Interval Partners LP Purchases Shares of 48,331 Wolverine World Wide, Inc. $WWW

Key Points

• Interval Partners LP has acquired 48,331 shares of Wolverine World Wide, Inc. (NYSE: WWW) valued at approximately $672,000, representing about 0.06% of the company's stock.
• Wolverine World Wide reported a quarterly earnings per share (EPS) of $0.35, exceeding estimates by $0.12, with revenue increasing 11.5% year-over-year.
• The company recently announced a quarterly dividend of $0.10 per share, with a payout ratio of 39.22% and a yield of 1.3%, payable on November 3rd.

Interval Partners LP purchased a new stake in Wolverine World Wide, Inc. (NYSE:WWW - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 48,331 shares of the textile maker's stock, valued at approximately $672,000. Interval Partners LP owned approximately 0.06% of Wolverine World Wide as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of WWW. Callodine Capital Management LP raised its holdings in shares of 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 acquiring an additional 1,145,455 shares in the last quarter. WCM Investment Management LLC purchased a new stake in shares of Wolverine World Wide in the 1st quarter valued at about $7,164,000. Nuveen Asset Management LLC raised its holdings 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 acquiring an additional 403,176 shares in the last quarter. Driehaus Capital Management LLC raised its holdings in shares of Wolverine World Wide by 135.5% in the 4th quarter. Driehaus Capital Management LLC now owns 593,693 shares of the textile maker's stock valued at $13,180,000 after acquiring an additional 341,601 shares in the last quarter. Finally, Manning & Napier Advisors LLC raised its holdings 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 acquiring an additional 313,997 shares in the last quarter. Hedge funds and other institutional investors own 90.25% of the company's stock.

Insider Activity at Wolverine World Wide

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

Wolverine World Wide Price Performance

WWW opened at $31.84 on Friday. The stock's 50 day simple moving average is $25.01 and its 200 day simple moving average is $18.33. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.24 and a quick ratio of 0.75. Wolverine World Wide, Inc. has a 1 year low of $9.58 and a 1 year high of $32.80. The firm has a market cap of $2.59 billion, a price-to-earnings ratio of 31.21 and a beta of 1.80.

Wolverine World Wide (NYSE:WWW - Get Free Report) last posted its quarterly 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 business had revenue of $474.20 million for the quarter, compared to analyst estimates of $447.82 million. During the same period last year, the company earned $0.15 EPS. Wolverine World Wide's revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, 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 declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Wednesday, October 1st will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.3%. The ex-dividend date is Wednesday, October 1st. Wolverine World Wide's dividend payout ratio (DPR) is presently 39.22%.

Analysts Set New Price Targets

WWW has been the topic of several recent analyst reports. UBS Group raised their price target on Wolverine World Wide from $30.00 to $36.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Telsey Advisory Group reiterated a "market perform" rating and set a $29.00 price objective (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 set a $25.00 price objective (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 "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, Stifel Nicolaus increased their price objective on Wolverine World Wide from $30.00 to $36.00 and gave the company a "buy" rating in a research report on Wednesday, August 27th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $27.50.

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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