Federated Hermes Inc. Increases Stake in Caleres, Inc. $CAL

Federated Hermes Inc. boosted its holdings in shares of Caleres, Inc. (NYSE:CAL) by 57.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 503,122 shares of the textile maker’s stock after buying an additional 183,287 shares during the quarter. Federated Hermes Inc.’s holdings in Caleres were worth $6,561,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CAL. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Caleres by 60.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 486,530 shares of the textile maker’s stock valued at $5,945,000 after purchasing an additional 183,927 shares during the last quarter. Bank of America Corp DE raised its stake in Caleres by 110.5% in the second quarter. Bank of America Corp DE now owns 302,568 shares of the textile maker’s stock valued at $3,697,000 after buying an additional 158,829 shares during the last quarter. Jump Financial LLC acquired a new stake in Caleres in the second quarter worth about $1,858,000. Paradigm Capital Management Inc. NY grew its stake in shares of Caleres by 18.8% during the second quarter. Paradigm Capital Management Inc. NY now owns 877,000 shares of the textile maker’s stock worth $10,717,000 after acquiring an additional 138,500 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Caleres during the third quarter worth about $1,188,000. 98.44% of the stock is owned by hedge funds and other institutional investors.

Caleres Stock Up 3.8%

Shares of CAL opened at $12.69 on Tuesday. The company has a market capitalization of $430.19 million, a price-to-earnings ratio of 20.14 and a beta of 0.64. Caleres, Inc. has a 52 week low of $9.54 and a 52 week high of $18.38. The stock’s 50-day moving average price is $13.02 and its 200-day moving average price is $13.30.

Caleres (NYSE:CAL) last announced its quarterly earnings results on Tuesday, December 9th. The textile maker reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.08). The company had revenue of $790.05 million during the quarter, compared to analyst estimates of $768.59 million. Caleres had a net margin of 0.78% and a return on equity of 8.62%. The company’s revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.23 earnings per share. Caleres has set its FY 2025 guidance at 0.550-0.60 EPS. As a group, equities analysts anticipate that Caleres, Inc. will post 3.23 EPS for the current fiscal year.

Caleres Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Friday, December 26th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 2.2%. The ex-dividend date was Friday, December 26th. Caleres’s dividend payout ratio (DPR) is currently 44.44%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CAL. Zacks Research cut shares of Caleres from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 28th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Caleres in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Sell” and an average price target of $14.00.

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.