverine World Wide from $18.00 to $22.00 and gave the stock a “market perform” rating in a research note on Friday, February 27th. Finally, Piper Sandler cut shares of Wolverine World Wide from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $22.00 to $16.00 in a research note on Wednesday, January 7th. Four research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $22.50.

Wolverine World Wide Price Performance

Shares of Wolverine World Wide stock opened at $15.97 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.40 and a quick ratio of 0.87. Wolverine World Wide, Inc. has a one year low of $9.58 and a one year high of $32.80. The business’s 50 day simple moving average is $17.96 and its two-hundred day simple moving average is $21.19. The stock has a market capitalization of $1.30 billion, a P/E ratio of 14.13 and a beta of 1.88.

Wolverine World Wide (NYSE:WWW) last issued its earnings results on Thursday, February 26th. The textile maker reported $0.45 EPS for the quarter, topping the consensus estimate of $0.44 by $0.01. The company had revenue of $517.50 million for the quarter, compared to the consensus estimate of $510.49 million. Wolverine World Wide had a net margin of 5.06% and a return on equity of 29.84%. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.40 earnings per share. Wolverine World Wide has set its FY 2026 guidance at 1.350-1.500 EPS. Analysts forecast that Wolverine World Wide, Inc. will post 1.23 EPS for the current year.

Wolverine World Wide Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Wednesday, April 1st will be issued a $0.10 dividend. The ex-dividend date is Wednesday, April 1st. This represents a $0.40 annualized dividend and a yield of 2.5%. Wolverine World Wide’s dividend payout ratio (DPR) is 35.40%.

Wolverine World Wide Profile

Wolverine World Wide, Inc (NYSE: WWW) is a global footwear and apparel company headquartered in Rockford, Michigan. The company designs, manufactures and markets a diversified portfolio of casual, active and performance lifestyle brands. Wolverine World Wide’s offerings span multiple price points and consumer segments, with products that include outdoor and trail footwear, running shoes, casual sneakers, boat shoes, work boots and related apparel and accessories.

Key brands in Wolverine World Wide’s portfolio include Merrell, an outdoor performance footwear brand; Saucony, known for running shoes and athletic gear; Sperry, which popularized boat shoes; Hush Puppies, a casual and comfort‐oriented line; and Keds, a heritage sneaker label.