Callodine Capital Management LP Purchases 980,839 Shares of Wolverine World Wide, Inc. $WWW

Callodine Capital Management LP increased its position in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 27.8% in the 1st quarter, HoldingsChannel reports. The firm owned 4,505,165 shares of the textile maker’s stock after purchasing an additional 980,839 shares during the period. Wolverine World Wide comprises approximately 5.1% of Callodine Capital Management LP’s holdings, making the stock its 3rd largest position. Callodine Capital Management LP owned about 0.05% of Wolverine World Wide worth $73,524,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Clearstead Advisors LLC boosted its holdings in Wolverine World Wide by 191.8% in the 4th quarter. Clearstead Advisors LLC now owns 1,602 shares of the textile maker’s stock valued at $29,000 after purchasing an additional 1,053 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Wolverine World Wide during the 2nd quarter worth approximately $34,000. Global Retirement Partners LLC raised its stake in shares of Wolverine World Wide by 2,134.9% during the 4th quarter. Global Retirement Partners LLC now owns 2,883 shares of the textile maker’s stock worth $52,000 after buying an additional 2,754 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Wolverine World Wide by 68.1% in the 4th quarter. Quadrant Capital Group LLC now owns 3,040 shares of the textile maker’s stock valued at $55,000 after buying an additional 1,232 shares during the period. Finally, Larson Financial Group LLC lifted its holdings in shares of Wolverine World Wide by 13,834.3% in the 3rd quarter. Larson Financial Group LLC now owns 4,877 shares of the textile maker’s stock valued at $134,000 after buying an additional 4,842 shares during the period. Institutional investors and hedge funds own 90.25% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Zacks Research raised Wolverine World Wide from a “hold” rating to a “strong-buy” rating in a report on Monday, July 6th. Wall Street Zen upgraded Wolverine World Wide from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Weiss Ratings raised Wolverine World Wide from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, June 11th. Telsey Advisory Group decreased their target price on shares of Wolverine World Wide from $22.00 to $18.00 and set a “market perform” rating on the stock in a research report on Friday, May 15th. Finally, Robert W. Baird lowered their price target on shares of Wolverine World Wide from $27.00 to $24.00 and set an “outperform” rating on the stock in a research note on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $21.75.

Insiders Place Their Bets

In other news, Director Brenda J. Lauderback sold 5,500 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $15.88, for a total value of $87,340.00. Following the completion of the transaction, the director owned 54,202 shares in the company, valued at $860,727.76. This trade represents a 9.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.50% of the company’s stock.

Wolverine World Wide Price Performance

WWW stock opened at $18.79 on Friday. The firm has a 50 day moving average of $17.21 and a 200-day moving average of $17.33. The company has a market cap of $1.54 billion, a price-to-earnings ratio of 15.15 and a beta of 1.75. The company has a current ratio of 1.53, a quick ratio of 0.89 and a debt-to-equity ratio of 1.26. Wolverine World Wide, Inc. has a 12-month low of $13.47 and a 12-month high of $32.80.

Wolverine World Wide (NYSE:WWW) last released its quarterly earnings results on Thursday, May 14th. The textile maker reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.03. Wolverine World Wide had a return on equity of 29.37% and a net margin of 5.41%.The business had revenue of $457.60 million for the quarter, compared to analysts’ expectations of $448.44 million. During the same quarter in the prior year, the firm posted $0.18 EPS. The company’s revenue was up 11.0% compared to the same quarter last year. Wolverine World Wide has set its FY 2026 guidance at 1.430-1.580 EPS. As a group, equities analysts expect that Wolverine World Wide, Inc. will post 1.56 EPS for the current fiscal year.

Wolverine World Wide Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Wednesday, July 1st will be issued a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $0.40 annualized dividend and a yield of 2.1%. Wolverine World Wide’s dividend payout ratio is 32.26%.

About Wolverine World Wide

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.