Cooper Creek Partners Management LLC Acquires Shares of 577,567 Wolverine World Wide, Inc. $WWW

Cooper Creek Partners Management LLC bought a new position in Wolverine World Wide, Inc. (NYSE:WWW) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 577,567 shares of the textile maker’s stock, valued at approximately $10,442,000. Cooper Creek Partners Management LLC owned about 0.71% of Wolverine World Wide as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Intech Investment Management LLC grew its stake in Wolverine World Wide by 234.3% in the 1st quarter. Intech Investment Management LLC now owns 237,841 shares of the textile maker’s stock valued at $3,308,000 after purchasing an additional 166,692 shares during the period. Jump Financial LLC purchased a new position in shares of Wolverine World Wide in the 1st quarter worth about $1,367,000. Northern Trust Corp grew its position in Wolverine World Wide by 1.1% during the first quarter. Northern Trust Corp now owns 1,017,233 shares of the textile maker’s stock valued at $14,150,000 after buying an additional 11,398 shares during the period. Callodine Capital Management LP increased its holdings in Wolverine World Wide by 60.2% during the first quarter. Callodine Capital Management LP now owns 3,047,071 shares of the textile maker’s stock worth $42,385,000 after buying an additional 1,145,455 shares during the last quarter. Finally, Invesco Ltd. raised its position in Wolverine World Wide by 36.1% in the first quarter. Invesco Ltd. now owns 951,235 shares of the textile maker’s stock worth $13,232,000 after acquiring an additional 252,331 shares during the period. 90.25% of the stock is owned by hedge funds and other institutional investors.

Wolverine World Wide Trading Up 0.7%

Shares of Wolverine World Wide stock opened at $17.38 on Friday. The company’s 50-day moving average price is $21.12 and its 200-day moving average price is $22.69. The company has a current ratio of 1.34, a quick ratio of 0.79 and a debt-to-equity ratio of 1.40. Wolverine World Wide, Inc. has a 12-month low of $9.58 and a 12-month high of $32.80. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 16.72 and a beta of 1.94.

Wolverine World Wide (NYSE:WWW) last posted its earnings results on Wednesday, November 5th. The textile maker reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. Wolverine World Wide had a net margin of 4.73% and a return on equity of 31.43%. The business had revenue of $470.30 million for the quarter, compared to analyst estimates of $461.46 million. During the same quarter in the prior year, the firm posted $0.28 EPS. Wolverine World Wide’s revenue was up 6.8% on a year-over-year basis. Wolverine World Wide has set its FY 2025 guidance at 1.290-1.340 EPS. On average, equities analysts expect 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 disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Friday, January 2nd will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $0.40 annualized dividend and a yield of 2.3%. Wolverine World Wide’s dividend payout ratio (DPR) is currently 38.46%.

Insiders Place Their Bets

In other Wolverine World Wide news, Director Jack Boyle purchased 6,250 shares of the company’s stock in a transaction dated Friday, November 7th. The stock was purchased at an average price of $15.77 per share, for a total transaction of $98,562.50. Following the transaction, the director owned 6,250 shares in the company, valued at $98,562.50. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Demonty Price acquired 25,000 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was bought at an average price of $15.77 per share, for a total transaction of $394,250.00. Following the completion of the transaction, the director owned 75,000 shares of the company’s stock, valued at $1,182,750. The trade was a 50.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 33,250 shares of company stock valued at $524,573 in the last ninety days. Corporate insiders own 2.28% of the company’s stock.

Wall Street Analysts Forecast Growth

WWW has been the subject of a number of research reports. Wall Street Zen downgraded shares of Wolverine World Wide from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Zacks Research lowered Wolverine World Wide from a “strong-buy” rating to a “hold” rating in a report on Monday, October 27th. Telsey Advisory Group restated a “market perform” rating and issued a $18.00 target price (down from $29.00) on shares of Wolverine World Wide in a research note on Wednesday, November 5th. Stifel Nicolaus set a $25.00 price target on Wolverine World Wide in a research report on Thursday, November 6th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Wolverine World Wide in a research note on Monday, December 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.29.

Wolverine World Wide Company 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.