Bayforest Capital Ltd Makes New $290,000 Investment in Wolverine World Wide, Inc. $WWW

Key Points

• Bayforest Capital Ltd has invested approximately $290,000 in Wolverine World Wide, acquiring 20,842 shares of the company.
• Several institutional investors, including Callodine Capital Management and Goldman Sachs, significantly increased their holdings in Wolverine World Wide during the 1st quarter.
• The company announced a quarterly dividend of $0.10 per share, representing a yield of 1.3%, slated for payment on November 3rd.

Bayforest Capital Ltd acquired a new position in Wolverine World Wide, Inc. (NYSE:WWW - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 20,842 shares of the textile maker's stock, valued at approximately $290,000.

Several other institutional investors and hedge funds have also bought and sold shares of WWW. Callodine Capital Management LP lifted its holdings in 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 worth $42,385,000 after buying an additional 1,145,455 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Wolverine World Wide by 55.6% in 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 during the period. WCM Investment Management LLC purchased a new position in shares of Wolverine World Wide in the 1st quarter valued at approximately $7,164,000. Nuveen Asset Management LLC lifted its stake in shares of Wolverine World Wide by 179.1% in the 4th quarter. Nuveen Asset Management LLC now owns 628,338 shares of the textile maker's stock valued at $13,949,000 after purchasing an additional 403,176 shares during the period. Finally, Manning & Napier Advisors LLC lifted its stake in shares of Wolverine World Wide by 64.6% in the 1st quarter. Manning & Napier Advisors LLC now owns 800,000 shares of the textile maker's stock valued at $11,128,000 after purchasing an additional 313,997 shares during the period. Hedge funds and other institutional investors own 90.25% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. KeyCorp restated an "overweight" rating and issued a $32.00 target price (up previously from $25.00) on shares of Wolverine World Wide in a research note on Thursday, August 7th. Wall Street Zen upgraded Wolverine World Wide from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. UBS Group raised their target price on Wolverine World Wide from $30.00 to $36.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Argus upgraded Wolverine World Wide from a "hold" rating to a "buy" rating and set a $20.00 target price for the company in a research note on Friday, May 16th. Finally, Telsey Advisory Group restated a "market perform" rating and issued a $29.00 target price (up previously from $17.00) on shares of Wolverine World Wide in a research note on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $27.50.

Insider Activity at Wolverine World Wide

In other news, Director Nicholas T. Long sold 12,854 shares of the company's stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $31.84, for a total transaction of $409,271.36. Following the transaction, the director owned 76,268 shares of the company's stock, valued at approximately $2,428,373.12. This represents a 14.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Brenda J. Lauderback sold 12,854 shares of the company's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $32.14, for a total value of $413,127.56. Following the transaction, the director directly owned 48,675 shares in the company, valued at approximately $1,564,414.50. This represents a 20.89% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.28% of the company's stock.

Wolverine World Wide Trading Down 2.0%

Shares of WWW stock opened at $30.88 on Thursday. Wolverine World Wide, Inc. has a 12-month low of $9.58 and a 12-month high of $32.80. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 1.58. The stock's 50-day moving average price is $25.75 and its 200-day moving average price is $18.66. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of 30.28 and a beta of 1.80.

Wolverine World Wide (NYSE:WWW - Get Free Report) last issued its earnings results on Wednesday, August 6th. The textile maker reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.12. Wolverine World Wide had a return on equity of 31.99% and a net margin of 4.73%.The firm had revenue of $474.20 million for the quarter, compared to analysts' expectations of $447.82 million. During the same period in the previous year, the firm posted $0.15 earnings per share. The business's revenue was up 11.5% compared to the same quarter last year. Equities research analysts predict that Wolverine World Wide, Inc. will post 1.23 EPS for the current fiscal year.

Wolverine World Wide Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Wednesday, October 1st will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, October 1st. Wolverine World Wide's payout ratio is presently 39.22%.

About Wolverine World Wide

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.

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