Empowered Funds LLC Purchases Shares of 152,181 Caleres, Inc. $CAL

Key Points

• Empowered Funds LLC acquired 152,181 shares of Caleres in the second quarter, valued at approximately $1.88 million and representing a 0.45% stake. Institutional investors collectively own 98.44% of the company.
• Caleres reported quarterly EPS of $0.38, slightly above estimates, while revenue rose 8.5% year over year to $666.6 million. The company also declared a quarterly dividend of $0.07 per share, yielding approximately 2.3% annually.
• Analyst sentiment remains cautious: recent firms downgraded or maintained Caleres at Hold or Sell ratings, resulting in a consensus “Reduce” rating. Shares opened at $12.11, well below the one-year high of $16.14.

Empowered Funds LLC purchased a new stake in Caleres, Inc. (NYSE:CAL - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 152,181 shares of the textile maker's stock, valued at approximately $1,882,000. Empowered Funds LLC owned 0.45% of Caleres at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Osaic Holdings Inc. lifted its stake in shares of Caleres by 1,662.8% in the second quarter. Osaic Holdings Inc. now owns 1,992 shares of the textile maker's stock worth $25,000 after acquiring an additional 1,879 shares during the period. Global Retirement Partners LLC acquired a new stake in Caleres during the 4th quarter valued at approximately $25,000. Quadrant Capital Group LLC increased its position in Caleres by 1,032.4% during the 4th quarter. Quadrant Capital Group LLC now owns 2,412 shares of the textile maker's stock valued at $29,000 after purchasing an additional 2,199 shares during the period. Northwestern Mutual Wealth Management Co. bought a new position in Caleres during the 2nd quarter worth approximately $37,000. Finally, Legal & General Group Plc bought a new position in Caleres during the 2nd quarter worth approximately $43,000. 98.44% of the stock is currently owned by institutional investors.

Caleres Price Performance

NYSE CAL opened at $12.11 on Friday. The stock has a market capitalization of $406.77 million, a P/E ratio of -1,209.79 and a beta of 0.75. The business has a 50 day simple moving average of $12.73 and a 200 day simple moving average of $12.43. Caleres, Inc. has a one year low of $8.80 and a one year high of $16.14.

Caleres (NYSE:CAL - Get Free Report) last posted its quarterly earnings results on Thursday, June 4th. The textile maker reported $0.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.37 by $0.01. The firm had revenue of $666.60 million for the quarter, compared to analysts' expectations of $662.63 million. Caleres had a return on equity of 7.33% and a net margin of 0.02%.The company's revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.22 EPS. Equities analysts expect that Caleres, Inc. will post 1.62 earnings per share for the current year.

Caleres Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Friday, September 11th. Caleres's payout ratio is presently -2,800.00%.

Analysts Set New Price Targets

A number of research firms have recently commented on CAL. Wall Street Zen lowered shares of Caleres from a "buy" rating to a "hold" rating in a research note on Saturday, August 29th. KeyCorp reissued a "sector weight" rating on shares of Caleres in a research note on Friday, June 5th. Weiss Ratings restated a "sell (d+)" rating on shares of Caleres in a report on Friday, July 31st. Finally, Zacks Research cut shares of Caleres from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 1st. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Reduce".

About Caleres

Caleres, Inc, formerly known as Brown Shoe Company, is a leading footwear company engaged in the design, sourcing, marketing and selling of a broad portfolio of branded and private-label shoes. The company's operations span a range of market segments from value-priced to premium and luxury. Caleres operates through two primary segments: a retail segment anchored by the Famous Footwear banner, which includes more than 1,100 stores across North America, and a brand portfolio segment comprising owned and licensed brands such as Allen Edmonds, Naturalizer, Sam Edelman, Dr.

Want to see what other hedge funds are holding CAL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Caleres, Inc. (NYSE:CAL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source