Northwestern Mutual Wealth Management Co. boosted its stake in Caleres Inc (NYSE:CAL) by 127.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,192 shares of the textile maker’s stock after purchasing an additional 6,837 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Caleres were worth $419,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of CAL. Franklin Resources Inc. grew its holdings in Caleres by 61.4% in the first quarter. Franklin Resources Inc. now owns 2,200,691 shares of the textile maker’s stock worth $73,943,000 after purchasing an additional 836,772 shares during the period. BlackRock Inc. grew its holdings in Caleres by 8.3% in the second quarter. BlackRock Inc. now owns 5,880,651 shares of the textile maker’s stock worth $202,236,000 after purchasing an additional 451,535 shares during the period. Segall Bryant & Hamill LLC acquired a new stake in Caleres in the second quarter worth $12,885,000. Millennium Management LLC grew its holdings in Caleres by 526.1% in the first quarter. Millennium Management LLC now owns 406,327 shares of the textile maker’s stock worth $13,653,000 after purchasing an additional 341,428 shares during the period. Finally, Schroder Investment Management Group grew its holdings in Caleres by 42.4% in the first quarter. Schroder Investment Management Group now owns 465,118 shares of the textile maker’s stock worth $15,628,000 after purchasing an additional 138,496 shares during the period. Institutional investors and hedge funds own 90.24% of the company’s stock.
A number of equities research analysts have commented on the stock. Macquarie raised their price target on shares of Caleres from $38.00 to $42.00 and gave the stock an “outperform” rating in a report on Wednesday. Loop Capital set a $37.00 price target on shares of Caleres and gave the stock a “hold” rating in a report on Tuesday. Zacks Investment Research upgraded shares of Caleres from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a report on Friday, August 31st. Wedbush raised their price target on shares of Caleres from $38.00 to $42.00 and gave the stock an “outperform” rating in a report on Wednesday, August 29th. Finally, ValuEngine upgraded shares of Caleres from a “hold” rating to a “buy” rating in a report on Wednesday, August 8th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $39.50.
In other news, CEO Diane M. Sullivan sold 20,000 shares of Caleres stock in a transaction dated Tuesday, August 28th. The shares were sold at an average price of $38.28, for a total transaction of $765,600.00. Following the completion of the transaction, the chief executive officer now directly owns 473,534 shares in the company, valued at $18,126,881.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Douglas Koch sold 10,000 shares of Caleres stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $38.00, for a total transaction of $380,000.00. Following the transaction, the insider now owns 97,501 shares of the company’s stock, valued at $3,705,038. The disclosure for this sale can be found here. 5.60% of the stock is owned by company insiders.
Shares of NYSE CAL opened at $35.90 on Friday. The stock has a market cap of $1.57 billion, a PE ratio of 15.83 and a beta of 0.89. Caleres Inc has a 1 year low of $26.54 and a 1 year high of $41.09. The company has a quick ratio of 0.65, a current ratio of 1.73 and a debt-to-equity ratio of 0.27.
Caleres (NYSE:CAL) last issued its quarterly earnings data on Tuesday, September 4th. The textile maker reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). The business had revenue of $706.61 million for the quarter, compared to analyst estimates of $709.15 million. Caleres had a net margin of 3.39% and a return on equity of 13.94%. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.48 earnings per share. research analysts anticipate that Caleres Inc will post 2.5 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Monday, September 17th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date is Friday, September 14th. Caleres’s dividend payout ratio is currently 12.96%.
Caleres Company Profile
Caleres, Inc engages in the retail and wholesale of footwear in the United States, Canada, Guam, and Italy. It operates through Famous Footwear and Brand Portfolio segments. The company offers licensed, branded, and private-label casual, dress, and athletic footwear products to women, men, and children.
Further Reading: Book Value Per Share – BVPS
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