20,842 Shares in Wolverine World Wide, Inc. (NYSE:WWW) Bought by Bayforest Capital Ltd

Key Points

• Bayforest Capital Ltd has acquired 20,842 shares of Wolverine World Wide, Inc. worth approximately $290,000, indicating growing institutional interest in the company.
• Wolverine World Wide reported earnings of $0.18 per share for the latest quarter, exceeding analyst estimates, and has shown a revenue increase of 4.4% year-over-year.
• The company has announced a quarterly dividend of $0.10 per share, which translates to an annualized dividend of $0.40 and a yield of 1.8%.

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 fund acquired 20,842 shares of the textile maker's stock, valued at approximately $290,000.

A number of other institutional investors have also recently bought and sold shares of WWW. Natixis acquired a new stake in Wolverine World Wide during the fourth quarter worth about $41,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Wolverine World Wide during the 4th quarter worth approximately $64,000. Summit Investment Advisors Inc. boosted its position in shares of Wolverine World Wide by 7.5% during the 4th quarter. Summit Investment Advisors Inc. now owns 8,305 shares of the textile maker's stock worth $184,000 after acquiring an additional 581 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in Wolverine World Wide in the fourth quarter valued at approximately $204,000. Finally, Commonwealth Equity Services LLC bought a new position in Wolverine World Wide in the fourth quarter valued at approximately $221,000. Institutional investors own 90.25% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on WWW. Piper Sandler reduced their target price on Wolverine World Wide from $27.00 to $18.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. Baird R W raised Wolverine World Wide from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 21st. Robert W. Baird lifted their target price on Wolverine World Wide from $15.00 to $20.00 and gave the company an "outperform" rating in a research report on Tuesday, May 6th. UBS Group set a $30.00 target price on shares of Wolverine World Wide and gave the stock a "buy" rating in a report on Monday. Finally, Stifel Nicolaus reduced 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 research note on Thursday, April 10th. Two research analysts have rated the stock with a hold rating, seven have assigned 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 price target of $20.75.

Wolverine World Wide Trading Down 2.0%

Shares of NYSE:WWW traded down $0.45 during midday trading on Friday, hitting $22.13. 1,896,699 shares of the stock were exchanged, compared to its average volume of 1,393,247. The business's 50-day moving average price is $19.08 and its 200 day moving average price is $17.03. Wolverine World Wide, Inc. has a 12 month low of $9.58 and a 12 month high of $24.64. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.77 and a current ratio of 1.26. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of 25.44 and a beta of 1.74.

Wolverine World Wide (NYSE:WWW - Get Free Report) last posted its earnings results on Thursday, May 8th. The textile maker reported $0.18 EPS for the quarter, topping the consensus estimate of $0.11 by $0.07. Wolverine World Wide had a net margin of 4.15% and a return on equity of 28.74%. The business had revenue of $412.30 million for the quarter, compared to the consensus estimate of $395.94 million. During the same period last year, the company earned $0.11 EPS. The firm's revenue was up 4.4% compared to the same quarter last year. Analysts predict that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current year.

Wolverine World Wide Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Wednesday, October 1st will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Wednesday, October 1st. Wolverine World Wide's dividend payout ratio is presently 45.98%.

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.