Franklin Resources Inc. Increases Stake in Caleres, Inc. (NYSE:CAL)

Franklin Resources Inc. increased its position in shares of Caleres, Inc. (NYSE:CAL) by 1.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 27,905 shares of the textile maker’s stock after buying an additional 479 shares during the period. Franklin Resources Inc. owned about 0.08% of Caleres worth $908,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its holdings in shares of Caleres by 31,308.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 7,224 shares of the textile maker’s stock valued at $243,000 after purchasing an additional 7,201 shares in the last quarter. Rothschild Investment LLC purchased a new position in Caleres in the second quarter valued at $1,754,000. nVerses Capital LLC acquired a new stake in Caleres in the second quarter valued at $40,000. Victory Capital Management Inc. lifted its holdings in Caleres by 83.8% during the 2nd quarter. Victory Capital Management Inc. now owns 61,959 shares of the textile maker’s stock worth $2,082,000 after buying an additional 28,250 shares during the last quarter. Finally, Foundry Partners LLC purchased a new position in shares of Caleres in the 2nd quarter valued at about $500,000. Hedge funds and other institutional investors own 98.44% of the company’s stock.

Caleres Stock Performance

Shares of CAL stock opened at $23.44 on Friday. The stock has a fifty day moving average price of $28.56 and a 200 day moving average price of $33.02. The stock has a market cap of $788.26 million, a PE ratio of 5.22 and a beta of 1.92. Caleres, Inc. has a 1 year low of $22.07 and a 1 year high of $44.51.

Caleres (NYSE:CAL) last released its quarterly earnings results on Thursday, December 5th. The textile maker reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.15). The firm had revenue of $740.90 million for the quarter, compared to analyst estimates of $751.35 million. Caleres had a return on equity of 22.71% and a net margin of 5.69%. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period last year, the firm earned $1.37 EPS. As a group, equities research analysts predict that Caleres, Inc. will post 3.5 earnings per share for the current year.

Caleres Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be paid a dividend of $0.07 per share. The ex-dividend date is Friday, December 27th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.19%. Caleres’s dividend payout ratio (DPR) is 6.24%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Loop Capital decreased their target price on Caleres from $30.00 to $25.00 and set a “hold” rating for the company in a research note on Friday, December 6th. StockNews.com cut shares of Caleres from a “buy” rating to a “hold” rating in a report on Thursday, October 3rd.

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.