Empowered Funds LLC Invests $1.88 Million in Caleres, Inc. $CAL

Empowered Funds LLC bought a new stake in Caleres, Inc. (NYSE:CAL) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 152,181 shares of the textile maker’s stock, valued at approximately $1,882,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Osaic Holdings Inc. raised its stake in Caleres by 1,662.8% during the 2nd quarter. Osaic Holdings Inc. now owns 1,992 shares of the textile maker’s stock worth $25,000 after buying an additional 1,879 shares during the period. Global Retirement Partners LLC bought a new position in Caleres in the fourth quarter worth approximately $25,000. Quadrant Capital Group LLC grew its stake in Caleres by 1,032.4% in the fourth quarter. Quadrant Capital Group LLC now owns 2,412 shares of the textile maker’s stock valued at $29,000 after acquiring an additional 2,199 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new stake in Caleres in the second quarter valued at approximately $37,000. Finally, Legal & General Group Plc bought a new stake in shares of Caleres during the second quarter valued at approximately $43,000. 98.44% of the stock is owned by institutional investors.

Caleres Price Performance

CAL opened at $12.11 on Friday. The company has a market capitalization of $406.77 million, a price-to-earnings ratio of -1,209.79 and a beta of 0.75. The firm’s fifty day moving average price is $12.73 and its two-hundred day moving average price is $12.43. Caleres, Inc. has a 1 year low of $8.80 and a 1 year high of $16.14.

Caleres (NYSE:CAL) last announced its earnings results on Thursday, June 4th. The textile maker reported $0.38 EPS for the quarter, beating the consensus estimate of $0.37 by $0.01. Caleres had a net margin of 0.02% and a return on equity of 7.33%. The company had revenue of $666.60 million during the quarter, compared to the consensus estimate of $662.63 million. During the same quarter in the prior year, the company posted $0.22 earnings per share. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. As a group, equities analysts anticipate that Caleres, Inc. will post 1.62 EPS for the current year.

Caleres Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be issued a dividend of $0.07 per share. The ex-dividend date is Friday, September 11th. This represents a $0.28 annualized dividend and a yield of 2.3%. Caleres’s payout ratio is -2,800.00%.

Analyst Upgrades and Downgrades

CAL has been the topic of a number of research reports. KeyCorp reaffirmed a “sector weight” rating on shares of Caleres in a research report on Friday, June 5th. Weiss Ratings reissued a “sell (d+)” rating on shares of Caleres in a research report on Friday, July 31st. Wall Street Zen lowered shares of Caleres from a “buy” rating to a “hold” rating in a research note on Saturday, August 29th. Finally, Zacks Research downgraded shares of Caleres from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 1st. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Caleres has an average rating of “Reduce”.

About Caleres

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.