Graham Capital Management L.P. Buys Shares of 97,109 Wolverine World Wide, Inc. $WWW

Key Points

• Graham Capital Management L.P. acquired 97,109 shares of Wolverine World Wide, Inc. for approximately $1.35 million, representing 0.12% of the company's stock.
• Wolverine World Wide announced a quarterly dividend of $0.10 per share, which will be paid on November 3rd, indicating a 1.3% yield.
• The company reported earnings of $0.35 EPS, surpassing analyst estimates of $0.23, and achieved a revenue of $474.20 million for the quarter, reflecting an 11.5% year-over-year growth.

Graham Capital Management L.P. bought a new stake in Wolverine World Wide, Inc. (NYSE:WWW - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 97,109 shares of the textile maker's stock, valued at approximately $1,351,000. Graham Capital Management L.P. owned approximately 0.12% of Wolverine World Wide as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Wolverine World Wide by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 9,005,788 shares of the textile maker's stock valued at $125,271,000 after buying an additional 45,779 shares in the last quarter. Earnest Partners LLC grew its holdings in Wolverine World Wide by 0.8% in the 1st quarter. Earnest Partners LLC now owns 5,270,775 shares of the textile maker's stock valued at $73,316,000 after buying an additional 41,857 shares in the last quarter. Callodine Capital Management LP grew 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 valued at $42,385,000 after buying an additional 1,145,455 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in Wolverine World Wide by 11.4% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,107,721 shares of the textile maker's stock valued at $24,591,000 after buying an additional 113,238 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Wolverine World Wide by 1.1% in the 1st quarter. Northern Trust Corp now owns 1,017,233 shares of the textile maker's stock valued at $14,150,000 after buying an additional 11,398 shares in the last quarter. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

Wolverine World Wide Price Performance

WWW opened at $31.35 on Wednesday. The stock's 50-day moving average price is $24.20 and its 200 day moving average price is $18.05. Wolverine World Wide, Inc. has a 12-month low of $9.58 and a 12-month high of $32.59. 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 firm has a market cap of $2.55 billion, a price-to-earnings ratio of 30.74 and a beta of 1.80.

Wolverine World Wide (NYSE:WWW - Get Free Report) last posted 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 analyst estimates of $447.82 million. During the same quarter in the prior year, the company earned $0.15 EPS. Wolverine World Wide's revenue was up 11.5% on a year-over-year basis. As a group, sell-side analysts expect that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current year.

Wolverine World Wide Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Wednesday, October 1st will be paid 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 yield of 1.3%. Wolverine World Wide's dividend payout ratio is presently 39.22%.

Analyst Ratings Changes

Several brokerages have issued reports on WWW. Telsey Advisory Group restated a "market perform" rating and issued a $29.00 target price (up from $17.00) on shares of Wolverine World Wide in a report on Wednesday, August 6th. Wall Street Zen upgraded Wolverine World Wide from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Piper Sandler reiterated an "overweight" rating and set a $25.00 price target (up from $20.00) on shares of Wolverine World Wide in a report on Tuesday, August 5th. Argus upgraded Wolverine World Wide from a "hold" rating to a "buy" rating and set a $20.00 price target for the company in a report on Friday, May 16th. Finally, Stifel Nicolaus increased their price target on Wolverine World Wide from $30.00 to $36.00 and gave the stock a "buy" rating in a report on Wednesday, August 27th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $27.50.

Insider Activity

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

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.

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