Caleres, Inc. (NYSE:CAL) Shares Sold by First Manhattan CO. LLC.

First Manhattan CO. LLC. cut its stake in shares of Caleres, Inc. (NYSE:CAL) by 39.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 499,586 shares of the textile maker’s stock after selling 321,251 shares during the quarter. First Manhattan CO. LLC.’s holdings in Caleres were worth $11,605,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Caleres by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 3,223,343 shares of the textile maker’s stock valued at $74,653,000 after purchasing an additional 50,041 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Caleres by 8.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,049,895 shares of the textile maker’s stock valued at $47,475,000 after buying an additional 167,326 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Caleres by 3.2% in the 3rd quarter. Principal Financial Group Inc. now owns 1,835,057 shares of the textile maker’s stock worth $60,648,000 after buying an additional 56,346 shares during the period. American Century Companies Inc. raised its position in Caleres by 10.1% during the 4th quarter. American Century Companies Inc. now owns 1,148,219 shares of the textile maker’s stock worth $26,593,000 after buying an additional 105,392 shares during the last quarter. Finally, Royce & Associates LP lifted its stake in Caleres by 27.3% during the 4th quarter. Royce & Associates LP now owns 804,378 shares of the textile maker’s stock valued at $18,629,000 after acquiring an additional 172,568 shares during the period. 98.44% of the stock is owned by institutional investors and hedge funds.

Caleres Stock Down 4.1 %

Shares of CAL stock opened at $15.04 on Friday. The stock has a market cap of $505.52 million, a PE ratio of 3.35 and a beta of 1.11. Caleres, Inc. has a 52-week low of $14.25 and a 52-week high of $44.51. The business has a 50-day simple moving average of $16.04 and a 200-day simple moving average of $21.09.

Caleres (NYSE:CAL) last released its quarterly earnings data on Thursday, March 20th. The textile maker reported $0.33 EPS for the quarter, topping the consensus estimate of $0.27 by $0.06. Caleres had a return on equity of 22.71% and a net margin of 5.69%. The business had revenue of $639.20 million for the quarter, compared to analyst estimates of $645.79 million. During the same quarter in the prior year, the firm posted $0.86 EPS. The business’s quarterly revenue was down 8.3% compared to the same quarter last year. Sell-side analysts anticipate that Caleres, Inc. will post 3.23 earnings per share for the current fiscal year.

Caleres Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Thursday, March 27th were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.86%. The ex-dividend date was Thursday, March 27th. Caleres’s payout ratio is 9.12%.

Insider Activity

In related news, Director Lori Greeley purchased 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The shares were purchased at an average cost of $17.77 per share, with a total value of $159,930.00. Following the purchase, the director now owns 10,000 shares of the company’s stock, valued at $177,700. This represents a 900.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.10% of the company’s stock.

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 research note on Friday, April 4th.

Caleres Company 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.