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

Callodine Capital Management LP lowered its stake in shares of Wolverine World Wide, Inc. (NYSE:WWW - Free Report) by 17.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,901,616 shares of the textile maker's stock after selling 410,884 shares during the quarter. Wolverine World Wide accounts for 8.7% of Callodine Capital Management LP's holdings, making the stock its 2nd biggest holding. Callodine Capital Management LP owned approximately 2.37% of Wolverine World Wide worth $42,216,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of WWW. SBI Securities Co. Ltd. bought a new position in Wolverine World Wide during the fourth quarter valued at $25,000. Signaturefd LLC boosted its position in shares of Wolverine World Wide by 88.8% during the fourth quarter. Signaturefd LLC now owns 1,450 shares of the textile maker's stock valued at $32,000 after buying an additional 682 shares during the period. KBC Group NV grew its stake in shares of Wolverine World Wide by 43.8% during the fourth quarter. KBC Group NV now owns 4,303 shares of the textile maker's stock valued at $96,000 after buying an additional 1,311 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Wolverine World Wide by 12.5% during the 4th quarter. GAMMA Investing LLC now owns 5,057 shares of the textile maker's stock worth $112,000 after acquiring an additional 563 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in Wolverine World Wide during the 3rd quarter valued at $113,000. Hedge funds and other institutional investors own 90.25% of the company's stock.

Wolverine World Wide Stock Performance

Wolverine World Wide stock traded up $0.28 during midday trading on Wednesday, hitting $12.51. 510,974 shares of the company were exchanged, compared to its average volume of 1,302,491. The business has a fifty day simple moving average of $13.53 and a two-hundred day simple moving average of $18.40. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.77 and a current ratio of 1.29. The firm has a market capitalization of $1.01 billion, a PE ratio of 22.75 and a beta of 1.74. Wolverine World Wide, Inc. has a fifty-two week low of $9.58 and a fifty-two week high of $24.64.

Wolverine World Wide (NYSE:WWW - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The textile maker reported $0.42 EPS for the quarter, hitting analysts' consensus estimates of $0.42. Wolverine World Wide had a net margin of 2.73% and a return on equity of 26.81%. The business had revenue of $494.70 million for the quarter, compared to analysts' expectations of $485.74 million. During the same quarter last year, the company earned ($0.30) EPS. The business's revenue was down 6.1% on a year-over-year basis. On average, sell-side analysts forecast that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current year.

Wolverine World Wide Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 1st will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 3.20%. The ex-dividend date of this dividend is Tuesday, April 1st. Wolverine World Wide's payout ratio is currently 72.73%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Piper Sandler lowered their price objective on shares of Wolverine World Wide from $27.00 to $18.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. Robert W. Baird upgraded shares of Wolverine World Wide from a "neutral" rating to an "outperform" rating and set a $15.00 target price for the company in a report on Monday. Telsey Advisory Group restated a "market perform" rating and issued a $23.00 price target on shares of Wolverine World Wide in a report on Wednesday, February 19th. UBS Group boosted their price objective on shares of Wolverine World Wide from $17.00 to $18.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, Stifel Nicolaus cut their price target on shares of Wolverine World Wide from $27.00 to $19.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $18.88.

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.