Wolverine World Wide, Inc. (NYSE:WWW) Shares Sold by Callodine Capital Management LP

Callodine Capital Management LP decreased its position in Wolverine World Wide, Inc. (NYSE:WWW) by 17.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,901,616 shares of the textile maker’s stock after selling 410,884 shares during the period. Wolverine World Wide comprises 8.7% of Callodine Capital Management LP’s investment portfolio, making the stock its 2nd biggest position. Callodine Capital Management LP’s holdings in Wolverine World Wide were worth $42,216,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. HighTower Advisors LLC acquired a new position in Wolverine World Wide in the 3rd quarter worth about $192,000. State Street Corp increased its position in shares of Wolverine World Wide by 0.5% in the third quarter. State Street Corp now owns 3,065,736 shares of the textile maker’s stock valued at $53,405,000 after buying an additional 16,228 shares in the last quarter. Barclays PLC raised its stake in shares of Wolverine World Wide by 767.1% during the 3rd quarter. Barclays PLC now owns 250,830 shares of the textile maker’s stock worth $4,368,000 after buying an additional 221,904 shares during the period. Geode Capital Management LLC lifted its position in shares of Wolverine World Wide by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,791,789 shares of the textile maker’s stock valued at $31,219,000 after buying an additional 17,400 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Wolverine World Wide during the 3rd quarter valued at approximately $113,000. 90.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on WWW shares. Piper Sandler cut their price target on shares of Wolverine World Wide from $27.00 to $18.00 and set an “overweight” rating for the company in a report on Friday, April 11th. UBS Group reduced their price target on shares of Wolverine World Wide from $29.00 to $26.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Robert W. Baird lowered their price objective on Wolverine World Wide from $21.00 to $18.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Telsey Advisory Group reissued a “market perform” rating and set a $23.00 target price on shares of Wolverine World Wide in a report on Wednesday, February 19th. Finally, Stifel Nicolaus decreased their target price on Wolverine World Wide from $27.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $20.25.

Wolverine World Wide Trading Up 2.5 %

Shares of Wolverine World Wide stock opened at $10.80 on Friday. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.29 and a quick ratio of 0.77. The stock’s 50 day simple moving average is $14.00 and its 200-day simple moving average is $18.51. The stock has a market cap of $875.42 million, a P/E ratio of 19.64 and a beta of 1.74. Wolverine World Wide, Inc. has a 1-year low of $9.36 and a 1-year high of $24.64.

Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings results on Wednesday, February 19th. The textile maker reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. The business had revenue of $494.70 million during the quarter, compared to analysts’ expectations of $485.74 million. Wolverine World Wide had a net margin of 2.73% and a return on equity of 26.81%. The business’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.30) EPS. Analysts predict that Wolverine World Wide, Inc. will post 1.23 EPS for the current fiscal year.

Wolverine World Wide Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 1st will be given a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.40 dividend on an annualized basis and a yield of 3.70%. Wolverine World Wide’s dividend payout ratio is currently 72.73%.

Wolverine World Wide Company 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.