Vanguard Group Inc. Trims Holdings in Caleres, Inc. $CAL

Key Points

• Vanguard Group Inc. has reduced its stake in Caleres, Inc. by 22.6%, selling 729,726 shares during the first quarter, bringing its total ownership to approximately 2.49 million shares valued at $42.96 million.
• Caleres has seen mixed responses from other hedge funds, with Dimensional Fund Advisors LP increasing its stake by 8.9%, while overall, 98.44% of the stock is owned by institutional investors.
• Following a recent earnings report, Caleres reported a net loss against analysts' expectations, with revenue down 6.8% year-over-year, prompting Loop Capital to lower its target price from $16 to $14.

Vanguard Group Inc. cut its stake in shares of Caleres, Inc. (NYSE:CAL - Free Report) by 22.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,493,617 shares of the textile maker's stock after selling 729,726 shares during the period. Vanguard Group Inc. owned about 7.42% of Caleres worth $42,965,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Nokomis Capital L.L.C. purchased a new position in Caleres in the 4th quarter worth approximately $18,336,000. Voloridge Investment Management LLC purchased a new position in Caleres in the fourth quarter worth about $8,259,000. Bridgeway Capital Management LLC raised its holdings in Caleres by 579.9% during the 4th quarter. Bridgeway Capital Management LLC now owns 256,312 shares of the textile maker's stock valued at $5,936,000 after buying an additional 218,611 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Caleres by 8.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,049,895 shares of the textile maker's stock worth $47,475,000 after acquiring an additional 167,326 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its position in shares of Caleres by 1,022.6% during the fourth quarter. Janus Henderson Group PLC now owns 183,368 shares of the textile maker's stock valued at $4,247,000 after buying an additional 167,034 shares during the period. Hedge funds and other institutional investors own 98.44% of the company's stock.

Analyst Upgrades and Downgrades

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

Caleres Stock Down 2.5%

Shares of NYSE:CAL traded down $0.39 during trading on Friday, reaching $14.98. 848,054 shares of the company's stock traded hands, compared to its average volume of 898,682. Caleres, Inc. has a fifty-two week low of $12.09 and a fifty-two week high of $43.34. The firm has a market cap of $506.46 million, a PE ratio of 6.24 and a beta of 1.14. The company has a 50-day simple moving average of $14.12 and a 200-day simple moving average of $15.24.

Caleres (NYSE:CAL - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The textile maker reported $0.22 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.15). The company had revenue of $614.22 million during the quarter, compared to analysts' expectations of $622.93 million. Caleres had a return on equity of 14.94% and a net margin of 3.11%.Caleres'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 EPS. On average, equities research analysts forecast that Caleres, Inc. will post 3.23 EPS for the current year.

Caleres Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, September 12th. Caleres's payout ratio is presently 11.67%.

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.