Optimize Financial Inc Purchases New Position in Caleres, Inc. (NYSE:CAL)

Optimize Financial Inc acquired a new position in Caleres, Inc. (NYSE:CAL) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 13,736 shares of the textile maker’s stock, valued at approximately $318,000.

Several other institutional investors also recently bought and sold shares of CAL. Invesco Ltd. grew its position in shares of Caleres by 48.6% during the 4th quarter. Invesco Ltd. now owns 770,518 shares of the textile maker’s stock worth $17,845,000 after buying an additional 252,140 shares in the last quarter. Royce & Associates LP grew its holdings in Caleres by 27.3% during the 4th quarter. Royce & Associates LP now owns 804,378 shares of the textile maker’s stock worth $18,629,000 after acquiring an additional 172,568 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Caleres during the 4th quarter valued at about $3,781,000. JPMorgan Chase & Co. raised its holdings in shares of Caleres by 42.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 418,722 shares of the textile maker’s stock valued at $13,839,000 after purchasing an additional 124,266 shares in the last quarter. Finally, Empowered Funds LLC lifted its position in shares of Caleres by 314.6% in the 4th quarter. Empowered Funds LLC now owns 156,312 shares of the textile maker’s stock worth $3,620,000 after purchasing an additional 118,611 shares during the period. 98.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Loop Capital cut their price objective on shares of Caleres from $17.00 to $16.00 and set a “hold” rating on the stock in a report on Friday, April 4th.

Caleres Price Performance

Shares of NYSE CAL opened at $15.95 on Friday. Caleres, Inc. has a 1-year low of $14.33 and a 1-year high of $44.51. The business has a fifty day moving average price of $16.66 and a 200 day moving average price of $23.39. The stock has a market capitalization of $535.94 million, a P/E ratio of 3.55 and a beta of 1.42.

Caleres (NYSE:CAL) last announced its earnings results on Thursday, March 20th. The textile maker reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.06. Caleres had a net margin of 5.69% and a return on equity of 22.71%. The business had revenue of $639.20 million during the quarter, compared to the consensus estimate of $645.79 million. During the same period in the previous year, the company posted $0.86 earnings per share. The firm’s revenue was down 8.3% on a year-over-year basis. As a group, equities research analysts anticipate that Caleres, Inc. will post 3.23 earnings per share for the current fiscal year.

Caleres Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Thursday, March 27th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend was Thursday, March 27th. Caleres’s dividend payout ratio is currently 9.12%.

Insider Transactions at Caleres

In other Caleres news, Director Kyle Gendreau purchased 5,000 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were acquired at an average price of $19.93 per share, for a total transaction of $99,650.00. Following the completion of the purchase, the director now owns 5,000 shares of the company’s stock, valued at approximately $99,650. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lori Greeley acquired 9,000 shares of the business’s stock in a transaction dated Thursday, March 27th. The shares were bought at an average price of $17.77 per share, for a total transaction of $159,930.00. Following the acquisition, the director now owns 10,000 shares of the company’s stock, valued at approximately $177,700. This represents a 900.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 3.80% of the company’s stock.

About Caleres

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.