JPMorgan Chase & Co. Sells 131,241 Shares of Caleres Inc. (CAL)
JPMorgan Chase & Co. reduced its position in shares of Caleres Inc. (NYSE:CAL) by 22.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 457,017 shares of the company’s stock after selling 131,241 shares during the period. JPMorgan Chase & Co. owned approximately 1.05% of Caleres worth $11,065,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Virginia Retirement System bought a new stake in shares of Caleres during the first quarter worth $419,000. Prudential Financial Inc. boosted its stake in shares of Caleres by 8.6% in the first quarter. Prudential Financial Inc. now owns 110,313 shares of the company’s stock worth $3,121,000 after buying an additional 8,700 shares during the period. Franklin Resources Inc. boosted its stake in shares of Caleres by 7.4% in the first quarter. Franklin Resources Inc. now owns 1,695,098 shares of the company’s stock worth $47,954,000 after buying an additional 116,700 shares during the period. BlackRock Group LTD boosted its stake in shares of Caleres by 15.0% in the first quarter. BlackRock Group LTD now owns 46,147 shares of the company’s stock worth $1,306,000 after buying an additional 6,024 shares during the period. Finally, BlackRock Fund Advisors boosted its stake in shares of Caleres by 1.2% in the first quarter. BlackRock Fund Advisors now owns 2,759,777 shares of the company’s stock worth $78,074,000 after buying an additional 33,471 shares during the period. Institutional investors and hedge funds own 85.60% of the company’s stock.
Shares of Caleres Inc. (NYSE:CAL) traded up 0.83% during trading on Tuesday, hitting $25.64. The stock had a trading volume of 41,750 shares. Caleres Inc. has a one year low of $21.27 and a one year high of $31.96. The stock has a 50 day moving average price of $25.21 and a 200-day moving average price of $25.17. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 13.57 and a beta of 0.80.
Caleres (NYSE:CAL) last released its quarterly earnings results on Tuesday, August 30th. The company reported $0.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by $0.04. The firm had revenue of $622.94 million for the quarter, compared to analyst estimates of $638.71 million. Caleres had a return on equity of 13.87% and a net margin of 3.26%. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.50 earnings per share. On average, equities research analysts predict that Caleres Inc. will post $0.17 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Monday, September 19th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, September 15th. This represents a $0.28 annualized dividend and a yield of 1.10%. Caleres’s payout ratio is currently 14.66%.
A number of brokerages have weighed in on CAL. Morgan Stanley reiterated a “hold” rating and issued a $30.00 price target on shares of Caleres in a research report on Wednesday, September 7th. Zacks Investment Research upgraded Caleres from a “sell” rating to a “hold” rating in a research report on Friday, June 24th. Susquehanna started coverage on Caleres in a research report on Friday, September 16th. They issued a “neutral” rating and a $25.00 price target on the stock. Finally, BB&T Corp. restated a “buy” rating and set a $28.00 target price (up previously from $26.00) on shares of Caleres in a report on Saturday, June 11th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Caleres presently has an average rating of “Hold” and a consensus price target of $27.67.
Caleres Company Profile
Caleres, Inc, formerly Brown Shoe Company, Inc, is a global footwear retailer and wholesaler. The Company is engaged in the operation of retail shoe stores and e-commerce Websites, as well as the design, sourcing and marketing of footwear for women and men. It operates through two segments: Famous Footwear, which includes its Famous Footwear stores and Famous.com, and Brand Portfolio, which offers retailers and consumers a portfolio of brands from its Healthy Living and Contemporary Fashion platforms.
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