Public Employees Retirement Association of Colorado Cuts Position in Caleres, Inc. (CAL)
Public Employees Retirement Association of Colorado decreased its stake in shares of Caleres, Inc. (NYSE:CAL) by 6.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,607 shares of the textile maker’s stock after selling 567 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Caleres were worth $227,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of CAL. Norges Bank acquired a new stake in shares of Caleres during the fourth quarter valued at about $26,762,000. Bogle Investment Management L P DE purchased a new stake in Caleres during the fourth quarter worth about $6,368,000. Dimensional Fund Advisors LP increased its stake in Caleres by 4.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,027,013 shares of the textile maker’s stock worth $99,348,000 after buying an additional 128,993 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in Caleres during the fourth quarter worth about $4,170,000. Finally, Renaissance Technologies LLC increased its stake in Caleres by 153.2% in the fourth quarter. Renaissance Technologies LLC now owns 164,600 shares of the textile maker’s stock worth $5,402,000 after buying an additional 99,600 shares during the last quarter. 85.30% of the stock is currently owned by institutional investors.
Shares of Caleres, Inc. (CAL) opened at 26.68 on Friday. The firm has a 50-day moving average price of $26.97 and a 200-day moving average price of $29.55. The company has a market cap of $1.15 billion, a P/E ratio of 18.29 and a beta of 1.11. Caleres, Inc. has a 1-year low of $22.40 and a 1-year high of $36.61.
Caleres (NYSE:CAL) last released its earnings results on Thursday, May 25th. The textile maker reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.03. The business had revenue of $631.50 million for the quarter, compared to the consensus estimate of $621.31 million. Caleres had a return on equity of 13.80% and a net margin of 2.39%. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.41 earnings per share. On average, equities analysts expect that Caleres, Inc. will post $2.18 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Monday, June 19th will be given a $0.07 dividend. The ex-dividend date of this dividend is Thursday, June 15th. This represents a $0.28 annualized dividend and a dividend yield of 1.05%. Caleres’s dividend payout ratio (DPR) is presently 19.18%.
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A number of analysts have issued reports on CAL shares. TheStreet downgraded Caleres from a “b” rating to a “c+” rating in a research note on Friday, April 7th. Zacks Investment Research downgraded Caleres from a “hold” rating to a “sell” rating in a research note on Thursday, May 25th. Susquehanna Bancshares Inc reaffirmed a “neutral” rating and issued a $31.00 price objective on shares of Caleres in a research note on Monday, March 20th. Morgan Stanley raised Caleres from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $33.00 to $37.00 in a research note on Friday, March 3rd. They noted that the move was a valuation call. Finally, Wedbush started coverage on Caleres in a research note on Tuesday, April 11th. They issued an “outperform” rating and a $32.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. Caleres presently has an average rating of “Hold” and an average target price of $32.20.
In related news, insider Daniel R. Freidman sold 2,000 shares of the stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $26.43, for a total value of $52,860.00. Following the completion of the sale, the insider now owns 85,043 shares of the company’s stock, valued at $2,247,686.49. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Richard M. Ausick sold 13,030 shares of the stock in a transaction that occurred on Tuesday, March 28th. The shares were sold at an average price of $26.82, for a total value of $349,464.60. Following the completion of the sale, the insider now directly owns 90,834 shares of the company’s stock, valued at approximately $2,436,167.88. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,583 shares of company stock worth $547,702. Company insiders own 3.20% of the company’s stock.
Caleres Company Profile
Caleres, Inc is a global footwear retailer and wholesaler. The Company is engaged in the operation of retail shoe stores and e-commerce Websites, as well as the design, sourcing and marketing of footwear for women and men. The Company operates through two segments: Famous Footwear and Brand Portfolio.
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