Caleres Inc (CAL) Stake Lowered by Victory Capital Management Inc.

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Victory Capital Management Inc. reduced its stake in Caleres Inc (NYSE:CAL) by 6.1% during the 3rd quarter, Holdings Channel reports. The fund owned 1,288,162 shares of the textile maker’s stock after selling 83,701 shares during the quarter. Victory Capital Management Inc.’s holdings in Caleres were worth $46,193,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Macquarie Group Ltd. acquired a new stake in Caleres during the 2nd quarter worth approximately $26,935,000. BlackRock Inc. lifted its holdings in Caleres by 8.3% during the 2nd quarter. BlackRock Inc. now owns 5,880,651 shares of the textile maker’s stock worth $202,236,000 after buying an additional 451,535 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new stake in Caleres during the 2nd quarter worth approximately $12,885,000. Hodges Capital Management Inc. acquired a new stake in Caleres during the 3rd quarter worth approximately $4,835,000. Finally, WBI Investments Inc. acquired a new stake in Caleres during the 2nd quarter worth approximately $3,480,000. Hedge funds and other institutional investors own 90.33% of the company’s stock.

In other Caleres news, insider Douglas Koch sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $38.00, for a total value of $380,000.00. Following the sale, the insider now directly owns 97,501 shares of the company’s stock, valued at approximately $3,705,038. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Diane M. Sullivan sold 20,000 shares of the stock in a transaction that occurred on Tuesday, August 28th. The shares were sold at an average price of $38.28, for a total transaction of $765,600.00. Following the completion of the sale, the chief executive officer now directly owns 473,534 shares in the company, valued at $18,126,881.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 40,000 shares of company stock worth $1,518,900. Insiders own 5.60% of the company’s stock.

Shares of NYSE:CAL opened at $36.38 on Friday. Caleres Inc has a 52 week low of $27.10 and a 52 week high of $41.09. The company has a current ratio of 1.73, a quick ratio of 0.53 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 16.84 and a beta of 0.94.

Caleres (NYSE:CAL) last announced its quarterly earnings data on Tuesday, September 4th. The textile maker reported $0.59 EPS for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.01). Caleres had a net margin of 3.39% and a return on equity of 13.94%. The firm had revenue of $706.61 million during the quarter, compared to analysts’ expectations of $709.15 million. During the same period in the prior year, the company posted $0.48 earnings per share. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, research analysts forecast that Caleres Inc will post 2.5 earnings per share for the current year.

CAL has been the topic of a number of research reports. Wedbush increased their target price on shares of Caleres from $38.00 to $42.00 and gave the stock an “outperform” rating in a report on Wednesday, August 29th. Loop Capital set a $37.00 target price on shares of Caleres and gave the stock a “hold” rating in a report on Tuesday, September 4th. Zacks Investment Research upgraded shares of Caleres from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a report on Friday, August 31st. ValuEngine upgraded shares of Caleres from a “hold” rating to a “buy” rating in a report on Friday, October 12th. Finally, Macquarie increased their target price on shares of Caleres from $38.00 to $42.00 and gave the stock an “outperform” rating in a report on Wednesday, September 5th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $39.50.

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Caleres Company Profile

Caleres, Inc engages in the retail and wholesale of footwear in the United States, Canada, Guam, and Italy. It operates through Famous Footwear and Brand Portfolio segments. The company offers licensed, branded, and private-label casual, dress, and athletic footwear products to women, men, and children.

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Institutional Ownership by Quarter for Caleres (NYSE:CAL)

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