Pacific Ridge Capital Partners LLC Purchases 29,900 Shares of Caleres, Inc. (NYSE:CAL)

Key Points

• Pacific Ridge Capital Partners LLC increased its stake in Caleres, Inc. by 148.2% in the first quarter, now owning approximately 50,076 shares worth $863,000.
• Caleres reported a $0.22 EPS for the quarter, missing analysts’ estimates of $0.37 and showing a 6.8% decline in revenue compared to the previous year.
• The company declared a quarterly dividend of $0.07 per share, translating to an annualized yield of 2.1% with a payout ratio of 11.67%.

Pacific Ridge Capital Partners LLC boosted its stake in shares of Caleres, Inc. (NYSE:CAL - Free Report) by 148.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,076 shares of the textile maker's stock after purchasing an additional 29,900 shares during the quarter. Pacific Ridge Capital Partners LLC owned about 0.15% of Caleres worth $863,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CAL. Versant Capital Management Inc raised its stake in shares of Caleres by 244.0% in the first quarter. Versant Capital Management Inc now owns 1,455 shares of the textile maker's stock valued at $25,000 after purchasing an additional 1,032 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in Caleres in the fourth quarter valued at about $86,000. Golden State Wealth Management LLC boosted its holdings in Caleres by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 5,097 shares of the textile maker's stock valued at $88,000 after acquiring an additional 2,548 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Caleres by 33.4% during the first quarter. PNC Financial Services Group Inc. now owns 5,424 shares of the textile maker's stock worth $93,000 after buying an additional 1,359 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Caleres by 1,201.7% during the first quarter. GAMMA Investing LLC now owns 5,988 shares of the textile maker's stock worth $103,000 after purchasing an additional 5,528 shares during the period. 98.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Caleres Trading Down 1.3%

Shares of NYSE:CAL traded down $0.18 during trading on Tuesday, hitting $13.69. 223,619 shares of the company were exchanged, compared to its average volume of 928,052. Caleres, Inc. has a fifty-two week low of $12.09 and a fifty-two week high of $44.51. The firm has a fifty day moving average price of $13.79 and a two-hundred day moving average price of $15.70. The stock has a market cap of $462.68 million, a price-to-earnings ratio of 5.70 and a beta of 1.14.

Caleres (NYSE:CAL - Get Free Report) last posted its earnings results on Thursday, May 29th. The textile maker reported $0.22 earnings per share for the quarter, missing analysts' consensus estimates of $0.37 by ($0.15). The business 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%. The firm's revenue was down 6.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.88 earnings per share. As a group, research analysts predict that Caleres, Inc. will post 3.23 EPS for the current year.

Caleres Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Thursday, June 5th were paid a $0.07 dividend. The ex-dividend date was Thursday, June 5th. This represents a $0.28 annualized dividend and a yield of 2.0%. Caleres's payout ratio is 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.