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On September 4, 2023, it was reported that Bank of New York Mellon Corp had reduced its stake in Caleres, Inc. by 4.5% during the first quarter of the year. The institutional investor now holds 472,147 shares of the textile maker’s stock after selling 22,457 shares. As of its most recent filing with the Securities and Exchange Commission, Bank of New York Mellon Corp owned approximately 1.30% of Caleres, with a value worth $10,213,000. Several brokerages have recently shared their opinions on CAL stock.
StockNews.com upgraded their rating from “hold” to “buy”, while Piper Sandler downgraded their rating from “overweight” to “neutral” and lowered the price objective for the stock from $35.00 to $25.00 in a research report on May 25th. TheStreet also upgraded the shares from a “c+” rating to a “b” rating on June 1st. Shares of CAL stock opened at $29.82 on Friday, reflecting a positive performance for the company.
Over the past twelve months, Caleres has experienced both lows and highs with prices ranging from $16.85 to $29.98 . Currently, its 50-day moving average stands at $25.93 and its two-hundred-day moving average at $23.94. Caleres holds a market capitalization of $1.08 billion and exhibits a price-to-earnings (P/E) ratio of 6.54 along with a beta of 1.88. As investors consider these recent developments and ratings upgrades/downgrades by various brokerages, they will likely analyze the potential impact on Caleres’ overall performance in order to make informed investment decisions moving forward. In conclusion, Bank of New York Mellon Corp has decreased its stake in Caleres while several brokerages have provided updated ratings on CAL stock.
As the company’s shares continue to perform positively, investors will monitor these developments closely to assess their potential implications. seems to be an invalid ticker Please provide a valid Ticker Recent Changes in Institutional Holdings, Insider Transactions, and Analyst Ratings: Insights for Caleres Inc.
Investors Caleres, Inc., the textile maker based in St. Louis, Missouri, has seen a number of institutional investors modify their holdings of the company’s stock in recent months. Citigroup Inc. increased its position in Caleres by 6.3% during the first quarter, acquiring an additional 2,172 shares, bringing their total holdings to 36,560 shares worth $706,000. Another institutional investor that has recently purchased a new position in Caleres is the Healthcare of Ontario Pension Plan Trust Fund.
Their investment in Caleres during the first quarter totaled approximately $535,000. This shows growing interest from institutions in the company’s stock. MetLife Investment Management LLC also increased its position in Caleres during the first quarter. They acquired an additional 7,161 shares, increasing their total holdings to 20,589 shares valued at $398,000. Panagora Asset Management Inc.
lifted its stake in Caleres by 6.9% during the first quarter as well. They purchased an additional 2,776 shares and now own a total of 42,925 shares worth $830,000. Furthermore,Rhumbline Advisers also increased their holdings of Caleres by 2.6% during Q1 and now own 105,867 shares valued at $2,046,000. It is important to note that hedge funds and other institutional investors hold a significant percentage (88.44%) of Caleres’ stock. In addition to these changes in institutional holdings, there have been some notable insider transactions involving Caleres’ stock lately.
Insider Daniel R.Freidman sold a total of 5,000 shares on Thursday August 31st for an average price of $28 per share. Following this sale,Freidman now holds around $2 million worth of company stocks with approximately 76k total outstanding- while it is not clear if he kept all of his other stocks related investments. Another insider transaction saw Director Carla C.
Hendra selling 2,536 shares of Caleres stock on June 7th at an average price of $19.71. Following this sale, Hendra’s total holdings were reduced to around 2,493 shares valued at $49,137.03. These recent insider transactions indicate some movement within the company and it is worth noting that insiders have sold a total of 21,336 shares over the last three months amounting to approximately $533,385.
Insiders currently hold around 5.40% of Caleres’ stock which is something investors should take into consideration. Various brokerages have provided their opinions on CAL recently as well. StockNews.com upgraded their rating from “hold” to “buy”, while Piper Sandler downgraded theirs from “overweight” to “neutral” and lowered their price target to $25 from a previous aim of $35.
TheStreet also upgraded Caleres’ rating from a “c+” to a “b”. In terms of financial performance, Caleres released its quarterly earnings data on August 31st. The company reported earnings per share (EPS) of $0.98 for the quarter, exceeding analysts’ consensus estimates of $0.88 by $0.10.The firm’s revenue for the period was $695.50 million compared to an estimated figure of $704.85 million by analysts.Caleres had a net margin of 5.73% and a return on equity of 36.28%.
While there was a decrease in quarterly revenue compared to the same period last year- indicating potential challenges-the firm’s EPS remained strong.This suggests that despite some headwinds in revenue,the company has managed its expenses effectively. Investors should also be aware that Caleres recently declared a quarterly dividend.The dividend will be paid on September 29th with shareholders recorded as of September 8th receiving a payout of $0.07 per share.
This represents an annualized dividend of $0.28 and a yield of 0.94%. These figures indicate that Caleres has consistently paid dividends to its shareholders. Overall, the recent changes in institutional holdings for Caleres, along with the insider transactions and analyst ratings, provide valuable insight for investors.
While there have been shifts in stock holdings and some insider selling, it is worth noting that insiders still have a significant stake in the company. The positive quarterly earnings report and the payment of dividends demonstrate the company’s commitment to delivering value to its shareholders.
Investors should carefully consider all these factors before making any decisions regarding their investment strategies related to Caleres Inc.
