Northwestern Mutual Wealth Management Co. Purchases 1,833,624 Shares of Caleres, Inc. $CAL

Northwestern Mutual Wealth Management Co. lifted its stake in Caleres, Inc. (NYSE:CAL) by 56,997.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,836,841 shares of the textile maker’s stock after purchasing an additional 1,833,624 shares during the quarter. Northwestern Mutual Wealth Management Co. owned about 5.42% of Caleres worth $22,354,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in CAL. AQR Capital Management LLC boosted its position in shares of Caleres by 143.2% in the 1st quarter. AQR Capital Management LLC now owns 90,546 shares of the textile maker’s stock worth $1,560,000 after purchasing an additional 53,320 shares in the last quarter. Empowered Funds LLC boosted its position in shares of Caleres by 4.2% in the 1st quarter. Empowered Funds LLC now owns 162,814 shares of the textile maker’s stock worth $2,805,000 after purchasing an additional 6,502 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Caleres by 4.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 105,137 shares of the textile maker’s stock worth $1,812,000 after purchasing an additional 4,175 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Caleres by 5.6% in the 2nd quarter. Franklin Resources Inc. now owns 18,902 shares of the textile maker’s stock worth $231,000 after purchasing an additional 1,007 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in shares of Caleres by 2.4% in the 2nd quarter. Rhumbline Advisers now owns 99,677 shares of the textile maker’s stock worth $1,218,000 after purchasing an additional 2,352 shares in the last quarter. 98.44% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CAL has been the topic of a number of analyst reports. Zacks Research raised Caleres from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 26th. Weiss Ratings raised Caleres from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. Finally, Seaport Research Partners boosted their price target on Caleres from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, March 19th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Caleres presently has a consensus rating of “Reduce” and a consensus price target of $14.00.

Caleres Stock Up 0.5%

Shares of NYSE CAL opened at $11.03 on Wednesday. Caleres, Inc. has a twelve month low of $8.80 and a twelve month high of $17.53. The firm has a market cap of $372.15 million, a P/E ratio of -50.13 and a beta of 0.71. The company has a 50 day moving average of $11.69 and a 200 day moving average of $12.10.

Caleres (NYSE:CAL) last announced its quarterly earnings data on Thursday, March 19th. The textile maker reported ($0.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.04. Caleres had a negative net margin of 0.24% and a positive return on equity of 6.49%. The company had revenue of $695.06 million during the quarter, compared to analyst estimates of $688.43 million. During the same period in the previous year, the business earned $0.33 EPS. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. As a group, equities analysts expect that Caleres, Inc. will post 1.5 earnings per share for the current fiscal year.

Caleres Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 10th. Investors of record on Thursday, March 26th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Thursday, March 26th. Caleres’s payout ratio is presently -127.27%.

Caleres Profile

Caleres, Inc, formerly known as Brown Shoe Company, is a leading footwear company engaged in the design, sourcing, marketing and selling of a broad portfolio of branded and private-label shoes. The company’s operations span a range of market segments from value-priced to premium and luxury. Caleres operates through two primary segments: a retail segment anchored by the Famous Footwear banner, which includes more than 1,100 stores across North America, and a brand portfolio segment comprising owned and licensed brands such as Allen Edmonds, Naturalizer, Sam Edelman, Dr.