Connor Clark & Lunn Investment Management Ltd. Takes $719,000 Position in Caleres, Inc. (NYSE:CAL)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Caleres, Inc. (NYSE:CAL) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 31,032 shares of the textile maker’s stock, valued at approximately $719,000.

Other large investors have also made changes to their positions in the company. Smartleaf Asset Management LLC lifted its position 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 acquiring an additional 1,244 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in shares of Caleres in the fourth quarter valued at about $59,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Caleres in the third quarter valued at about $228,000. Amundi lifted its position 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 acquiring an additional 11,109 shares in the last quarter. Finally, Quest Partners LLC lifted its position in shares of Caleres by 6.6% in the third quarter. Quest Partners LLC now owns 14,028 shares of the textile maker’s stock valued at $464,000 after acquiring an additional 869 shares in the last quarter. 98.44% of the stock is currently owned by hedge funds and other institutional investors.

Caleres Trading Down 1.7 %

NYSE:CAL opened at $16.56 on Friday. The company has a market capitalization of $556.90 million, a P/E ratio of 3.69 and a beta of 1.82. Caleres, Inc. has a 12 month low of $15.00 and a 12 month high of $44.51. The business’s 50-day moving average is $17.59 and its 200 day moving average is $25.54.

Caleres (NYSE:CAL) last posted its earnings results on Thursday, March 20th. The textile maker reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.06. The company had revenue of $639.20 million for the quarter, compared to the consensus estimate of $645.79 million. Caleres had a return on equity of 22.71% and a net margin of 5.69%. 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 business earned $0.86 earnings per share. On average, 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 paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, March 27th. This represents a $0.28 annualized dividend and a yield of 1.69%. Caleres’s payout ratio is currently 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 shares were bought at an average cost of $19.93 per share, with a total value of $99,650.00. Following the completion of the purchase, the director now directly owns 5,000 shares of the company’s stock, valued at $99,650. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 3.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

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.