Wellington Management Group LLP Sells 221,070 Shares of Caleres, Inc. (NYSE:CAL)

Wellington Management Group LLP lessened its holdings in shares of Caleres, Inc. (NYSE:CAL) by 45.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 263,730 shares of the textile maker’s stock after selling 221,070 shares during the period. Wellington Management Group LLP’s holdings in Caleres were worth $8,104,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Qube Research & Technologies Ltd purchased a new position in shares of Caleres during the third quarter valued at approximately $1,752,000. Pacer Advisors Inc. increased its position in shares of Caleres by 87.1% during the fourth quarter. Pacer Advisors Inc. now owns 1,433,509 shares of the textile maker’s stock valued at $44,052,000 after acquiring an additional 667,195 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Caleres by 76.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,086 shares of the textile maker’s stock valued at $279,000 after acquiring an additional 3,925 shares in the last quarter. Cornercap Investment Counsel Inc. purchased a new stake in Caleres during the 4th quarter valued at $1,032,000. Finally, American Century Companies Inc. raised its stake in shares of Caleres by 55.6% in the third quarter. American Century Companies Inc. now owns 382,557 shares of the textile maker’s stock worth $11,002,000 after purchasing an additional 136,705 shares during the last quarter. Institutional investors own 98.44% of the company’s stock.

Caleres Stock Performance

Shares of CAL opened at $33.48 on Friday. The stock has a market capitalization of $1.18 billion, a PE ratio of 7.09 and a beta of 1.90. The company’s fifty day moving average is $35.84 and its 200 day moving average is $34.92. Caleres, Inc. has a fifty-two week low of $23.08 and a fifty-two week high of $41.94.

Caleres (NYSE:CAL) last announced its quarterly earnings results on Thursday, May 30th. The textile maker reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.02. Caleres had a net margin of 5.97% and a return on equity of 27.32%. The firm had revenue of $659.20 million during the quarter, compared to the consensus estimate of $664.80 million. During the same quarter last year, the firm earned $0.97 EPS. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, research analysts forecast that Caleres, Inc. will post 4.4 earnings per share for the current year.

Caleres Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Wednesday, June 5th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.84%. The ex-dividend date was Wednesday, June 5th. Caleres’s dividend payout ratio is currently 5.93%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CAL. Piper Sandler boosted their price objective on shares of Caleres from $30.00 to $35.00 and gave the company a “neutral” rating in a report on Wednesday, March 20th. Loop Capital increased their price target on shares of Caleres from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th.

Insider Activity at Caleres

In other Caleres news, CEO John W. Schmidt sold 25,332 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $37.63, for a total transaction of $953,243.16. Following the completion of the transaction, the chief executive officer now owns 348,771 shares in the company, valued at $13,124,252.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO John W. Schmidt sold 25,332 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $37.63, for a total value of $953,243.16. Following the transaction, the chief executive officer now owns 348,771 shares of the company’s stock, valued at approximately $13,124,252.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Diane M. Sullivan sold 12,126 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $35.99, for a total transaction of $436,414.74. Following the transaction, the insider now directly owns 286,023 shares in the company, valued at $10,293,967.77. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 100,849 shares of company stock worth $3,659,716. Company insiders own 3.80% of the company’s stock.

Caleres 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.