Connor Clark & Lunn Investment Management Ltd. Sells 17,732 Shares of Caleres, Inc. $CAL

Connor Clark & Lunn Investment Management Ltd. lowered its stake in shares of Caleres, Inc. (NYSE:CAL) by 11.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 136,235 shares of the textile maker’s stock after selling 17,732 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.40% of Caleres worth $1,665,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Parallel Advisors LLC grew its holdings in shares of Caleres by 1,485.5% during the 2nd quarter. Parallel Advisors LLC now owns 4,059 shares of the textile maker’s stock worth $50,000 after purchasing an additional 3,803 shares in the last quarter. GAMMA Investing LLC lifted its position in Caleres by 15.3% during the second quarter. GAMMA Investing LLC now owns 6,903 shares of the textile maker’s stock worth $84,000 after purchasing an additional 915 shares during the period. PNC Financial Services Group Inc. grew its stake in Caleres by 33.4% during the first quarter. PNC Financial Services Group Inc. now owns 5,424 shares of the textile maker’s stock worth $93,000 after buying an additional 1,359 shares in the last quarter. Kapitalo Investimentos Ltda bought a new position in Caleres in the 2nd quarter valued at about $124,000. Finally, US Bancorp DE raised its position in shares of Caleres by 21.6% in the 1st quarter. US Bancorp DE now owns 8,775 shares of the textile maker’s stock valued at $151,000 after buying an additional 1,561 shares in the last quarter. 98.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on CAL shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Caleres in a research report on Wednesday, October 8th. Zacks Research raised Caleres from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $14.00.

Caleres Stock Performance

Shares of CAL opened at $10.27 on Monday. The stock has a market capitalization of $347.40 million, a price-to-earnings ratio of 5.87 and a beta of 1.08. Caleres, Inc. has a 52 week low of $10.15 and a 52 week high of $33.24. The stock has a fifty day moving average of $13.00 and a 200-day moving average of $13.99.

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

Caleres Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Friday, September 12th. Caleres’s payout ratio is presently 16.00%.

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.