Maverick Capital Ltd. Buys New Shares in Caleres, Inc. (NYSE:CAL)

Maverick Capital Ltd. acquired a new stake in Caleres, Inc. (NYSE:CAL - Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 31,410 shares of the textile maker's stock, valued at approximately $1,038,000. Maverick Capital Ltd. owned about 0.09% of Caleres at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Verition Fund Management LLC purchased a new position in Caleres in the third quarter valued at $863,000. Public Sector Pension Investment Board boosted its position in shares of Caleres by 2.5% during the 3rd quarter. Public Sector Pension Investment Board now owns 74,539 shares of the textile maker's stock worth $2,464,000 after acquiring an additional 1,800 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Caleres in the 3rd quarter valued at about $972,000. FMR LLC raised its position in shares of Caleres by 30.1% during the 3rd quarter. FMR LLC now owns 929,968 shares of the textile maker's stock worth $30,735,000 after acquiring an additional 215,372 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Caleres by 1.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 531,554 shares of the textile maker's stock worth $17,568,000 after purchasing an additional 8,421 shares during the last quarter. 98.44% of the stock is currently owned by institutional investors and hedge funds.

Caleres Stock Down 1.8 %

NYSE:CAL traded down $0.56 during mid-day trading on Friday, reaching $31.07. 256,828 shares of the stock were exchanged, compared to its average volume of 461,379. Caleres, Inc. has a 1 year low of $27.67 and a 1 year high of $44.51. The company has a 50 day simple moving average of $31.30 and a 200-day simple moving average of $34.38. The stock has a market capitalization of $1.09 billion, a P/E ratio of 6.73 and a beta of 1.93.

Caleres (NYSE:CAL - Get Free Report) last announced its earnings results on Thursday, September 12th. The textile maker reported $0.85 EPS for the quarter, missing analysts' consensus estimates of $1.22 by ($0.37). The business had revenue of $683.30 million during the quarter, compared to analyst estimates of $723.80 million. Caleres had a net margin of 5.84% and a return on equity of 24.63%. The business's revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.98 earnings per share. As a group, research analysts predict that Caleres, Inc. will post 4.01 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CAL shares. Loop Capital dropped their price target on shares of Caleres from $45.00 to $30.00 and set a "hold" rating on the stock in a research note on Friday, September 13th. StockNews.com downgraded shares of Caleres from a "buy" rating to a "hold" rating in a research report on Thursday, October 3rd.

Caleres 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.