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

Callodine Capital Management LP boosted its stake in Wolverine World Wide, Inc. (NYSE:WWW) by 27.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,505,165 shares of the textile maker’s stock after acquiring an additional 980,839 shares during the period. Wolverine World Wide comprises approximately 5.1% of Callodine Capital Management LP’s portfolio, making the stock its 3rd largest position. Callodine Capital Management LP owned approximately 5.50% of Wolverine World Wide worth $73,524,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Wolverine World Wide by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 8,988,758 shares of the textile maker’s stock worth $163,146,000 after purchasing an additional 353,808 shares during the last quarter. State Street Corp lifted its holdings in shares of Wolverine World Wide by 2.1% in the 4th quarter. State Street Corp now owns 3,100,339 shares of the textile maker’s stock valued at $56,271,000 after purchasing an additional 63,041 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Wolverine World Wide by 3.0% in the 4th quarter. JPMorgan Chase & Co. now owns 2,006,578 shares of the textile maker’s stock valued at $36,419,000 after purchasing an additional 59,304 shares during the period. Geode Capital Management LLC boosted its position in shares of Wolverine World Wide by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 1,889,235 shares of the textile maker’s stock valued at $34,296,000 after purchasing an additional 10,423 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in Wolverine World Wide by 21.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,797,577 shares of the textile maker’s stock worth $29,333,000 after buying an additional 313,883 shares during the last quarter. Institutional investors and hedge funds own 90.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on WWW shares. Zacks Research raised Wolverine World Wide from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 6th. 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 lowered 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. Wall Street Zen upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Finally, Robert W. Baird cut their target price on shares of Wolverine World Wide from $27.00 to $24.00 and set an “outperform” rating on the stock in a report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Wolverine World Wide currently has an average rating of “Moderate Buy” and a consensus price target of $21.75.

Wolverine World Wide Price Performance

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

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

Wolverine World Wide Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.1%. Wolverine World Wide’s payout ratio is presently 32.26%.

Insider Activity

In other news, Director Brenda J. Lauderback sold 5,500 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $15.88, for a total transaction of $87,340.00. Following the completion of the sale, the director owned 54,202 shares in the company, valued at $860,727.76. This represents a 9.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.50% of the company’s stock.

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.