Charles Schwab Investment Management Inc. Purchases 135,159 Shares of Caleres, Inc. $CAL

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Caleres, Inc. by 24.3% during the first quarter, owning a total of 691,801 shares valued at approximately $11.9 million.
• Multiple institutional investors have also significantly increased their holdings in Caleres, with 98.44% of the company's stock now held by institutional investors.
• Caleres reported a decline in earnings, with a net margin of only 3.11% and a missed earnings per share estimate of $0.22 for the last quarter.

Charles Schwab Investment Management Inc. raised its stake in Caleres, Inc. (NYSE:CAL - Free Report) by 24.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 691,801 shares of the textile maker's stock after buying an additional 135,159 shares during the period. Charles Schwab Investment Management Inc. owned approximately 2.06% of Caleres worth $11,920,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its holdings in shares of Caleres by 8.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,049,895 shares of the textile maker's stock valued at $47,475,000 after buying an additional 167,326 shares in the last quarter. Royce & Associates LP raised its stake in Caleres by 4.9% during the 1st quarter. Royce & Associates LP now owns 843,445 shares of the textile maker's stock valued at $14,533,000 after purchasing an additional 39,067 shares during the period. Nokomis Capital L.L.C. acquired a new stake in Caleres during the 4th quarter valued at $18,336,000. Northern Trust Corp raised its stake in Caleres by 7.5% during the 4th quarter. Northern Trust Corp now owns 402,370 shares of the textile maker's stock valued at $9,319,000 after purchasing an additional 28,009 shares during the period. Finally, Voloridge Investment Management LLC acquired a new stake in Caleres during the 4th quarter valued at $8,259,000. Institutional investors own 98.44% of the company's stock.

Analysts Set New Price Targets

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

Caleres Price Performance

NYSE:CAL traded down $0.03 during trading hours on Friday, reaching $15.34. The company's stock had a trading volume of 100,184 shares, compared to its average volume of 894,076. The company has a market cap of $518.49 million, a price-to-earnings ratio of 6.39 and a beta of 1.14. Caleres, Inc. has a one year low of $12.09 and a one year high of $43.34. The business's 50-day moving average is $14.12 and its 200-day moving average is $15.24.

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

Caleres Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.8%. Caleres's dividend payout ratio (DPR) is presently 11.67%.

Caleres 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.