Creative Planning Makes New Investment in Caleres, Inc. (NYSE:CAL)

Creative Planning purchased a new position in shares of Caleres, Inc. (NYSE:CAL) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,162 shares of the textile maker’s stock, valued at approximately $204,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. nVerses Capital LLC bought a new position in shares of Caleres in the second quarter valued at approximately $40,000. SG Americas Securities LLC bought a new position in shares of Caleres in the first quarter valued at approximately $117,000. Shell Asset Management Co. bought a new position in shares of Caleres in the first quarter valued at approximately $156,000. Mutual of America Capital Management LLC bought a new position in shares of Caleres in the first quarter valued at approximately $236,000. Finally, Inspire Advisors LLC bought a new position in shares of Caleres in the first quarter valued at approximately $259,000. Institutional investors own 98.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CAL. Loop Capital cut their target price on shares of Caleres from $45.00 to $30.00 and set a “hold” rating for the company in a research note on Friday, September 13th. StockNews.com cut shares of Caleres from a “buy” rating to a “hold” rating in a research note on Thursday, October 3rd.

Caleres Price Performance

Shares of Caleres stock opened at $31.28 on Tuesday. The firm has a 50 day simple moving average of $32.78 and a 200 day simple moving average of $35.08. Caleres, Inc. has a fifty-two week low of $25.68 and a fifty-two week high of $44.51. The firm has a market cap of $1.10 billion, a P/E ratio of 6.77 and a beta of 1.93.

Caleres (NYSE:CAL) last announced its quarterly earnings results on Thursday, September 12th. The textile maker reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.37). The firm had revenue of $683.30 million for the quarter, compared to the consensus estimate of $723.80 million. Caleres had a return on equity of 24.63% and a net margin of 5.84%. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.98 earnings per share. On average, sell-side analysts expect that Caleres, Inc. will post 4.04 EPS for the current year.

Caleres Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.28 annualized dividend and a yield of 0.90%. Caleres’s dividend payout ratio (DPR) is presently 6.06%.

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.