Wellington Management Group LLP Sells 221,070 Shares of Caleres, Inc. (NYSE:CAL)

Wellington Management Group LLP cut its stake in shares of Caleres, Inc. (NYSE:CAL) by 45.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 263,730 shares of the textile maker’s stock after selling 221,070 shares during the period. Wellington Management Group LLP owned about 0.74% of Caleres worth $8,104,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Qube Research & Technologies Ltd acquired a new position in Caleres in the 3rd quarter worth about $1,752,000. Pacer Advisors Inc. increased its stake in shares of Caleres by 87.1% in the fourth quarter. Pacer Advisors Inc. now owns 1,433,509 shares of the textile maker’s stock valued at $44,052,000 after buying an additional 667,195 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Caleres by 76.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,086 shares of the textile maker’s stock valued at $279,000 after buying an additional 3,925 shares during the last quarter. Cornercap Investment Counsel Inc. acquired a new stake in Caleres during the 4th quarter worth approximately $1,032,000. Finally, American Century Companies Inc. grew its holdings in Caleres by 55.6% during the 3rd quarter. American Century Companies Inc. now owns 382,557 shares of the textile maker’s stock worth $11,002,000 after acquiring an additional 136,705 shares during the last quarter. 98.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Loop Capital lifted their price target on shares of Caleres from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Piper Sandler upped their price target on Caleres from $30.00 to $35.00 and gave the company a “neutral” rating in a research report on Wednesday, March 20th.

Caleres Stock Performance

NYSE:CAL opened at $33.48 on Friday. Caleres, Inc. has a 52 week low of $23.08 and a 52 week high of $41.94. The firm’s fifty day moving average is $35.84 and its 200-day moving average is $34.92. The firm has a market cap of $1.18 billion, a P/E ratio of 7.09 and a beta of 1.90.

Caleres (NYSE:CAL) last posted its quarterly earnings data on Thursday, May 30th. The textile maker reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.02. Caleres had a return on equity of 27.32% and a net margin of 5.97%. The firm had revenue of $659.20 million during the quarter, compared to analyst estimates of $664.80 million. During the same period last year, the company posted $0.97 EPS. The business’s quarterly revenue was down .5% on a year-over-year basis. As a group, sell-side analysts anticipate that Caleres, Inc. will post 4.4 earnings per share for the current year.

Caleres Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Wednesday, June 5th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, June 5th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.84%. Caleres’s dividend payout ratio (DPR) is presently 5.93%.

Insider Activity

In other Caleres news, insider Daniel R. Freidman sold 15,000 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $37.00, for a total value of $555,000.00. Following the transaction, the insider now owns 64,167 shares in the company, valued at $2,374,179. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Daniel R. Freidman sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $37.00, for a total transaction of $555,000.00. Following the transaction, the insider now directly owns 64,167 shares of the company’s stock, valued at $2,374,179. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Diane M. Sullivan sold 12,126 shares of Caleres stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $35.99, for a total transaction of $436,414.74. Following the completion of the sale, the insider now directly owns 286,023 shares of the company’s stock, valued at approximately $10,293,967.77. The disclosure for this sale can be found here. Insiders sold a total of 100,849 shares of company stock worth $3,659,716 in the last three months. Company insiders own 3.80% of the company’s stock.

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.