Invenomic Capital Management LP Makes New Investment in Caleres, Inc. $CAL

Invenomic Capital Management LP bought a new stake in shares of Caleres, Inc. (NYSE:CAL) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 673,011 shares of the textile maker’s stock, valued at approximately $11,596,000.

A number of other large investors have also recently made changes to their positions in the business. Millennium Management LLC boosted its position in Caleres by 1,087.7% in the 4th quarter. Millennium Management LLC now owns 180,822 shares of the textile maker’s stock valued at $4,188,000 after buying an additional 165,598 shares during the period. Tidal Investments LLC purchased a new position in Caleres during the fourth quarter valued at $406,000. Royce & Associates LP lifted its stake in shares of Caleres by 4.9% in the first quarter. Royce & Associates LP now owns 843,445 shares of the textile maker’s stock worth $14,533,000 after buying an additional 39,067 shares in the last quarter. American Century Companies Inc. increased its position in Caleres by 6.0% during the first quarter. American Century Companies Inc. now owns 1,216,998 shares of the textile maker’s stock worth $20,969,000 after purchasing an additional 68,779 shares during the last quarter. Finally, Pacific Ridge Capital Partners LLC increased its position in shares of Caleres by 148.2% during the first quarter. Pacific Ridge Capital Partners LLC now owns 50,076 shares of the textile maker’s stock valued at $863,000 after acquiring an additional 29,900 shares during the last quarter. 98.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on CAL. Loop Capital reduced their price objective on shares of Caleres from $16.00 to $14.00 and set a “hold” rating for the company in a research report on Friday, May 30th. Zacks Research lowered shares of Caleres from a “hold” rating to a “strong sell” rating in a report on Friday, August 29th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $14.00.

Caleres Price Performance

Shares of CAL opened at $14.25 on Friday. The company has a market capitalization of $481.48 million, a price-to-earnings ratio of 5.94 and a beta of 1.08. The business’s 50-day moving average is $14.35 and its 200-day moving average is $15.15. Caleres, Inc. has a fifty-two week low of $12.09 and a fifty-two week high of $40.71.

Caleres (NYSE:CAL) last announced its earnings results on Thursday, September 4th. The textile maker reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.16). The company had revenue of $658.52 million for the quarter, compared to the consensus estimate of $656.93 million. Caleres had a return on equity of 14.94% and a net margin of 3.11%.The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.98 EPS. Equities research analysts expect that Caleres, Inc. will post 3.23 earnings per share for the current fiscal year.

Caleres Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $0.28 annualized dividend and a dividend yield of 2.0%. Caleres’s payout ratio is 11.67%.

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.