Public Sector Pension Investment Board Raises Position in Caleres, Inc. $CAL

Key Points

• The Public Sector Pension Investment Board has increased its stake in Caleres, Inc. by 21.2%, acquiring a total of 106,633 shares valued at approximately $1.84 million.
• Caleres reported quarterly earnings with EPS of $0.22, missing the consensus estimate and showing a revenue decline of 6.8% year-over-year.
• Analysts have a consensus Hold rating for Caleres, with a reduced target price set at $14.00.

Public Sector Pension Investment Board boosted its holdings in shares of Caleres, Inc. (NYSE:CAL - Free Report) by 21.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 106,633 shares of the textile maker's stock after purchasing an additional 18,642 shares during the period. Public Sector Pension Investment Board owned about 0.32% of Caleres worth $1,837,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Caleres by 3.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,448 shares of the textile maker's stock worth $450,000 after acquiring an additional 643 shares in the last quarter. SummerHaven Investment Management LLC grew its holdings in Caleres by 3.3% during the 1st quarter. SummerHaven Investment Management LLC now owns 24,569 shares of the textile maker's stock valued at $423,000 after buying an additional 785 shares in the last quarter. Versant Capital Management Inc boosted its stake in Caleres by 244.0% in the first quarter. Versant Capital Management Inc now owns 1,455 shares of the textile maker's stock worth $25,000 after buying an additional 1,032 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in Caleres by 6.0% in the fourth quarter. MetLife Investment Management LLC now owns 20,870 shares of the textile maker's stock worth $483,000 after buying an additional 1,177 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake 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 valued at $93,000 after buying an additional 1,359 shares during the last quarter. Institutional investors own 98.44% of the company's stock.

Wall Street Analyst Weigh In

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

Caleres Price Performance

NYSE CAL traded down $0.2150 during midday trading on Monday, hitting $15.2950. 186,709 shares of the company traded hands, compared to its average volume of 895,532. Caleres, Inc. has a 52 week low of $12.09 and a 52 week high of $44.33. The company's 50-day simple moving average is $13.96 and its 200-day simple moving average is $15.26. The company has a market cap of $516.97 million, a PE ratio of 6.36 and a beta of 1.14.

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

About Caleres

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.