Lee Danner & Bass Inc. Makes New Investment in Caleres, Inc. (NYSE:CAL)

Lee Danner & Bass Inc. acquired a new stake in Caleres, Inc. (NYSE:CAL) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 3,500 shares of the textile maker’s stock, valued at approximately $81,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CAL. Smartleaf Asset Management LLC raised its holdings in shares of Caleres by 254.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,733 shares of the textile maker’s stock valued at $40,000 after purchasing an additional 1,244 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of Caleres in the fourth quarter valued at approximately $59,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Caleres in the third quarter valued at approximately $228,000. Amundi raised its holdings in shares of Caleres by 146.1% in the fourth quarter. Amundi now owns 18,712 shares of the textile maker’s stock valued at $404,000 after purchasing an additional 11,109 shares during the last quarter. Finally, Quest Partners LLC increased its holdings in Caleres by 6.6% during the third quarter. Quest Partners LLC now owns 14,028 shares of the textile maker’s stock worth $464,000 after buying an additional 869 shares during the last quarter. 98.44% of the stock is currently owned by institutional investors and hedge funds.

Caleres Trading Down 1.7 %

Shares of CAL opened at $16.56 on Friday. The company has a market cap of $556.90 million, a price-to-earnings ratio of 3.69 and a beta of 1.82. Caleres, Inc. has a 1-year low of $15.00 and a 1-year high of $44.51. The company’s fifty day simple moving average is $17.59 and its 200 day simple moving average is $25.44.

Caleres (NYSE:CAL) last issued its earnings results on Thursday, March 20th. The textile maker reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.06. The business had revenue of $639.20 million for the quarter, compared to the consensus estimate of $645.79 million. Caleres had a net margin of 5.69% and a return on equity of 22.71%. The firm’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.86 earnings per share. As a group, research analysts forecast that Caleres, Inc. will post 3.23 earnings per share for the current year.

Caleres Announces Dividend

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

Insiders Place Their Bets

In related news, Director Kyle Gendreau acquired 5,000 shares of Caleres stock in a transaction on Friday, January 17th. The stock was purchased at an average cost of $19.93 per share, with a total value of $99,650.00. Following the completion of the transaction, the director now directly owns 5,000 shares in the company, valued at $99,650. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.80% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Loop Capital lowered their target price on shares of Caleres from $30.00 to $25.00 and set a “hold” rating on the stock in a report on Friday, December 6th.

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.