Capricorn Fund Managers Ltd Takes Position in Wolverine World Wide, Inc. $WWW

Capricorn Fund Managers Ltd bought a new position in shares of Wolverine World Wide, Inc. (NYSE:WWW) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 200,000 shares of the textile maker’s stock, valued at approximately $3,616,000. Wolverine World Wide accounts for about 1.7% of Capricorn Fund Managers Ltd’s investment portfolio, making the stock its 27th largest position.

Other large investors have also added to or reduced their stakes in the company. Hilltop National Bank bought a new position in Wolverine World Wide in the second quarter worth approximately $85,000. GAMMA Investing LLC lifted its holdings in shares of Wolverine World Wide by 48.7% in the second quarter. GAMMA Investing LLC now owns 8,000 shares of the textile maker’s stock valued at $145,000 after purchasing an additional 2,619 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Wolverine World Wide by 10.4% during the first quarter. PNC Financial Services Group Inc. now owns 9,132 shares of the textile maker’s stock valued at $127,000 after acquiring an additional 863 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Wolverine World Wide during the fourth quarter valued at approximately $204,000. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Wolverine World Wide during the first quarter valued at approximately $163,000. Institutional investors and hedge funds own 90.25% of the company’s stock.

Wall Street Analysts Forecast Growth

WWW has been the subject of several recent research reports. Telsey Advisory Group reiterated a “market perform” rating and issued a $29.00 price target (up from $17.00) on shares of Wolverine World Wide in a research report on Wednesday, August 6th. Stifel Nicolaus lifted their price target on Wolverine World Wide from $30.00 to $36.00 and gave the stock a “buy” rating in a research note on Wednesday, August 27th. Wall Street Zen raised Wolverine World Wide from a “buy” rating to a “strong-buy” rating in a research note on Friday. UBS Group boosted 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. Finally, Piper Sandler restated an “overweight” rating and set a $25.00 price target (up previously from $20.00) on shares of Wolverine World Wide in a report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $28.29.

Wolverine World Wide Trading Down 4.2%

NYSE:WWW opened at $25.34 on Friday. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.24 and a quick ratio of 0.75. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of 24.85 and a beta of 1.81. Wolverine World Wide, Inc. has a one year low of $9.58 and a one year high of $32.80. The business has a fifty day moving average price of $28.54 and a 200-day moving average price of $20.36.

Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings data on Wednesday, August 6th. The textile maker reported $0.35 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 during the quarter, compared to analyst estimates of $447.82 million. During the same period in the prior year, the business posted $0.15 EPS. Wolverine World Wide’s revenue was up 11.5% on a year-over-year basis. Sell-side analysts forecast that Wolverine World Wide, Inc. will post 1.23 EPS for the current year.

Wolverine World Wide Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Wednesday, October 1st will be issued a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.6%. Wolverine World Wide’s dividend payout ratio (DPR) is presently 39.22%.

Insider Transactions at Wolverine World Wide

In related news, Director Nicholas T. Long sold 12,854 shares of the stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $31.84, for a total value of $409,271.36. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction of $413,127.56. Following the completion of the transaction, the director directly owned 48,675 shares of the company’s stock, valued at approximately $1,564,414.50. The trade was 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 company insiders.

About Wolverine World Wide

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.