Caleres, Inc. $CAL Shares Acquired by Paradigm Capital Management Inc. NY

Key Points

• Paradigm Capital Management Inc. NY has increased its holdings in Caleres, Inc. by 2.8%, owning 738,500 shares valued at approximately $12.72 million.
• Caleres reported an earnings miss, with earnings per share of $0.22 compared to the expected $0.37 and revenues down by 6.8% year-over-year.
• The company announced a quarterly dividend of $0.07, resulting in an annualized yield of 1.9%, with a payout ratio currently at 11.67%.

Paradigm Capital Management Inc. NY grew its stake in Caleres, Inc. (NYSE:CAL - Free Report) by 2.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 738,500 shares of the textile maker's stock after purchasing an additional 20,000 shares during the quarter. Paradigm Capital Management Inc. NY owned approximately 2.20% of Caleres worth $12,724,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vident Advisory LLC boosted its position in Caleres by 72.2% during the first quarter. Vident Advisory LLC now owns 27,404 shares of the textile maker's stock worth $472,000 after acquiring an additional 11,486 shares during the last quarter. Landscape Capital Management L.L.C. boosted its position in Caleres by 933.8% during the first quarter. Landscape Capital Management L.L.C. now owns 140,938 shares of the textile maker's stock worth $2,428,000 after acquiring an additional 127,305 shares during the last quarter. Rafferty Asset Management LLC boosted its position in Caleres by 10.1% during the first quarter. Rafferty Asset Management LLC now owns 17,529 shares of the textile maker's stock worth $302,000 after acquiring an additional 1,609 shares during the last quarter. AlphaQuest LLC raised its stake in Caleres by 24.5% during the first quarter. AlphaQuest LLC now owns 11,178 shares of the textile maker's stock worth $193,000 after purchasing an additional 2,202 shares during the period. Finally, Quantbot Technologies LP purchased a new position in Caleres during the first quarter worth about $219,000. 98.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Zacks Research downgraded shares of Caleres from a "hold" rating to a "strong sell" rating in a research note on Friday, August 29th. Loop Capital reduced 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 and one has given a Sell rating to the stock. According to data from MarketBeat.com, Caleres currently has a consensus rating of "Reduce" and an average price target of $14.00.

Caleres Price Performance

Shares of CAL stock traded up $0.17 during trading on Wednesday, reaching $14.97. The company's stock had a trading volume of 1,055,349 shares, compared to its average volume of 603,465. The company has a market capitalization of $505.82 million, a price-to-earnings ratio of 6.24 and a beta of 1.08. The stock's 50-day moving average price is $14.31 and its 200 day moving average price is $15.17. Caleres, Inc. has a 1-year low of $12.09 and a 1-year high of $40.71.

Caleres Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be issued a $0.07 dividend. The ex-dividend date is Friday, September 12th. This represents a $0.28 annualized dividend and a dividend yield of 1.9%. Caleres's dividend payout ratio 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.