Connor Clark & Lunn Investment Management Ltd. Buys 122,935 Shares of Caleres, Inc. $CAL

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Caleres, Inc. by 396.2% in Q1, holding 153,967 shares worth approximately $2.65 million.
• Caleres's stock recently traded at $14.66, reflecting a 0.5% increase, with a market cap of $495.51 million and a PE ratio of 6.11.
• The company announced a quarterly dividend of $0.07 per share, representing an annual yield of 1.9%, with a payout ratio of 11.67%.

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Caleres, Inc. (NYSE:CAL - Free Report) by 396.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 153,967 shares of the textile maker's stock after purchasing an additional 122,935 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.46% of Caleres worth $2,653,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its stake in shares of Caleres by 24.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 691,801 shares of the textile maker's stock worth $11,920,000 after purchasing an additional 135,159 shares during the period. Pacific Ridge Capital Partners LLC raised its stake in shares of Caleres by 148.2% during the 1st quarter. Pacific Ridge Capital Partners LLC now owns 50,076 shares of the textile maker's stock worth $863,000 after purchasing an additional 29,900 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of 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 during the period. US Bancorp DE raised its stake in shares of 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 during the period. Finally, Royce & Associates LP raised its stake in shares of Caleres by 4.9% during the 1st quarter. Royce & Associates LP now owns 843,445 shares of the textile maker's stock worth $14,533,000 after purchasing an additional 39,067 shares during the period. 98.44% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Caleres Stock Up 1.2%

Caleres stock traded up $0.1760 during midday trading on Tuesday, reaching $14.8460. The stock had a trading volume of 77,336 shares, compared to its average volume of 904,494. Caleres, Inc. has a 12 month low of $12.09 and a 12 month high of $44.51. The firm's 50-day moving average price is $13.83 and its 200 day moving average price is $15.33. The firm has a market capitalization of $501.79 million, a PE ratio of 6.18 and a beta of 1.14.

Caleres (NYSE:CAL - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $622.93 million. During the same quarter in the prior year, the firm posted $0.88 earnings per share. The company's revenue was down 6.8% on a year-over-year basis. Equities research analysts expect that Caleres, Inc. will post 3.23 EPS for the current year.

Caleres Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Thursday, June 5th were given a dividend of $0.07 per share. The ex-dividend date was Thursday, June 5th. This represents a $0.28 annualized dividend and a dividend yield of 1.9%. Caleres's dividend payout ratio is currently 11.67%.

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.