Bayforest Capital Ltd Takes Position in Wolverine World Wide, Inc. $WWW

Bayforest Capital Ltd purchased a new stake in Wolverine World Wide, Inc. (NYSE:WWW) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 20,842 shares of the textile maker’s stock, valued at approximately $290,000.

A number of other large investors have also recently modified their holdings of the company. PNC Financial Services Group Inc. boosted its holdings in shares of Wolverine World Wide by 10.4% in the first quarter. PNC Financial Services Group Inc. now owns 9,132 shares of the textile maker’s stock valued at $127,000 after purchasing an additional 863 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Wolverine World Wide by 3.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,159 shares of the textile maker’s stock valued at $1,003,000 after purchasing an additional 1,495 shares during the period. Captrust Financial Advisors boosted its holdings in shares of Wolverine World Wide by 6.6% in the fourth quarter. Captrust Financial Advisors now owns 26,834 shares of the textile maker’s stock valued at $596,000 after purchasing an additional 1,667 shares during the period. Rhumbline Advisers boosted its holdings in shares of Wolverine World Wide by 0.8% in the first quarter. Rhumbline Advisers now owns 226,441 shares of the textile maker’s stock valued at $3,150,000 after purchasing an additional 1,852 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Wolverine World Wide in the fourth quarter valued at approximately $64,000. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Wolverine World Wide Stock Down 2.0%

Wolverine World Wide stock opened at $30.88 on Thursday. The business has a fifty day moving average of $25.75 and a two-hundred day moving average of $18.66. The firm has a market cap of $2.51 billion, a P/E ratio of 30.28 and a beta of 1.80. The company has a quick ratio of 0.75, a current ratio of 1.24 and a debt-to-equity ratio of 1.58. Wolverine World Wide, Inc. has a twelve month low of $9.58 and a twelve month high of $32.80.

Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings results on Wednesday, August 6th. The textile maker reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.12. The business had revenue of $474.20 million for the quarter, compared to the consensus estimate of $447.82 million. Wolverine World Wide had a return on equity of 31.99% and a net margin of 4.73%.The business’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.15 earnings per share. On average, analysts forecast that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current fiscal year.

Wolverine World Wide Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Wednesday, October 1st will be given a dividend of $0.10 per share. 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 1.3%. Wolverine World Wide’s dividend payout ratio is presently 39.22%.

Insiders Place Their Bets

In other news, Director Brenda J. Lauderback sold 12,854 shares of the company’s stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $32.14, for a total transaction of $413,127.56. Following the transaction, the director directly owned 48,675 shares of the company’s stock, valued at approximately $1,564,414.50. This represents a 20.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Nicholas T. Long sold 12,854 shares of the company’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $31.84, for a total value of $409,271.36. Following the transaction, the director directly owned 76,268 shares in the company, valued at approximately $2,428,373.12. The trade was a 14.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.28% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Stifel Nicolaus 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 Wednesday, August 27th. Wall Street Zen upgraded Wolverine World Wide from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Piper Sandler restated an “overweight” rating and set a $25.00 target price (up previously from $20.00) on shares of Wolverine World Wide in a report on Tuesday, August 5th. Telsey Advisory Group restated a “market perform” rating and set a $29.00 target price (up previously from $17.00) on shares of Wolverine World Wide in a report on Wednesday, August 6th. Finally, KeyCorp restated an “overweight” rating and set a $32.00 target price (up previously from $25.00) on shares of Wolverine World Wide in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Wolverine World Wide currently has a consensus rating of “Buy” and an average target price of $27.50.

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.