Bank of America Corp DE Sells 1,074 Shares of Caleres, Inc. (NYSE:CAL)

Bank of America Corp DE decreased its stake in Caleres, Inc. (NYSE:CAL) by 1.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 102,687 shares of the textile maker’s stock after selling 1,074 shares during the period. Bank of America Corp DE owned 0.31% of Caleres worth $2,378,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC increased its stake in shares of Caleres by 254.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,733 shares of the textile maker’s stock valued at $40,000 after buying an additional 1,244 shares during the period. Golden State Wealth Management LLC acquired a new stake in Caleres during the fourth quarter worth approximately $59,000. Lee Danner & Bass Inc. acquired a new stake in Caleres during the fourth quarter worth approximately $81,000. Canada Pension Plan Investment Board acquired a new stake in Caleres during the fourth quarter worth approximately $86,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in Caleres in the fourth quarter valued at approximately $149,000. Institutional investors and hedge funds own 98.44% of the company’s stock.

Analyst Ratings Changes

Separately, Loop Capital reduced their price objective on Caleres from $16.00 to $14.00 and set a “hold” rating for the company in a research note on Friday.

Caleres Stock Down 2.0%

CAL stock opened at $13.18 on Tuesday. Caleres, Inc. has a twelve month low of $13.00 and a twelve month high of $44.51. The stock’s 50 day moving average is $15.94 and its 200-day moving average is $19.41. The firm has a market capitalization of $442.84 million, a PE ratio of 2.93 and a beta of 1.11.

Caleres (NYSE:CAL) last posted its earnings results on Thursday, May 29th. The textile maker reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.15). Caleres had a net margin of 5.69% and a return on equity of 22.71%. The company had revenue of $614.22 million during the quarter, compared to the consensus estimate of $622.93 million. During the same quarter in the prior year, the business earned $0.88 EPS. The firm’s revenue for the quarter was down 6.8% compared to the same quarter last year. On average, equities research analysts anticipate that Caleres, Inc. will post 3.23 earnings per share for the current fiscal year.

Caleres Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Thursday, June 5th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $0.28 dividend on an annualized basis and a yield of 2.13%. Caleres’s dividend payout ratio (DPR) is currently 11.67%.

Insider Buying and Selling

In other news, Director Lori Greeley bought 9,000 shares of the stock in a transaction on Thursday, March 27th. The shares were purchased at an average cost of $17.77 per share, for a total transaction of $159,930.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at $177,700. This represents a 900.00% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 4.10% of the stock is currently owned by corporate insiders.

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.