Connor Clark & Lunn Investment Management Ltd. Makes New $719,000 Investment in Caleres, Inc. (NYSE:CAL)

Connor Clark & Lunn Investment Management Ltd. bought a new position in Caleres, Inc. (NYSE:CAL) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 31,032 shares of the textile maker’s stock, valued at approximately $719,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.09% of Caleres at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Barclays PLC increased its holdings in shares of Caleres by 108.8% in the 3rd quarter. Barclays PLC now owns 55,776 shares of the textile maker’s stock worth $1,843,000 after purchasing an additional 29,057 shares in the last quarter. FMR LLC grew its holdings in shares of Caleres by 30.1% in the third quarter. FMR LLC now owns 929,968 shares of the textile maker’s stock worth $30,735,000 after acquiring an additional 215,372 shares during the period. Empowered Funds LLC grew its holdings in shares of Caleres by 314.6% in the fourth quarter. Empowered Funds LLC now owns 156,312 shares of the textile maker’s stock worth $3,620,000 after acquiring an additional 118,611 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Caleres by 50.8% in the fourth quarter. Victory Capital Management Inc. now owns 115,443 shares of the textile maker’s stock worth $2,674,000 after acquiring an additional 38,866 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Caleres by 3.6% in the third quarter. Geode Capital Management LLC now owns 792,057 shares of the textile maker’s stock worth $26,183,000 after acquiring an additional 27,291 shares during the period. Institutional investors own 98.44% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Loop Capital cut their price objective on Caleres from $30.00 to $25.00 and set a “hold” rating for the company in a report on Friday, December 6th.

Caleres Price Performance

Shares of CAL opened at $16.56 on Friday. Caleres, Inc. has a one year low of $15.00 and a one year high of $44.51. The firm has a market capitalization of $556.90 million, a P/E ratio of 3.69 and a beta of 1.82. The business has a fifty day moving average of $17.59 and a 200 day moving average of $25.54.

Caleres (NYSE:CAL) last released its earnings results on Thursday, March 20th. The textile maker reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.06. The company had revenue of $639.20 million for the quarter, compared to the consensus estimate of $645.79 million. Caleres had a return on equity of 22.71% and a net margin of 5.69%. Caleres’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.86 earnings per share. Analysts expect that Caleres, Inc. will post 3.23 EPS for the current fiscal year.

Caleres Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, March 27th will be given a dividend of $0.07 per share. The ex-dividend date is Thursday, March 27th. This represents a $0.28 annualized dividend and a yield of 1.69%. Caleres’s dividend payout ratio (DPR) is presently 9.12%.

Insider Activity at Caleres

In related news, Director Kyle Gendreau bought 5,000 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were bought at an average cost of $19.93 per share, for a total transaction of $99,650.00. Following the completion of the transaction, the director now owns 5,000 shares of the company’s stock, valued at approximately $99,650. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.80% of the stock is owned by company insiders.

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.