Caleres, Inc. (NYSE:CAL) Shares Purchased by Franklin Resources Inc.

Franklin Resources Inc. raised its stake in Caleres, Inc. (NYSE:CAL) by 1.7% during the third quarter, Holdings Channel reports. The firm owned 27,905 shares of the textile maker’s stock after purchasing an additional 479 shares during the period. Franklin Resources Inc.’s holdings in Caleres were worth $908,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in CAL. Louisiana State Employees Retirement System boosted its holdings in Caleres by 2.4% in the third quarter. Louisiana State Employees Retirement System now owns 17,000 shares of the textile maker’s stock valued at $562,000 after acquiring an additional 400 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Caleres by 3.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 20,047 shares of the textile maker’s stock worth $662,000 after purchasing an additional 628 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Caleres by 4.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,743 shares of the textile maker’s stock valued at $563,000 after purchasing an additional 761 shares in the last quarter. Quest Partners LLC grew its holdings in shares of Caleres by 6.6% during the 3rd quarter. Quest Partners LLC now owns 14,028 shares of the textile maker’s stock worth $464,000 after purchasing an additional 869 shares during the period. Finally, nVerses Capital LLC acquired a new stake in Caleres during the 2nd quarter worth approximately $40,000. 98.44% of the stock is owned by hedge funds and other institutional investors.

Caleres Stock Performance

Caleres stock opened at $23.44 on Friday. Caleres, Inc. has a one year low of $22.07 and a one year high of $44.51. The stock’s 50 day moving average price is $28.56 and its 200 day moving average price is $33.02. The firm has a market capitalization of $788.26 million, a PE ratio of 5.22 and a beta of 1.92.

Caleres (NYSE:CAL) last announced its earnings results on Thursday, December 5th. The textile maker reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.15). Caleres had a net margin of 5.69% and a return on equity of 22.71%. The firm had revenue of $740.90 million during the quarter, compared to analysts’ expectations of $751.35 million. During the same quarter last year, the company posted $1.37 earnings per share. Caleres’s revenue for the quarter was down 2.8% compared to the same quarter last year. On average, analysts forecast that Caleres, Inc. will post 3.5 earnings per share for the current fiscal year.

Caleres Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend is Friday, December 27th. Caleres’s dividend payout ratio (DPR) is 6.24%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CAL. Loop Capital reduced their price target on shares of Caleres from $30.00 to $25.00 and set a “hold” rating on the stock in a research report on Friday, December 6th. StockNews.com lowered shares of Caleres from a “buy” rating to a “hold” rating in a report on Thursday, October 3rd.

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.