Cornercap Investment Counsel Inc. Reduces Position in Caleres, Inc. (NYSE:CAL)

Cornercap Investment Counsel Inc. lessened its stake in Caleres, Inc. (NYSE:CAL - Free Report) by 52.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,891 shares of the textile maker's stock after selling 17,725 shares during the period. Cornercap Investment Counsel Inc.'s holdings in Caleres were worth $525,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Caleres by 0.8% in the first quarter. Vanguard Group Inc. now owns 3,160,116 shares of the textile maker's stock valued at $129,660,000 after purchasing an additional 26,214 shares during the last quarter. Principal Financial Group Inc. boosted its position in Caleres by 3.2% during the 3rd quarter. Principal Financial Group Inc. now owns 1,835,057 shares of the textile maker's stock valued at $60,648,000 after buying an additional 56,346 shares during the period. American Century Companies Inc. grew its holdings in Caleres by 25.6% in the 2nd quarter. American Century Companies Inc. now owns 901,852 shares of the textile maker's stock worth $30,302,000 after acquiring an additional 183,594 shares during the last quarter. Millennium Management LLC increased its position in shares of Caleres by 58.8% in the second quarter. Millennium Management LLC now owns 221,082 shares of the textile maker's stock valued at $7,428,000 after acquiring an additional 81,836 shares during the period. Finally, Great Lakes Advisors LLC raised its stake in shares of Caleres by 69.6% during the second quarter. Great Lakes Advisors LLC now owns 193,841 shares of the textile maker's stock valued at $6,513,000 after acquiring an additional 79,581 shares during the last quarter. 98.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CAL shares. Loop Capital reduced their price target on Caleres from $45.00 to $30.00 and set a "hold" rating on the stock in a report on Friday, September 13th. StockNews.com cut Caleres from a "buy" rating to a "hold" rating in a research note on Thursday, October 3rd.

Caleres Stock Performance

Shares of NYSE CAL traded up $0.12 during midday trading on Friday, hitting $30.54. 412,846 shares of the company traded hands, compared to its average volume of 524,349. Caleres, Inc. has a 12-month low of $25.96 and a 12-month high of $44.51. The stock has a 50-day moving average price of $31.89 and a 200 day moving average price of $34.89. The firm has a market cap of $1.08 billion, a P/E ratio of 6.61 and a beta of 1.93.

Caleres (NYSE:CAL - Get Free Report) last posted its 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). Caleres had a return on equity of 24.63% and a net margin of 5.84%. The firm had revenue of $683.30 million for the quarter, compared to analysts' expectations of $723.80 million. During the same quarter last year, the company posted $0.98 EPS. The firm's revenue was down 1.8% on a year-over-year basis. As a group, equities analysts expect that Caleres, Inc. will post 4.04 earnings per share for the current year.

Caleres Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend was Friday, September 13th. Caleres's dividend payout ratio 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.