Invesco Ltd. Grows Position in Caleres, Inc. (NYSE:CAL)

Invesco Ltd. boosted its stake in shares of Caleres, Inc. (NYSE:CAL) by 48.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 770,518 shares of the textile maker’s stock after purchasing an additional 252,140 shares during the period. Invesco Ltd. owned approximately 2.29% of Caleres worth $17,845,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Barclays PLC increased its position in Caleres by 108.8% during the 3rd quarter. Barclays PLC now owns 55,776 shares of the textile maker’s stock worth $1,843,000 after purchasing an additional 29,057 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Caleres by 3.6% during the 3rd quarter. Geode Capital Management LLC now owns 792,057 shares of the textile maker’s stock valued at $26,183,000 after acquiring an additional 27,291 shares in the last quarter. Franklin Resources Inc. boosted its position in Caleres by 1.7% during the 3rd quarter. Franklin Resources Inc. now owns 27,905 shares of the textile maker’s stock worth $908,000 after purchasing an additional 479 shares during the period. Principal Financial Group Inc. raised its position in Caleres by 3.2% in the third quarter. Principal Financial Group Inc. now owns 1,835,057 shares of the textile maker’s stock valued at $60,648,000 after purchasing an additional 56,346 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of Caleres by 42.2% during the third quarter. JPMorgan Chase & Co. now owns 418,722 shares of the textile maker’s stock worth $13,839,000 after purchasing an additional 124,266 shares in the last quarter. Institutional investors and hedge funds own 98.44% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Loop Capital reduced their price target 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 Price Performance

Caleres stock opened at $15.27 on Monday. The firm’s fifty day moving average price is $16.45 and its 200 day moving average price is $22.72. The company has a market capitalization of $513.39 million, a price-to-earnings ratio of 3.40 and a beta of 1.42. Caleres, Inc. has a 12-month low of $14.25 and a 12-month high of $44.51.

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

Caleres Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Thursday, March 27th were paid a $0.07 dividend. The ex-dividend date of this dividend was Thursday, March 27th. This represents a $0.28 dividend on an annualized basis and a yield of 1.83%. Caleres’s payout ratio is currently 9.12%.

Insider Activity

In other news, Director Lori Greeley acquired 9,000 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The shares were acquired at an average price of $17.77 per share, with a total value of $159,930.00. Following the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $177,700. The trade was a 900.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.