Capricorn Fund Managers Ltd Makes New Investment in Wolverine World Wide, Inc. $WWW

Key Points

• Capricorn Fund Managers Ltd has initiated a new investment by purchasing 200,000 shares of Wolverine World Wide, Inc. for approximately $3.6 million, making it the fund's 27th largest holding.
• Wolverine World Wide reported a Quarter 2 EPS of $0.35, exceeding analysts' estimates, and enjoyed a year-over-year revenue increase of 11.5%.
• The company declared a quarterly dividend of $0.10 per share, translating to an annualized dividend of $0.40, with a yield of 1.6%, reflecting a payout ratio of 39.22%.

Capricorn Fund Managers Ltd purchased a new position in shares of Wolverine World Wide, Inc. (NYSE:WWW - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 200,000 shares of the textile maker's stock, valued at approximately $3,616,000. Wolverine World Wide comprises approximately 1.7% of Capricorn Fund Managers Ltd's investment portfolio, making the stock its 27th largest holding. Capricorn Fund Managers Ltd owned 0.25% of Wolverine World Wide at the end of the most recent quarter.

Several other large investors have also modified their holdings of WWW. Hilltop National Bank purchased a new position in Wolverine World Wide in the second quarter valued at approximately $85,000. PNC Financial Services Group Inc. increased its stake in shares of Wolverine World Wide by 10.4% in the first quarter. PNC Financial Services Group Inc. now owns 9,132 shares of the textile maker's stock worth $127,000 after buying an additional 863 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Wolverine World Wide by 48.7% in the second quarter. GAMMA Investing LLC now owns 8,000 shares of the textile maker's stock worth $145,000 after buying an additional 2,619 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in Wolverine World Wide in the first quarter worth $163,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in Wolverine World Wide in the fourth quarter worth $204,000. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

Wolverine World Wide Price Performance

Shares of WWW stock opened at $25.34 on Friday. The stock's fifty day moving average is $28.54 and its 200-day moving average is $20.36. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.75 and a current ratio of 1.24. The stock has a market capitalization of $2.06 billion, a PE ratio of 24.85 and a beta of 1.81. Wolverine World Wide, Inc. has a 52 week low of $9.58 and a 52 week high of $32.80.

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

Wolverine World Wide Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Wednesday, October 1st will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $0.40 annualized dividend and a dividend yield of 1.6%. Wolverine World Wide's payout ratio is 39.22%.

Insider Activity at Wolverine World Wide

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

Wall Street Analyst Weigh In

WWW has been the subject of several analyst reports. Weiss Ratings reissued a "hold (c)" rating on shares of Wolverine World Wide in a report on Saturday, September 27th. Telsey Advisory Group reiterated a "market perform" rating and issued a $29.00 price target (up from $17.00) on shares of Wolverine World Wide in a research report on Wednesday, August 6th. Piper Sandler reiterated an "overweight" rating and issued a $25.00 price target (up from $20.00) on shares of Wolverine World Wide in a research report on Tuesday, August 5th. Wall Street Zen upgraded Wolverine World Wide from a "buy" rating to a "strong-buy" rating in a report on Friday. Finally, Stifel Nicolaus lifted 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 Wednesday, August 27th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Wolverine World Wide has a consensus rating of "Moderate Buy" and an average target price of $28.29.

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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