Interval Partners LP Invests $672,000 in 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 bought a new position in shares of Wolverine World Wide, Inc. (NYSE:WWW - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 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.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Wolverine World Wide by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 9,005,788 shares of the textile maker's stock worth $125,271,000 after purchasing an additional 45,779 shares in the last quarter. Earnest Partners LLC boosted its position in shares of Wolverine World Wide by 0.8% during the 1st quarter. Earnest Partners LLC now owns 5,270,775 shares of the textile maker's stock worth $73,316,000 after acquiring an additional 41,857 shares in the last quarter. Callodine Capital Management LP boosted its position in shares of Wolverine World Wide by 60.2% during the 1st quarter. Callodine Capital Management LP now owns 3,047,071 shares of the textile maker's stock worth $42,385,000 after acquiring an additional 1,145,455 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of Wolverine World Wide by 11.4% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,107,721 shares of the textile maker's stock worth $24,591,000 after acquiring an additional 113,238 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Wolverine World Wide by 1.1% during the 1st quarter. Northern Trust Corp now owns 1,017,233 shares of the textile maker's stock worth $14,150,000 after acquiring an additional 11,398 shares in the last quarter. Institutional investors and hedge funds own 90.25% of the company's stock.

Wolverine World Wide Price Performance

WWW stock traded up $0.25 during trading on Thursday, hitting $31.13. 517,276 shares of the company's stock traded hands, compared to its average volume of 1,538,159. Wolverine World Wide, Inc. has a 52 week low of $9.58 and a 52 week high of $32.80. 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 business has a fifty day simple moving average of $25.75 and a 200 day simple moving average of $18.66. The stock has a market capitalization of $2.53 billion, a price-to-earnings ratio of 30.49 and a beta of 1.80.

Wolverine World Wide (NYSE:WWW - Get Free Report) last released 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 net margin of 4.73% and a return on equity of 31.99%. The firm had revenue of $474.20 million during the quarter, compared to analyst estimates of $447.82 million. During the same quarter last year, the business earned $0.15 EPS. The business's revenue was up 11.5% on a year-over-year basis. As a group, research analysts expect that Wolverine World Wide, Inc. will post 1.23 EPS for the current fiscal year.

Wolverine World Wide Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Wednesday, October 1st will be issued 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 39.22%.

Insider Activity

In other Wolverine World Wide news, Director Brenda J. Lauderback sold 12,854 shares of the firm's stock in a transaction dated Wednesday, August 27th. The shares were 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. This trade represents a 20.89% decrease in their position. The transaction 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 firm's stock in a transaction dated Thursday, August 28th. The shares were 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 $2,428,373.12. This trade represents a 14.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.28% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on WWW shares. Wall Street Zen upgraded shares of Wolverine World Wide from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Stifel Nicolaus increased their price objective on shares of Wolverine World Wide from $30.00 to $36.00 and gave the company a "buy" rating in a research note on Wednesday, August 27th. Argus raised shares of Wolverine World Wide from a "hold" rating to a "buy" rating and set a $20.00 price objective for the company in a research note on Friday, May 16th. KeyCorp reissued an "overweight" rating and issued a $32.00 price objective (up previously from $25.00) on shares of Wolverine World Wide in a research note on Thursday, August 7th. Finally, Piper Sandler reissued an "overweight" rating and issued a $25.00 price objective (up previously from $20.00) on shares of Wolverine World Wide in a research note on Tuesday, August 5th. One investment 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 stock. According to MarketBeat, Wolverine World Wide currently has a consensus rating of "Buy" and a consensus target price of $27.50.

Wolverine World Wide Company 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.