Penn Capital Management Company LLC Purchases New Holdings in Wolverine World Wide, Inc. $WWW

Penn Capital Management Company LLC purchased a new position in Wolverine World Wide, Inc. (NYSE:WWW) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 111,330 shares of the textile maker’s stock, valued at approximately $2,128,000.

Other hedge funds also recently modified their holdings of the company. Commonwealth Equity Services LLC lifted its stake in Wolverine World Wide by 6.6% in the third quarter. Commonwealth Equity Services LLC now owns 11,972 shares of the textile maker’s stock valued at $229,000 after purchasing an additional 746 shares during the last quarter. GAMMA Investing LLC increased its position in Wolverine World Wide by 16.3% in the second quarter. GAMMA Investing LLC now owns 9,505 shares of the textile maker’s stock worth $157,000 after buying an additional 1,333 shares during the last quarter. Swiss National Bank raised its stake in shares of Wolverine World Wide by 1.1% in the first quarter. Swiss National Bank now owns 162,100 shares of the textile maker’s stock valued at $2,645,000 after buying an additional 1,800 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of Wolverine World Wide by 5.7% in the third quarter. Nisa Investment Advisors LLC now owns 34,471 shares of the textile maker’s stock valued at $659,000 after buying an additional 1,853 shares during the period. Finally, Sterling Capital Management LLC raised its stake in shares of Wolverine World Wide by 345.4% in the third quarter. Sterling Capital Management LLC now owns 2,539 shares of the textile maker’s stock valued at $49,000 after buying an additional 1,969 shares during the period. Institutional investors own 90.25% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Wall Street Zen upgraded Wolverine World Wide from a “hold” rating to a “buy” rating in a research note on Sunday, October 4th. KeyCorp restated an “overweight” rating and issued a $25.00 price objective on shares of Wolverine World Wide in a research note on Thursday, August 13th. Zacks Research downgraded shares of Wolverine World Wide from a “strong-buy” rating to a “hold” rating in a report on Friday, October 30th. Needham & Company LLC upped their price objective on shares of Wolverine World Wide from $21.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Wolverine World Wide in a research report on Tuesday, September 8th. Five equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $23.11.

Wolverine World Wide Price Performance

Wolverine World Wide stock opened at $21.97 on Tuesday. The firm has a market capitalization of $1.80 billion, a P/E ratio of 17.03, a PEG ratio of 1.60 and a beta of 1.67. Wolverine World Wide, Inc. has a one year low of $14.00 and a one year high of $23.84. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.55 and a quick ratio of 0.98. The business has a fifty day moving average price of $19.84 and a 200-day moving average price of $18.19.

Wolverine World Wide (NYSE:WWW) last released its quarterly earnings data on Thursday, August 13th. The textile maker reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. Wolverine World Wide had a return on equity of 28.50% and a net margin of 5.55%. The company had revenue of $506.40 million for the quarter, compared to analyst estimates of $500.74 million. During the same period in the previous year, the company posted $0.32 EPS. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. Wolverine World Wide has set its FY 2026 guidance at 1.550-1.650 EPS. As a group, equities research analysts forecast that Wolverine World Wide, Inc. will post 1.64 EPS for the current year.

Wolverine World Wide Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 1st. Shareholders of record on Monday, January 4th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Monday, January 4th. Wolverine World Wide’s payout ratio is presently 31.01%.

About Wolverine World Wide

Wolverine World Wide, Inc is a footwear and apparel company that designs, markets and distributes products through a portfolio of consumer and workwear brands. Its brands include Merrell, Saucony, Sweaty Betty, Wolverine, Chaco and Bates, with offerings that span outdoor, athletic, casual and occupational footwear, as well as apparel and accessories.

Founded in 1883 in Rockford, Michigan, the company has expanded from its early roots in leather and footwear manufacturing into an international brand business.