Fruth Investment Management Reduces Position in Caleres, Inc. (NYSE:CAL)

Fruth Investment Management trimmed its holdings in shares of Caleres, Inc. (NYSE:CAL) by 5.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,600 shares of the textile maker’s stock after selling 900 shares during the quarter. Fruth Investment Management’s holdings in Caleres were worth $599,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of CAL. Qube Research & Technologies Ltd purchased a new stake in shares of Caleres during the third quarter worth about $1,752,000. Teza Capital Management LLC increased its position in shares of Caleres by 42.2% during the third quarter. Teza Capital Management LLC now owns 11,918 shares of the textile maker’s stock worth $343,000 after acquiring an additional 3,536 shares during the last quarter. American Century Companies Inc. increased its position in shares of Caleres by 55.6% during the third quarter. American Century Companies Inc. now owns 382,557 shares of the textile maker’s stock worth $11,002,000 after acquiring an additional 136,705 shares during the last quarter. Riverwater Partners LLC bought a new stake in Caleres in the fourth quarter valued at about $211,000. Finally, Pacer Advisors Inc. increased its holdings in Caleres by 87.1% in the fourth quarter. Pacer Advisors Inc. now owns 1,433,509 shares of the textile maker’s stock valued at $44,052,000 after buying an additional 667,195 shares during the last quarter. 98.44% of the stock is owned by hedge funds and other institutional investors.

Caleres Trading Up 0.2 %

NYSE:CAL traded up $0.07 during trading hours on Thursday, hitting $32.67. 190,182 shares of the stock traded hands, compared to its average volume of 760,914. The firm has a 50 day moving average price of $35.55 and a 200 day moving average price of $35.06. Caleres, Inc. has a fifty-two week low of $23.42 and a fifty-two week high of $41.94. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 6.92 and a beta of 1.91.

Caleres (NYSE:CAL) last posted its earnings results on Thursday, May 30th. The textile maker reported $0.88 EPS for the quarter, topping the consensus estimate of $0.86 by $0.02. The firm had revenue of $659.20 million for the quarter, compared to the consensus estimate of $664.80 million. Caleres had a net margin of 5.97% and a return on equity of 27.32%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the business posted $0.97 earnings per share. Research analysts predict that Caleres, Inc. will post 4.4 EPS for the current year.

Caleres Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Wednesday, June 5th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend was Wednesday, June 5th. Caleres’s dividend payout ratio is currently 5.93%.

Insider Activity

In other news, insider Daniel R. Freidman sold 15,000 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $37.00, for a total value of $555,000.00. Following the sale, the insider now directly owns 64,167 shares of the company’s stock, valued at $2,374,179. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Daniel R. Freidman sold 15,000 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $37.00, for a total value of $555,000.00. Following the sale, the insider now directly owns 64,167 shares of the company’s stock, valued at $2,374,179. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Diane M. Sullivan sold 6,856 shares of the stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $37.09, for a total transaction of $254,289.04. Following the completion of the sale, the insider now owns 254,668 shares of the company’s stock, valued at approximately $9,445,636.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 100,849 shares of company stock valued at $3,659,716. 3.80% of the stock is owned by insiders.

Analyst Ratings Changes

CAL has been the subject of a number of research reports. Piper Sandler lifted their target price on Caleres from $30.00 to $35.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. Loop Capital upped their price target on Caleres from $40.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, March 20th.

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.