Cornercap Investment Counsel Inc. Trims Stake in Caleres, Inc. (NYSE:CAL)

Cornercap Investment Counsel Inc. cut its stake in Caleres, Inc. (NYSE:CAL) by 52.7% during the third quarter, HoldingsChannel reports. The fund owned 15,891 shares of the textile maker’s stock after selling 17,725 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Caleres were worth $525,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Caleres by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 3,160,116 shares of the textile maker’s stock valued at $129,660,000 after acquiring an additional 26,214 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Caleres by 3.2% in the 3rd quarter. Principal Financial Group Inc. now owns 1,835,057 shares of the textile maker’s stock valued at $60,648,000 after acquiring an additional 56,346 shares during the period. American Century Companies Inc. increased its holdings in shares of Caleres by 25.6% in the 2nd quarter. American Century Companies Inc. now owns 901,852 shares of the textile maker’s stock valued at $30,302,000 after acquiring an additional 183,594 shares during the period. Millennium Management LLC boosted its position in shares of Caleres by 58.8% in the 2nd quarter. Millennium Management LLC now owns 221,082 shares of the textile maker’s stock worth $7,428,000 after purchasing an additional 81,836 shares in the last quarter. Finally, Great Lakes Advisors LLC boosted its position in shares of Caleres by 69.6% in the 2nd quarter. Great Lakes Advisors LLC now owns 193,841 shares of the textile maker’s stock worth $6,513,000 after purchasing an additional 79,581 shares in the last quarter. 98.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CAL has been the subject of a number of recent analyst reports. Loop Capital lowered their price objective on Caleres from $45.00 to $30.00 and set a “hold” rating for the company in a research report on Friday, September 13th. StockNews.com cut Caleres from a “buy” rating to a “hold” rating in a research report on Thursday, October 3rd.

Caleres Stock Performance

Shares of CAL opened at $30.54 on Friday. The stock has a 50-day moving average of $31.89 and a two-hundred day moving average of $34.90. Caleres, Inc. has a one year low of $25.96 and a one year high of $44.51. The stock has a market cap of $1.08 billion, a P/E ratio of 6.61 and a beta of 1.93.

Caleres (NYSE:CAL) last issued its quarterly earnings results on Thursday, September 12th. The textile maker reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.37). Caleres had a return on equity of 24.63% and a net margin of 5.84%. The firm had revenue of $683.30 million for the quarter, compared to analyst estimates of $723.80 million. During the same period in the prior year, the firm posted $0.98 EPS. The business’s revenue was down 1.8% compared to the same quarter last year. Analysts predict that Caleres, Inc. will post 4.04 EPS for the current fiscal year.

Caleres Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a $0.07 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.28 annualized dividend and a dividend yield of 0.92%. Caleres’s dividend payout ratio (DPR) is presently 6.06%.

About Caleres

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.