Callodine Capital Management LP Has $42.22 Million Stock Position in Wolverine World Wide, Inc. (NYSE:WWW)

Callodine Capital Management LP cut its stake in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 17.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,901,616 shares of the textile maker’s stock after selling 410,884 shares during the quarter. Wolverine World Wide makes up approximately 8.7% of Callodine Capital Management LP’s holdings, making the stock its 2nd biggest holding. Callodine Capital Management LP owned about 2.37% of Wolverine World Wide worth $42,216,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Pacer Advisors Inc. bought a new stake in Wolverine World Wide during the 4th quarter valued at $64,943,000. JPMorgan Chase & Co. lifted its stake in Wolverine World Wide by 1,263.0% in the third quarter. JPMorgan Chase & Co. now owns 1,426,942 shares of the textile maker’s stock worth $24,857,000 after acquiring an additional 1,322,254 shares during the period. FMR LLC grew its holdings in Wolverine World Wide by 2.2% during the 4th quarter. FMR LLC now owns 11,766,527 shares of the textile maker’s stock worth $261,217,000 after acquiring an additional 249,456 shares in the last quarter. Barclays PLC increased its position in Wolverine World Wide by 767.1% during the 3rd quarter. Barclays PLC now owns 250,830 shares of the textile maker’s stock valued at $4,368,000 after purchasing an additional 221,904 shares during the period. Finally, Hillsdale Investment Management Inc. bought a new stake in shares of Wolverine World Wide in the 4th quarter valued at about $4,317,000. Institutional investors own 90.25% of the company’s stock.

Analysts Set New Price Targets

WWW has been the subject of a number of recent research reports. UBS Group reduced their price objective on shares of Wolverine World Wide from $29.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. StockNews.com downgraded Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. Piper Sandler reduced their target price on shares of Wolverine World Wide from $27.00 to $18.00 and set an “overweight” rating for the company in a report on Friday, April 11th. Robert W. Baird lowered their price target on shares of Wolverine World Wide from $21.00 to $18.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $23.00 target price on shares of Wolverine World Wide in a research report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Wolverine World Wide presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.25.

Wolverine World Wide Stock Up 2.5 %

Shares of WWW stock opened at $10.80 on Friday. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.77 and a current ratio of 1.29. Wolverine World Wide, Inc. has a fifty-two week low of $9.36 and a fifty-two week high of $24.64. The firm has a market capitalization of $875.42 million, a PE ratio of 19.64 and a beta of 1.74. The stock’s 50-day simple moving average is $14.00 and its 200-day simple moving average is $18.51.

Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings results on Wednesday, February 19th. The textile maker reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. The company had revenue of $494.70 million for the quarter, compared to the consensus estimate of $485.74 million. Wolverine World Wide had a net margin of 2.73% and a return on equity of 26.81%. Wolverine World Wide’s quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.30) EPS. Equities analysts expect that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current year.

Wolverine World Wide Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 3.70%. The ex-dividend date is Tuesday, April 1st. Wolverine World Wide’s dividend payout ratio is currently 72.73%.

Wolverine World Wide 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.