Panagora Asset Management Inc. Acquires 651 Shares of Caleres, Inc. (NYSE:CAL)

Posted by Defense World Staff on Jun 10th, 2023

Panagora Asset Management Inc. raised its holdings in shares of Caleres, Inc. (NYSE:CAL – Get Rating) by 0.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 199,372 shares of the textile maker’s stock after acquiring an additional 651 shares during the quarter. Panagora Asset Management Inc. owned approximately 0.56% of Caleres worth $4,442,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in CAL. Assetmark Inc. increased its stake in shares of Caleres by 25.8% in the 4th quarter. Assetmark Inc. now owns 2,747 shares of the textile maker’s stock valued at $61,000 after purchasing an additional 564 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in Caleres by 1.8% in the third quarter. Thrivent Financial for Lutherans now owns 37,977 shares of the textile maker’s stock valued at $920,000 after buying an additional 673 shares in the last quarter. Towle & Co boosted its stake in Caleres by 2.9% in the third quarter. Towle & Co now owns 26,660 shares of the textile maker’s stock valued at $646,000 after buying an additional 740 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Caleres by 2.3% in the second quarter. JPMorgan Chase & Co. now owns 34,937 shares of the textile maker’s stock valued at $917,000 after buying an additional 773 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in Caleres by 1.0% in the first quarter. Bank of America Corp DE now owns 82,094 shares of the textile maker’s stock valued at $1,586,000 after buying an additional 829 shares in the last quarter. 87.46% of the stock is owned by institutional investors.

Caleres Stock Performance

Shares of CAL opened at $23.83 on Friday. Caleres, Inc. has a 52-week low of $16.85 and a 52-week high of $31.13. The business’s 50 day moving average price is $21.71 and its two-hundred day moving average price is $22.89. The firm has a market cap of $864.31 million, a PE ratio of 5.23 and a beta of 1.77.

Caleres (NYSE:CAL – Get Rating) last issued its earnings results on Thursday, June 1st. The textile maker reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. Caleres had a return on equity of 36.28% and a net margin of 5.73%. The company had revenue of $662.70 million for the quarter, compared to analyst estimates of $699.99 million. During the same period in the prior year, the firm earned $1.32 earnings per share. Caleres’s revenue for the quarter was down 9.8% on a year-over-year basis. Research analysts predict that Caleres, Inc. will post 4.11 EPS for the current fiscal year.

Caleres Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 28th. Shareholders of record on Friday, June 9th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Thursday, June 8th. This represents a $0.28 dividend on an annualized basis and a yield of 1.17%. Caleres’s dividend payout ratio (DPR) is presently 6.14%.

Wall Street Analysts Forecast Growth

CAL has been the topic of several research analyst reports. StockNews.com lowered Caleres from a “buy” rating to a “hold” rating in a research note on Friday, May 26th. TheStreet raised Caleres from a “c+” rating to a “b” rating in a research note on Thursday, June 1st. Finally, Piper Sandler lowered Caleres from an “overweight” rating to a “neutral” rating and cut their price target for the company from $35.00 to $25.00 in a research note on Thursday, May 25th.

About Caleres

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Caleres, Inc engages in the provision of athletic, casual, and dress footwear products. It operates through the Famous Footwear and Brand Portfolio segments. The Famous Footwear segment provides branded footwear for the entire family. The Brand Portfolio segment sources, manufactures, and markets branded, licensed, and private-labeled footwear primarily to online retailers, national chains, department stores, mass merchandisers, and independent retailers.

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