Comerica Bank boosted its position in shares of Caleres Inc (NYSE:CAL) by 5.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 46,189 shares of the company’s stock after buying an additional 2,411 shares during the period. Comerica Bank’s holdings in Caleres were worth $1,435,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Bessemer Group Inc. raised its position in shares of Caleres by 306.4% in the fourth quarter. Bessemer Group Inc. now owns 19,100 shares of the company’s stock worth $627,000 after buying an additional 14,400 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Caleres during the fourth quarter worth $4,170,000. Cornercap Investment Counsel Inc. raised its position in shares of Caleres by 1.3% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 22,685 shares of the company’s stock worth $745,000 after buying an additional 300 shares in the last quarter. Hillcrest Asset Management LLC raised its position in shares of Caleres by 1.3% in the third quarter. Hillcrest Asset Management LLC now owns 248,521 shares of the company’s stock worth $6,285,000 after buying an additional 3,250 shares in the last quarter. Finally, Penn Capital Management Co. Inc. raised its position in shares of Caleres by 116.8% in the third quarter. Penn Capital Management Co. Inc. now owns 375,468 shares of the company’s stock worth $9,496,000 after buying an additional 202,280 shares in the last quarter. 85.77% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Caleres (NYSE:CAL)

Shares of Caleres Inc (NYSE:CAL) opened at 26.30 on Tuesday. The company’s 50-day moving average price is $30.41 and its 200 day moving average price is $29.14. Caleres Inc has a 12-month low of $21.27 and a 12-month high of $36.61. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 13.64 and a beta of 0.61.

Caleres (NYSE:CAL) last issued its quarterly earnings results on Thursday, March 16th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by $0.05. The firm earned $639.49 million during the quarter, compared to analyst estimates of $630.22 million. Caleres had a return on equity of 13.54% and a net margin of 3.28%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.26 EPS. On average, equities research analysts forecast that Caleres Inc will post $2.31 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Tuesday, March 21st will be given a $0.07 dividend. The ex-dividend date is Friday, March 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.06%. Caleres’s dividend payout ratio (DPR) is currently 14.43%.

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A number of brokerages have recently weighed in on CAL. Zacks Investment Research lowered Caleres from a “buy” rating to a “hold” rating in a report on Monday. Susquehanna Bancshares Inc reissued a “neutral” rating and issued a $31.00 price objective on shares of Caleres in a report on Monday. Morgan Stanley raised Caleres from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $33.00 to $37.00 in a report on Friday, March 3rd. They noted that the move was a valuation call. Jefferies Group LLC reissued a “hold” rating on shares of Caleres in a report on Tuesday, January 3rd. Finally, CL King lowered Caleres from a “buy” rating to a “neutral” rating in a report on Tuesday, December 13th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $31.17.

In other news, CEO Diane M. Sullivan sold 21,630 shares of the business’s stock in a transaction that occurred on Thursday, December 22nd. The shares were sold at an average price of $33.41, for a total value of $722,658.30. Following the transaction, the chief executive officer now owns 595,423 shares in the company, valued at approximately $19,893,082.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Diane M. Sullivan sold 3,900 shares of the business’s stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $32.00, for a total transaction of $124,800.00. Following the completion of the transaction, the chief executive officer now owns 591,523 shares in the company, valued at approximately $18,928,736. The disclosure for this sale can be found here. Insiders sold a total of 32,530 shares of company stock worth $1,064,608 in the last 90 days. Corporate insiders own 3.20% of the company’s stock.

About Caleres

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.

5 Day Chart for NYSE:CAL

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