JPMorgan Chase & Co. Sells 74,586 Shares of Caleres, Inc. (NYSE:CAL)

JPMorgan Chase & Co. lessened its stake in Caleres, Inc. (NYSE:CAL) by 17.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 344,136 shares of the textile maker’s stock after selling 74,586 shares during the period. JPMorgan Chase & Co. owned approximately 1.02% of Caleres worth $7,970,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Royce & Associates LP boosted its holdings in shares of Caleres by 27.3% in the fourth quarter. Royce & Associates LP now owns 804,378 shares of the textile maker’s stock worth $18,629,000 after buying an additional 172,568 shares during the last quarter. Empowered Funds LLC raised its position in Caleres by 314.6% in the fourth quarter. Empowered Funds LLC now owns 156,312 shares of the textile maker’s stock worth $3,620,000 after acquiring an additional 118,611 shares during the period. American Century Companies Inc. boosted its stake in shares of Caleres by 10.1% during the 4th quarter. American Century Companies Inc. now owns 1,148,219 shares of the textile maker’s stock worth $26,593,000 after acquiring an additional 105,392 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Caleres by 3.2% during the 3rd quarter. Principal Financial Group Inc. now owns 1,835,057 shares of the textile maker’s stock worth $60,648,000 after acquiring an additional 56,346 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Caleres by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 3,223,343 shares of the textile maker’s stock worth $74,653,000 after purchasing an additional 50,041 shares in the last quarter. 98.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Loop Capital lowered their target price on Caleres from $17.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday, April 4th.

Caleres Trading Down 4.1 %

Caleres stock opened at $14.45 on Thursday. Caleres, Inc. has a 12-month low of $14.28 and a 12-month high of $44.51. The firm has a market capitalization of $485.69 million, a price-to-earnings ratio of 3.22 and a beta of 1.42. The firm has a 50 day moving average of $16.53 and a 200 day moving average of $23.08.

Caleres (NYSE:CAL) last announced its quarterly earnings data on Thursday, March 20th. The textile maker reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.06. Caleres had a net margin of 5.69% and a return on equity of 22.71%. The firm had revenue of $639.20 million during the quarter, compared to analysts’ expectations of $645.79 million. During the same period in the prior year, the company posted $0.86 earnings per share. The company’s revenue for the quarter was down 8.3% compared to the same quarter last year. On average, analysts predict that Caleres, Inc. will post 3.23 EPS for the current year.

Caleres Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Thursday, March 27th were given a $0.07 dividend. The ex-dividend date was Thursday, March 27th. This represents a $0.28 annualized dividend and a dividend yield of 1.94%. Caleres’s payout ratio is 9.12%.

Insider Transactions at Caleres

In related news, Director Kyle Gendreau bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The stock was purchased at an average price of $19.93 per share, for a total transaction of $99,650.00. Following the completion of the transaction, the director now owns 5,000 shares in the company, valued at $99,650. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Lori Greeley purchased 9,000 shares of Caleres stock in a transaction on Thursday, March 27th. The stock was bought at an average price of $17.77 per share, for a total transaction of $159,930.00. Following the completion of the acquisition, the director now owns 10,000 shares in the company, valued at $177,700. The trade was a 900.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 3.80% of the company’s stock.

Caleres Company Profile

Caleres, Inc engages in the retail and wholesale of footwear business in the United States, Canada, East 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. The company provides brand name athletic, casual, and dress shoes, including Nike, Skechers, adidas, Vans, Crocs, Converse, Puma, Birkenstock, New Balance, Under Armour, Dr.