Corebridge Financial Inc. Sells 1,139 Shares of Caleres, Inc. $CAL

Corebridge Financial Inc. reduced its stake in Caleres, Inc. (NYSE:CAL) by 6.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,092 shares of the textile maker’s stock after selling 1,139 shares during the period. Corebridge Financial Inc. owned approximately 0.05% of Caleres worth $294,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. AlphaQuest LLC lifted its stake in Caleres by 24.5% during the first quarter. AlphaQuest LLC now owns 11,178 shares of the textile maker’s stock worth $193,000 after purchasing an additional 2,202 shares during the last quarter. Quantbot Technologies LP bought a new stake in Caleres during the first quarter worth $219,000. Wellington Management Group LLP bought a new stake in Caleres during the first quarter worth $6,642,000. American Century Companies Inc. lifted its stake in Caleres by 6.0% during the first quarter. American Century Companies Inc. now owns 1,216,998 shares of the textile maker’s stock worth $20,969,000 after purchasing an additional 68,779 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its stake in Caleres by 21.2% during the first quarter. Public Sector Pension Investment Board now owns 106,633 shares of the textile maker’s stock worth $1,837,000 after purchasing an additional 18,642 shares during the last quarter. 98.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CAL shares. Loop Capital cut their target price on Caleres from $16.00 to $14.00 and set a “hold” rating for the company in a research note on Friday, May 30th. Zacks Research cut Caleres from a “hold” rating to a “strong sell” rating in a research note on Friday, August 29th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Caleres presently has an average rating of “Reduce” and a consensus target price of $14.00.

Caleres Stock Up 10.4%

NYSE CAL opened at $15.72 on Monday. The company has a market capitalization of $531.17 million, a price-to-earnings ratio of 8.98 and a beta of 1.07. Caleres, Inc. has a twelve month low of $12.09 and a twelve month high of $39.76. The stock has a fifty day simple moving average of $14.41 and a 200 day simple moving average of $15.12.

Caleres (NYSE:CAL) last posted its quarterly earnings data on Thursday, September 4th. The textile maker reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.16). The company had revenue of $658.52 million during the quarter, compared to analyst estimates of $656.93 million. Caleres had a net margin of 2.26% and a return on equity of 11.91%. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.98 earnings per share. Research analysts expect that Caleres, Inc. will post 3.23 earnings per share for the current fiscal year.

Caleres Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, September 12th. Caleres’s dividend payout ratio is presently 16.00%.

Caleres 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.