Panagora Asset Management Inc. lessened its holdings in Caleres, Inc. (NYSE:CAL – Free Report) by 77.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 45,617 shares of the textile maker’s stock after selling 153,755 shares during the quarter. Panagora Asset Management Inc.’s holdings in Caleres were worth $987,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently modified their holdings of CAL. Acadian Asset Management LLC purchased a new stake in shares of Caleres during the first quarter valued at approximately $32,000. Envestnet Asset Management Inc. boosted its position in Caleres by 685.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 212,576 shares of the textile maker’s stock valued at $440,000 after acquiring an additional 185,507 shares in the last quarter. Rhumbline Advisers boosted its position in Caleres by 2.4% during the 1st quarter. Rhumbline Advisers now owns 112,215 shares of the textile maker’s stock valued at $2,427,000 after acquiring an additional 2,625 shares in the last quarter. Cambria Investment Management L.P. grew its stake in Caleres by 10.8% in the first quarter. Cambria Investment Management L.P. now owns 277,504 shares of the textile maker’s stock worth $6,002,000 after purchasing an additional 27,100 shares during the period. Finally, Principal Financial Group Inc. grew its stake in Caleres by 6.5% in the first quarter. Principal Financial Group Inc. now owns 2,697,562 shares of the textile maker’s stock worth $58,348,000 after purchasing an additional 164,661 shares during the period. Institutional investors own 88.44% of the company’s stock.
Insider Activity at Caleres
In related news, insider Daniel R. Freidman sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $28.00, for a total transaction of $140,000.00. Following the completion of the sale, the insider now owns 76,311 shares of the company’s stock, valued at $2,136,708. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Caleres news, insider Daniel R. Freidman sold 5,000 shares of the company’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $28.00, for a total transaction of $140,000.00. Following the transaction, the insider now owns 76,311 shares in the company, valued at approximately $2,136,708. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Todd E. Hasty sold 5,800 shares of the company’s stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $25.00, for a total transaction of $145,000.00. Following the transaction, the chief accounting officer now owns 31,513 shares in the company, valued at approximately $787,825. The disclosure for this sale can be found here. Insiders sold 31,150 shares of company stock valued at $828,336 over the last 90 days. Corporate insiders own 5.40% of the company’s stock.
Caleres Price Performance
Caleres (NYSE:CAL – Get Free Report) last announced its quarterly earnings data on Thursday, August 31st. The textile maker reported $0.98 EPS for the quarter, beating the consensus estimate of $0.88 by $0.10. Caleres had a net margin of 5.23% and a return on equity of 30.93%. The company had revenue of $695.50 million for the quarter, compared to the consensus estimate of $704.85 million. During the same period in the prior year, the firm posted $1.38 EPS. Caleres’s revenue for the quarter was down 5.8% on a year-over-year basis. On average, sell-side analysts anticipate that Caleres, Inc. will post 4.13 earnings per share for the current fiscal year.
Caleres Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend is Thursday, September 7th. Caleres’s dividend payout ratio (DPR) is currently 6.78%.
Analysts Set New Price Targets
CAL has been the topic of several recent research reports. TheStreet raised Caleres from a “c+” rating to a “b” rating in a research note on Thursday, June 1st. StockNews.com raised shares of Caleres from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, Piper Sandler lowered shares of Caleres from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $35.00 to $25.00 in a report on Thursday, May 25th.
Caleres, Inc engages in the retail and wholesale of footwear business in the United States, Canada, Eastern Asia, and internationally. It operates through Famous Footwear and Brand Portfolio segments. The company offers licensed, branded, and private-label athletic, casual, and dress footwear products.
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