Caleres (NYSE:CAL) Stock Price Up 5.4% – Here’s What Happened

by · The Cerbat Gem

Shares of Caleres, Inc. (NYSE:CAL – Get Free Report) traded up 5.4% on Friday . The company traded as high as $16.53 and last traded at $16.36. 935,823 shares were traded during mid-day trading, an increase of 35% from the average session volume of 691,425 shares. The stock had previously closed at $15.52.

Wall Street Analysts Forecast Growth

Separately, Loop Capital dropped their target price on Caleres from $17.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday.

Read Our Latest Research Report on CAL

Caleres Stock Up 3.1 %

The stock’s 50 day moving average price is $17.10 and its two-hundred day moving average price is $24.32. The stock has a market cap of $537.90 million, a price-to-earnings ratio of 3.56 and a beta of 1.82.

Caleres (NYSE:CAL – Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The textile maker reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.06. The company had revenue of $639.20 million for the quarter, compared to the consensus estimate of $645.79 million. Caleres had a return on equity of 22.71% and a net margin of 5.69%. The firm’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same period last year, the firm earned $0.86 EPS. On average, analysts predict that Caleres, Inc. will post 3.23 earnings per share for the current fiscal year.

Caleres Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, March 27th will be given a $0.07 dividend. The ex-dividend date of this dividend is Thursday, March 27th. This represents a $0.28 annualized dividend and a yield of 1.75%. Caleres’s dividend payout ratio is presently 9.12%.

Insider Activity

In other Caleres news, Director Lori Greeley purchased 9,000 shares of the business’s stock in a transaction that occurred on Thursday, March 27th. The stock was purchased at an average price of $17.77 per share, for a total transaction of $159,930.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $177,700. This trade represents a 900.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kyle Gendreau purchased 5,000 shares of Caleres stock in a transaction that occurred on Friday, January 17th. The stock was acquired at an average cost of $19.93 per share, with a total value of $99,650.00. Following the acquisition, the director now directly owns 5,000 shares in the company, valued at $99,650. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 3.80% of the company’s stock.

Institutional Trading of Caleres

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Franklin Resources Inc. lifted its position in shares of Caleres by 1.7% during the 3rd quarter. Franklin Resources Inc. now owns 27,905 shares of the textile maker’s stock valued at $908,000 after buying an additional 479 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Caleres by 3.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,448 shares of the textile maker’s stock worth $450,000 after acquiring an additional 643 shares during the period. Versant Capital Management Inc lifted its holdings in Caleres by 244.0% during the first quarter. Versant Capital Management Inc now owns 1,455 shares of the textile maker’s stock valued at $25,000 after purchasing an additional 1,032 shares in the last quarter. MetLife Investment Management LLC grew its position in shares of Caleres by 6.0% in the fourth quarter. MetLife Investment Management LLC now owns 20,870 shares of the textile maker’s stock valued at $483,000 after purchasing an additional 1,177 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in shares of Caleres by 254.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,733 shares of the textile maker’s stock worth $40,000 after purchasing an additional 1,244 shares in the last quarter. 98.44% of the stock is currently owned by hedge funds and other institutional investors.

Caleres Company Profile

(Get Free Report)

Caleres, Inc engages in the retail and wholesale of footwear business in the United States, Canada, East Asia, and internationally. It operates through Famous Footwear and Brand Portfolio segments. The company offers licensed, branded, and private-label athletic, casual, and dress footwear products. The company provides brand name athletic, casual, and dress shoes, including Nike, Skechers, adidas, Vans, Crocs, Converse, Puma, Birkenstock, New Balance, Under Armour, Dr.

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