Monarch Partners Asset Management LLC Takes Position in Caleres Inc (NYSE:CAL)

Monarch Partners Asset Management LLC purchased a new stake in Caleres Inc (NYSE:CAL) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 338,965 shares of the textile maker’s stock, valued at approximately $7,935,000. Monarch Partners Asset Management LLC owned approximately 0.83% of Caleres at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Versant Capital Management Inc lifted its holdings in shares of Caleres by 5,789.5% in the third quarter. Versant Capital Management Inc now owns 1,119 shares of the textile maker’s stock valued at $26,000 after purchasing an additional 1,100 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Caleres by 128.9% in the third quarter. Quadrant Capital Group LLC now owns 3,886 shares of the textile maker’s stock valued at $89,000 after purchasing an additional 2,188 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of Caleres by 267.0% in the second quarter. Bank of Montreal Can now owns 4,782 shares of the textile maker’s stock valued at $96,000 after purchasing an additional 3,479 shares in the last quarter. Quantamental Technologies LLC lifted its holdings in shares of Caleres by 15.4% in the second quarter. Quantamental Technologies LLC now owns 5,986 shares of the textile maker’s stock valued at $119,000 after purchasing an additional 801 shares in the last quarter. Finally, LaSalle Street Capital Management LLC bought a new stake in shares of Caleres in the third quarter valued at about $203,000. Institutional investors own 96.33% of the company’s stock.

Shares of NYSE:CAL traded up $0.26 during midday trading on Friday, reaching $24.64. The company had a trading volume of 506,021 shares, compared to its average volume of 672,190. The company has a quick ratio of 0.24, a current ratio of 0.97 and a debt-to-equity ratio of 1.36. The business’s 50 day moving average price is $22.30 and its 200 day moving average price is $20.71. The stock has a market cap of $981.35 million, a PE ratio of 11.15 and a beta of 0.89. Caleres Inc has a 1-year low of $14.30 and a 1-year high of $37.51.

Caleres (NYSE:CAL) last released its earnings results on Monday, August 26th. The textile maker reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.05. The business had revenue of $752.49 million for the quarter, compared to the consensus estimate of $752.23 million. Caleres had a positive return on equity of 13.75% and a negative net margin of 0.41%. Caleres’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.59 earnings per share. On average, research analysts expect that Caleres Inc will post 2.42 earnings per share for the current fiscal year.

A number of analysts have recently commented on the company. Susquehanna Bancshares set a $20.00 price target on Caleres and gave the company a “buy” rating in a report on Monday, August 26th. ValuEngine raised Caleres from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Zacks Investment Research downgraded Caleres from a “buy” rating to a “hold” rating in a research report on Tuesday, October 29th. Loop Capital lifted their target price on Caleres to $30.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, Peel Hunt reaffirmed a “hold” rating on shares of Caleres in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $27.50.

Caleres Company Profile

Caleres, Inc engages in the retail and wholesale of footwear in the United States, Canada, Guam, and Italy. It operates through Famous Footwear and Brand Portfolio segments. The company offers licensed, branded, and private-label casual, dress, and athletic footwear products to women, men, and children.

Further Reading: Gross Domestic Product (GDP)

Institutional Ownership by Quarter for Caleres (NYSE:CAL)

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