BNP Paribas Arbitrage SA Cuts Stake in Caleres Inc. (CAL)
BNP Paribas Arbitrage SA lowered its stake in shares of Caleres Inc. (NYSE:CAL) by 47.2% during the third quarter, Holdings Channel reports. The institutional investor owned 7,831 shares of the company’s stock after selling 7,000 shares during the period. BNP Paribas Arbitrage SA’s holdings in Caleres were worth $198,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Paradigm Asset Management Co. LLC increased its position in Caleres by 466.7% in the second quarter. Paradigm Asset Management Co. LLC now owns 4,250 shares of the company’s stock valued at $103,000 after buying an additional 3,500 shares in the last quarter. PineBridge Investments L.P. boosted its position in Caleres by 3.7% in the second quarter. PineBridge Investments L.P. now owns 5,537 shares of the company’s stock worth $134,000 after buying an additional 199 shares during the last quarter. Teacher Retirement System of Texas boosted its position in Caleres by 22.8% in the second quarter. Teacher Retirement System of Texas now owns 6,250 shares of the company’s stock worth $151,000 after buying an additional 1,159 shares during the last quarter. Quantbot Technologies LP boosted its position in Caleres by 141.0% in the second quarter. Quantbot Technologies LP now owns 7,126 shares of the company’s stock worth $172,000 after buying an additional 4,169 shares during the last quarter. Finally, Mason Street Advisors LLC acquired a new position in Caleres during the second quarter worth about $207,000. 85.60% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Caleres Inc. (NYSE:CAL) opened at 26.24 on Thursday. The stock has a market capitalization of $1.13 billion, a PE ratio of 13.88 and a beta of 0.80. Caleres Inc. has a one year low of $21.27 and a one year high of $31.82. The firm has a 50 day moving average price of $25.26 and a 200 day moving average price of $25.17.
Caleres (NYSE:CAL) last posted its quarterly earnings results on Tuesday, August 30th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.50 by $0.04. Caleres had a net margin of 3.26% and a return on equity of 13.87%. The company earned $622.94 million during the quarter, compared to analyst estimates of $638.71 million. During the same period in the prior year, the business posted $0.50 EPS. Caleres’s revenue for the quarter was down 2.3% compared to the same quarter last year. Analysts predict that Caleres Inc. will post $0.17 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Monday, September 19th were issued a $0.07 dividend. The ex-dividend date was Thursday, September 15th. This represents a $0.28 annualized dividend and a dividend yield of 1.07%. Caleres’s dividend payout ratio is presently 14.66%.
CAL has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded Caleres from a “sell” rating to a “hold” rating in a report on Friday, June 24th. Susquehanna initiated coverage on Caleres in a report on Friday, September 16th. They set a “neutral” rating and a $25.00 price objective for the company. Morgan Stanley restated a “hold” rating and set a $30.00 price objective on shares of Caleres in a report on Wednesday, September 7th. Finally, BB&T Corp. restated a “buy” rating and set a $28.00 price objective (up previously from $26.00) on shares of Caleres in a report on Saturday, June 11th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $27.67.
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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