Dimensional Fund Advisors LP recently announced the acquisition of new stake in Caleres Inc. (NYSE:CAL). The institutional investor has increased its shareholding in the Consumer Cyclical company by 4.86% to 1.77 million shares with purchase of 81847.0 shares. This fresh investment now brings its stake to 4.96% valued currently at $46.09 million. In addition, SSgA Funds Management, Inc. raised its holdings by 70856.0 to 1.53 million shares. And Paradigm Capital Management, Inc. has lifted its position by 16.77% or 0.15 million shares – to 1.04 million shares.
With over 1.69 million Caleres Inc. (CAL) shares trading Monday and a closing price of $22.90 on the day, the dollar volume was approximately $38.63 million. The shares have shown a negative half year performance of -10.93% and its price on 03/13/23 lost nearly -4.30%. Currently, there are 34.38M common shares owned by the public and among those 33.81M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 3 analysts who have offered their price forecasts for CAL have a consensus price objective of $34.75. The analysts have set the share’s price value over the next 12 months at a high of $37.00 and a low of $32.00. The average price target is 34.1% above its recent price level and an upside to the estimated low will see the stock gain 28.44% over that period. But an upside of 38.11% will see the stock hit the forecast high price target while median target price for the stock is $35.00.
Insiders at the company have transacted a total of 72 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 19 of these insider trades were purchases, accounting for 556,785 shares. Insider sales of the common stock occurred on 53 occasions, with total insider shares sold totaling 401,716 shares.
The top 3 mutual fund holders in Caleres Inc. are iShares Core S&P Small Cap ETF, Vanguard Total Stock Market Index, and iShares Russell 2000 ETF. iShares Core S&P Small Cap ETF owns 2.78 million shares of the company’s stock, all valued at over $72.57 million. The company bought an additional 6760.0 shares recently to bring their total holdings to about 7.80% of the shares outstanding. iShares Russell 2000 ETF sold 2448.0 shares to bring its total holdings to over 0.77 million shares at a value of $20.12 million. iShares Russell 2000 ETF now owns shares totaling to 2.16% of the shares outstanding.
Shares of Caleres Inc. (NYSE: CAL) opened at $23.14, down -$0.79 from a prior closing price of $23.93. However, the script later moved the day high at 27.58, down -4.30%. The company’s stock has a 5-day price change of -8.98% and 0.88% over the past three months. CAL shares are trading 2.78% year to date (YTD), with the 12-month market performance up to 13.14% higher. It has a 12-month low price of $18.98 and touched a high of $31.13 over the same period. CAL has an average intraday trading volume of 662.32K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -10.42%, -6.46%, and -10.47% respectively.
Institutional ownership of Caleres Inc. (NYSE: CAL) shares accounts for 93.10% of the company’s 34.38M shares outstanding. Mutual fund holders own 48.60%, while other institutional holders and individual stakeholders account for 5.84% and 41.85% respectively.
It has a market capitalization of $862.87M and a beta (3y monthly) value of 1.81. The stock’s trailing 12-month PE ratio is 4.85, while the earnings-per-share (ttm) stands at $4.72. The company has a PEG of 0.32 and a Quick Ratio of 0.30 with the debt-to-equity ratio at 0.91. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.64% over the week and 3.94% over the month.
Analysts forecast that Caleres Inc. (CAL) will achieve an EPS of $0.48 for the current quarter, $1.43 for the next quarter and $4.58 for 2024. The lowest estimate earnings-per-share for the quarter is $0.46 while analysts give the company a high EPS estimate of $0.54. Comparatively, EPS for the current quarter was $0.91 a year ago. Earnings per share for the fiscal year are expected to increase by 129.60%, and -7.15% over the next financial year. EPS should shrink at an annualized rate of 15.00% over the next five years, compared to 18.60% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 3 brokerage firm advisors rate Caleres Inc. (CAL) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 0 of the 3 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the CAL, a number of firms have released research notes about the stock. Piper Sandler stated their Overweight rating for the stock in a research note on February 21, 2023, with the firm’s price target at $26-$35. Piper Sandler coverage for the Caleres Inc. (CAL) stock in a research note released on October 25, 2022 offered a Neutral rating with a price target of $28. Seaport Research Partners was of a view on June 24, 2022 that the stock is Buy, while CL King gave the stock Buy rating on June 01, 2021, issuing a price target of $29. Susquehanna on their part issued Positive rating on July 10, 2020.
