Daytona Street Capital LLC Invests $1.14 Million in Caleres, Inc. $CAL

Daytona Street Capital LLC acquired a new position in Caleres, Inc. (NYSE:CAL) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 93,733 shares of the textile maker’s stock, valued at approximately $1,141,000. Daytona Street Capital LLC owned 0.28% of Caleres as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CAL. Osaic Holdings Inc. raised its stake in shares of Caleres by 1,662.8% in the second quarter. Osaic Holdings Inc. now owns 1,992 shares of the textile maker’s stock worth $25,000 after buying an additional 1,879 shares during the period. CWM LLC raised its stake in shares of Caleres by 624.9% in the third quarter. CWM LLC now owns 3,639 shares of the textile maker’s stock worth $47,000 after buying an additional 3,137 shares during the period. State of Wyoming bought a new position in shares of Caleres in the third quarter worth about $56,000. New York State Common Retirement Fund raised its stake in shares of Caleres by 171.8% in the third quarter. New York State Common Retirement Fund now owns 6,487 shares of the textile maker’s stock worth $85,000 after buying an additional 4,100 shares during the period. Finally, Arizona State Retirement System bought a new position in shares of Caleres in the third quarter worth about $130,000. Institutional investors own 98.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CAL. Weiss Ratings reiterated a “sell (d+)” rating on shares of Caleres in a research report on Wednesday, January 21st. Zacks Research upgraded Caleres from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 26th. Finally, Seaport Research Partners increased their target price on Caleres from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, March 19th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $14.00.

Caleres Trading Up 3.6%

NYSE:CAL opened at $11.13 on Tuesday. Caleres, Inc. has a 12-month low of $8.80 and a 12-month high of $18.27. The stock has a 50-day moving average price of $11.39 and a 200 day moving average price of $12.19. The stock has a market capitalization of $377.31 million, a P/E ratio of -50.59 and a beta of 0.58.

Caleres (NYSE:CAL) last released its earnings results on Thursday, March 19th. The textile maker reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.04. Caleres had a positive return on equity of 6.49% and a negative net margin of 0.24%.The firm had revenue of $695.06 million during the quarter, compared to analysts’ expectations of $688.43 million. During the same quarter last year, the business posted $0.33 earnings per share. The firm’s revenue was up 8.7% on a year-over-year basis. On average, research analysts predict that Caleres, Inc. will post 3.23 earnings per share for the current fiscal year.

Caleres Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Thursday, March 26th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 2.5%. The ex-dividend date is Thursday, March 26th. Caleres’s dividend payout ratio (DPR) is currently -127.27%.

About Caleres

Caleres, Inc, formerly known as Brown Shoe Company, is a leading footwear company engaged in the design, sourcing, marketing and selling of a broad portfolio of branded and private-label shoes. The company’s operations span a range of market segments from value-priced to premium and luxury. Caleres operates through two primary segments: a retail segment anchored by the Famous Footwear banner, which includes more than 1,100 stores across North America, and a brand portfolio segment comprising owned and licensed brands such as Allen Edmonds, Naturalizer, Sam Edelman, Dr.