Cornercap Investment Counsel Inc. Sells 17,725 Shares of Caleres, Inc. (NYSE:CAL)

Cornercap Investment Counsel Inc. cut its position in shares of Caleres, Inc. (NYSE:CAL) by 52.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,891 shares of the textile maker’s stock after selling 17,725 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Caleres were worth $525,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. American Century Companies Inc. lifted its stake in shares of Caleres by 25.6% in the 2nd quarter. American Century Companies Inc. now owns 901,852 shares of the textile maker’s stock valued at $30,302,000 after purchasing an additional 183,594 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Caleres by 58.8% in the 2nd quarter. Millennium Management LLC now owns 221,082 shares of the textile maker’s stock valued at $7,428,000 after purchasing an additional 81,836 shares during the last quarter. Great Lakes Advisors LLC lifted its stake in shares of Caleres by 69.6% in the 2nd quarter. Great Lakes Advisors LLC now owns 193,841 shares of the textile maker’s stock valued at $6,513,000 after purchasing an additional 79,581 shares during the last quarter. Leuthold Group LLC bought a new stake in shares of Caleres in the 2nd quarter valued at approximately $2,391,000. Finally, Principal Financial Group Inc. lifted its stake in shares of Caleres by 3.2% in the 3rd quarter. Principal Financial Group Inc. now owns 1,835,057 shares of the textile maker’s stock valued at $60,648,000 after purchasing an additional 56,346 shares during the last quarter. 98.44% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Loop Capital lowered their price objective on Caleres from $45.00 to $30.00 and set a “hold” rating for the company in a research note on Friday, September 13th. StockNews.com lowered Caleres from a “buy” rating to a “hold” rating in a research note on Thursday, October 3rd.

Caleres Stock Performance

Shares of CAL stock opened at $30.54 on Friday. Caleres, Inc. has a 52-week low of $25.96 and a 52-week high of $44.51. The firm has a market capitalization of $1.08 billion, a P/E ratio of 6.61 and a beta of 1.93. The stock has a 50 day moving average price of $31.89 and a 200 day moving average price of $34.90.

Caleres (NYSE:CAL) last issued its quarterly earnings results on Thursday, September 12th. The textile maker reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.37). Caleres had a return on equity of 24.63% and a net margin of 5.84%. The business had revenue of $683.30 million for the quarter, compared to the consensus estimate of $723.80 million. During the same period in the prior year, the business posted $0.98 earnings per share. Caleres’s revenue was down 1.8% on a year-over-year basis. As a group, sell-side analysts forecast that Caleres, Inc. will post 4.04 EPS for the current year.

Caleres Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.28 annualized dividend and a yield of 0.92%. Caleres’s payout ratio is currently 6.06%.

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.