673,011 Shares in Caleres, Inc. $CAL Bought by Invenomic Capital Management LP

Key Points

• Invenomic Capital Management LP bought 673,011 shares of Caleres, Inc., valued at approximately $11.6 million, making up 2.00% of the company's stock by the end of the last reporting period.
• Caleres reported an earnings per share (EPS) of $0.35 for the latest quarter, missing the consensus estimate of $0.51, with quarterly revenue down 3.6% year-over-year.
• The company will distribute a quarterly dividend of $0.07 per share on September 26th, representing an annualized yield of 2.0% and a payout ratio of 11.67%.

Invenomic Capital Management LP purchased a new position in shares of Caleres, Inc. (NYSE:CAL - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 673,011 shares of the textile maker's stock, valued at approximately $11,596,000. Invenomic Capital Management LP owned 2.00% of Caleres at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Caleres by 3.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,448 shares of the textile maker's stock worth $450,000 after purchasing an additional 643 shares during the period. SummerHaven Investment Management LLC increased its position in shares of Caleres by 3.3% in the first quarter. SummerHaven Investment Management LLC now owns 24,569 shares of the textile maker's stock valued at $423,000 after buying an additional 785 shares in the last quarter. Versant Capital Management Inc increased its position in Caleres by 244.0% during the 1st quarter. Versant Capital Management Inc now owns 1,455 shares of the textile maker's stock worth $25,000 after purchasing an additional 1,032 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Caleres by 33.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,424 shares of the textile maker's stock worth $93,000 after purchasing an additional 1,359 shares in the last quarter. Finally, US Bancorp DE increased its position in Caleres by 21.6% during the 1st quarter. US Bancorp DE now owns 8,775 shares of the textile maker's stock worth $151,000 after purchasing an additional 1,561 shares in the last quarter. 98.44% of the stock is owned by institutional investors and hedge funds.

Caleres Price Performance

NYSE CAL opened at $14.25 on Friday. The business has a fifty day moving average price of $14.35 and a two-hundred day moving average price of $15.15. The stock has a market capitalization of $481.48 million, a PE ratio of 5.94 and a beta of 1.08. Caleres, Inc. has a fifty-two week low of $12.09 and a fifty-two week high of $40.71.

Caleres (NYSE:CAL - Get Free Report) last issued its earnings results on Thursday, September 4th. The textile maker reported $0.35 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.16). The firm had revenue of $658.52 million during the quarter, compared to analyst estimates of $656.93 million. Caleres had a net margin of 3.11% and a return on equity of 14.94%. The business's quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.98 earnings per share. As a group, sell-side analysts expect that Caleres, Inc. will post 3.23 earnings per share for the current year.

Caleres Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, September 12th. Caleres's dividend payout ratio (DPR) is 11.67%.

Analysts Set New Price Targets

CAL has been the topic of several research analyst reports. Loop Capital reduced their price objective on Caleres from $16.00 to $14.00 and set a "hold" rating on the stock in a research note on Friday, May 30th. Zacks Research lowered Caleres from a "hold" rating to a "strong sell" rating in a research report on Friday, August 29th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus target price of $14.00.

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.

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