Royce & Associates LP Raises Stake in Caleres, Inc. (NYSE:CAL)

Key Points

• Royce & Associates LP increased its stake in Caleres, Inc. by 4.9%, totaling approximately 843,445 shares worth $14.53 million as of the end of the first quarter.
• Caleres recently announced a quarterly dividend of $0.07 per share, with a 1.82% dividend yield and a payout ratio of 11.67%.
• Analysts at Loop Capital reduced their price target for Caleres from $16.00 to $14.00 and maintained a "hold" rating for the stock.

Royce & Associates LP boosted its holdings in shares of Caleres, Inc. (NYSE:CAL - Free Report) by 4.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 843,445 shares of the textile maker's stock after purchasing an additional 39,067 shares during the period. Royce & Associates LP owned approximately 2.51% of Caleres worth $14,533,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Caleres by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 3,223,343 shares of the textile maker's stock worth $74,653,000 after purchasing an additional 50,041 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Caleres by 8.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,049,895 shares of the textile maker's stock worth $47,475,000 after purchasing an additional 167,326 shares during the last quarter. American Century Companies Inc. grew its position in Caleres by 10.1% during the 4th quarter. American Century Companies Inc. now owns 1,148,219 shares of the textile maker's stock worth $26,593,000 after purchasing an additional 105,392 shares during the last quarter. Nokomis Capital L.L.C. purchased a new position in Caleres during the 4th quarter worth $18,336,000. Finally, Invesco Ltd. grew its position in Caleres by 48.6% during the 4th quarter. Invesco Ltd. now owns 770,518 shares of the textile maker's stock worth $17,845,000 after purchasing an additional 252,140 shares during the last quarter. 98.44% of the stock is owned by hedge funds and other institutional investors.

Caleres Trading Up 2.2%

Shares of NYSE:CAL traded up $0.34 during midday trading on Monday, hitting $15.74. The stock had a trading volume of 145,113 shares, compared to its average volume of 938,552. The company has a market capitalization of $531.84 million, a PE ratio of 6.56 and a beta of 1.03. The stock has a 50 day moving average price of $14.06 and a two-hundred day moving average price of $15.95. Caleres, Inc. has a 1 year low of $12.09 and a 1 year high of $44.51.

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

Caleres Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Thursday, June 5th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date was Thursday, June 5th. Caleres's payout ratio is currently 11.67%.

Wall Street Analyst Weigh In

Separately, Loop Capital lowered their price objective on shares of Caleres from $16.00 to $14.00 and set a "hold" rating on the stock in a research report on Friday, May 30th.

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.