American Century Companies Inc. Acquires 68,779 Shares of Caleres, Inc. $CAL

Key Points

• American Century Companies Inc. increased its stake in Caleres, Inc. by 6.0%, now holding 1,216,998 shares valued at approximately $20.97 million.
• Recent reports indicate that Caleres' stock price target was lowered from $16.00 to $14.00, and the stock currently has a Hold rating.
• Caleres reported a net margin decrease to 3.11% and a significant revenue decline of 6.8% year-over-year, with earnings per share at $0.22, missing expectations.

American Century Companies Inc. increased its position in Caleres, Inc. (NYSE:CAL - Free Report) by 6.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,216,998 shares of the textile maker's stock after buying an additional 68,779 shares during the period. American Century Companies Inc. owned 3.62% of Caleres worth $20,969,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CAL. Wells Fargo & Company MN grew its holdings in Caleres by 35.3% during the fourth quarter. Wells Fargo & Company MN now owns 21,820 shares of the textile maker's stock valued at $505,000 after purchasing an additional 5,695 shares during the last quarter. Barclays PLC lifted its holdings in shares of Caleres by 7.0% during the fourth quarter. Barclays PLC now owns 59,661 shares of the textile maker's stock valued at $1,382,000 after acquiring an additional 3,885 shares during the period. Mariner LLC lifted its holdings in shares of Caleres by 68.5% during the fourth quarter. Mariner LLC now owns 23,298 shares of the textile maker's stock valued at $540,000 after acquiring an additional 9,471 shares during the period. Canada Pension Plan Investment Board bought a new position in shares of Caleres during the fourth quarter valued at $86,000. Finally, First Trust Advisors LP increased its stake in shares of Caleres by 25.9% in the fourth quarter. First Trust Advisors LP now owns 129,147 shares of the textile maker's stock valued at $2,991,000 after buying an additional 26,551 shares in the last quarter. Institutional investors and hedge funds own 98.44% of the company's stock.

Caleres Price Performance

Shares of Caleres stock traded down $0.12 during trading on Thursday, hitting $15.38. 370,169 shares of the company were exchanged, compared to its average volume of 894,342. The firm has a market capitalization of $519.98 million, a P/E ratio of 6.38 and a beta of 1.14. Caleres, Inc. has a 1-year low of $12.09 and a 1-year high of $43.34. The firm's fifty day moving average price is $14.07 and its 200 day moving average price is $15.25.

Caleres (NYSE:CAL - Get Free Report) last posted its earnings results on Thursday, May 29th. The textile maker reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.15). The company had revenue of $614.22 million for the quarter, compared to analyst estimates of $622.93 million. Caleres had a return on equity of 14.94% and a net margin of 3.11%.Caleres's quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.88 earnings per share. As a group, equities research analysts anticipate that Caleres, Inc. will post 3.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Loop Capital lowered their target price on Caleres from $16.00 to $14.00 and set a "hold" rating for the company in a research note on Friday, May 30th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Caleres has an average rating of "Hold" and an average target price of $14.00.

Caleres Company Profile

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.