Invenomic Capital Management LP Raises Stake in Caleres, Inc. $CAL

Invenomic Capital Management LP increased its holdings in shares of Caleres, Inc. (NYSE:CAL) by 19.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 871,600 shares of the textile maker’s stock after acquiring an additional 143,175 shares during the period. Invenomic Capital Management LP’s holdings in Caleres were worth $11,366,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CAL. Bank of America Corp DE lifted its holdings in shares of Caleres by 53.7% during the third quarter. Bank of America Corp DE now owns 465,151 shares of the textile maker’s stock valued at $6,066,000 after purchasing an additional 162,583 shares during the last quarter. Aquatic Capital Management LLC bought a new stake in shares of Caleres in the 3rd quarter worth approximately $540,000. Creative Planning grew its stake in shares of Caleres by 40.2% in the 3rd quarter. Creative Planning now owns 54,395 shares of the textile maker’s stock worth $709,000 after buying an additional 15,595 shares during the last quarter. Man Group plc bought a new position in Caleres during the 3rd quarter valued at approximately $589,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Caleres by 40.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,764 shares of the textile maker’s stock valued at $206,000 after buying an additional 4,502 shares in the last quarter. Institutional investors own 98.44% of the company’s stock.

Caleres Trading Down 1.7%

Shares of CAL stock opened at $9.25 on Monday. Caleres, Inc. has a 12-month low of $9.12 and a 12-month high of $18.27. The stock has a market capitalization of $313.58 million, a P/E ratio of 14.68 and a beta of 0.64. The firm’s 50 day moving average is $12.31 and its 200 day moving average is $12.71.

Wall Street Analysts Forecast Growth

CAL has been the topic of several analyst reports. Zacks Research raised Caleres from a “strong sell” rating to a “hold” rating in a report on Thursday, February 26th. Weiss Ratings restated a “sell (d+)” rating on shares of Caleres in a report on Wednesday, January 21st. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $14.00.

Caleres Profile

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.