Woodson Capital Management LP Sells 349,228 Shares of Wolverine World Wide, Inc. $WWW

Woodson Capital Management LP lessened its holdings in Wolverine World Wide, Inc. (NYSE:WWW) by 29.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 820,000 shares of the textile maker’s stock after selling 349,228 shares during the quarter. Wolverine World Wide makes up 4.1% of Woodson Capital Management LP’s holdings, making the stock its 13th largest holding. Woodson Capital Management LP owned about 1.01% of Wolverine World Wide worth $22,501,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. SRS Investment Management LLC purchased a new stake in shares of Wolverine World Wide during the second quarter worth about $3,754,000. Federated Hermes Inc. raised its position in Wolverine World Wide by 23.6% during the second quarter. Federated Hermes Inc. now owns 942,642 shares of the textile maker’s stock valued at $17,043,000 after acquiring an additional 180,184 shares in the last quarter. Callodine Capital Management LP lifted its holdings in Wolverine World Wide by 41.0% in the second quarter. Callodine Capital Management LP now owns 4,297,586 shares of the textile maker’s stock valued at $77,700,000 after acquiring an additional 1,250,515 shares during the period. Strs Ohio purchased a new stake in Wolverine World Wide in the 1st quarter worth approximately $666,000. Finally, Boston Partners purchased a new position in shares of Wolverine World Wide during the 2nd quarter valued at approximately $3,651,000. 90.25% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Wolverine World Wide

In related news, Director Nicholas T. Long acquired 2,000 shares of Wolverine World Wide stock in a transaction dated Friday, November 7th. The shares were acquired at an average cost of $15.88 per share, for a total transaction of $31,760.00. Following the completion of the transaction, the director directly owned 78,268 shares of the company’s stock, valued at $1,242,895.84. The trade was a 2.62% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Amy M. Klimek sold 11,528 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $22.32, for a total transaction of $257,304.96. The SEC filing for this sale provides additional information. Over the last quarter, insiders acquired 33,250 shares of company stock worth $524,573. Corporate insiders own 2.28% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on WWW shares. UBS Group dropped their price objective on Wolverine World Wide from $28.00 to $26.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. Stifel Nicolaus set a $25.00 price target on shares of Wolverine World Wide in a report on Thursday, November 6th. Wall Street Zen downgraded shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Wolverine World Wide in a research note on Monday, December 29th. Finally, Robert W. Baird cut their target price on Wolverine World Wide from $35.00 to $23.00 and set an “outperform” rating for the company in a research note on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.71.

Wolverine World Wide Price Performance

WWW stock opened at $19.37 on Friday. The company has a current ratio of 1.34, a quick ratio of 0.79 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $1.59 billion, a P/E ratio of 18.62 and a beta of 1.92. Wolverine World Wide, Inc. has a twelve month low of $9.58 and a twelve month high of $32.80. The business has a 50 day simple moving average of $17.34 and a 200-day simple moving average of $22.82.

Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings results on Wednesday, November 5th. The textile maker reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.03. Wolverine World Wide had a return on equity of 31.43% and a net margin of 4.73%.The firm had revenue of $470.30 million during the quarter, compared to the consensus estimate of $461.46 million. During the same period last year, the company earned $0.28 earnings per share. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. Wolverine World Wide has set its FY 2025 guidance at 1.290-1.340 EPS. As a group, equities analysts anticipate that Wolverine World Wide, Inc. will post 1.23 EPS for the current year.

Wolverine World Wide Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Friday, January 2nd will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Friday, January 2nd. Wolverine World Wide’s dividend payout ratio (DPR) is presently 38.46%.

Wolverine World Wide Company Profile

Wolverine World Wide, Inc (NYSE: WWW) is a global footwear and apparel company headquartered in Rockford, Michigan. The company designs, manufactures and markets a diversified portfolio of casual, active and performance lifestyle brands. Wolverine World Wide’s offerings span multiple price points and consumer segments, with products that include outdoor and trail footwear, running shoes, casual sneakers, boat shoes, work boots and related apparel and accessories.

Key brands in Wolverine World Wide’s portfolio include Merrell, an outdoor performance footwear brand; Saucony, known for running shoes and athletic gear; Sperry, which popularized boat shoes; Hush Puppies, a casual and comfort‐oriented line; and Keds, a heritage sneaker label.