Wellington Management Group LLP Makes New Investment in Caleres, Inc. $CAL

Key Points

• Wellington Management Group LLP recently invested approximately $6.64 million in Caleres, Inc., acquiring about 385,510 shares, which represents around 1.15% ownership.
• Several hedge funds have significantly adjusted their positions in Caleres, with Millennium Management increasing its stake by over 1,000% and Tidal Investments also entering a new position.
• Caleres reported disappointing quarterly earnings, missing EPS estimates and citing a revenue decrease of 6.8% year-over-year, resulting in a Hold rating and a revised price target of $14.00 from analysts.

Wellington Management Group LLP purchased a new position in Caleres, Inc. (NYSE:CAL - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 385,510 shares of the textile maker's stock, valued at approximately $6,642,000. Wellington Management Group LLP owned about 1.15% of Caleres as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Versant Capital Management Inc increased its position 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 purchasing an additional 1,032 shares during the last quarter. Golden State Wealth Management LLC increased its position 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 worth $88,000 after purchasing an additional 2,548 shares during the last quarter. PNC Financial Services Group Inc. increased its position 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 acquiring an additional 1,359 shares during the last quarter. GAMMA Investing LLC increased its position in Caleres by 1,201.7% during the first quarter. GAMMA Investing LLC now owns 5,988 shares of the textile maker's stock valued at $103,000 after acquiring an additional 5,528 shares during the last quarter. Finally, US Bancorp DE increased its position in Caleres by 21.6% during the first quarter. US Bancorp DE now owns 8,775 shares of the textile maker's stock valued at $151,000 after acquiring an additional 1,561 shares during the last quarter. Institutional investors own 98.44% of the company's stock.

Caleres Trading Down 2.5%

Shares of NYSE CAL traded down $0.39 during mid-day trading on Friday, reaching $14.98. The company had a trading volume of 848,054 shares, compared to its average volume of 633,093. The business's 50-day moving average is $14.17 and its 200-day moving average is $15.19. The stock has a market cap of $506.46 million, a price-to-earnings ratio of 6.24 and a beta of 1.07. Caleres, Inc. has a 52 week low of $12.09 and a 52 week high of $43.34.

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

Caleres Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 1.9%. Caleres's dividend payout ratio is presently 11.67%.

Analysts Set New Price Targets

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

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.