Caleres (NYSE:CAL) Shares Gap Down to $23.41

Caleres, Inc. (NYSE:CAL – Get Rating) gapped down before the market opened on Friday . The stock had previously closed at $23.41, but opened at $22.88. Caleres shares last traded at $21.98, with a volume of 110,917 shares traded.

Analyst Ratings Changes

CAL has been the topic of a number of recent analyst reports. StockNews.com started coverage on shares of Caleres in a research report on Thursday. They set a “buy” rating on the stock. Piper Sandler upgraded shares of Caleres from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $26.00 to $35.00 in a report on Tuesday, February 21st.

Caleres Trading Down 8.1 %

The firm’s 50 day simple moving average is $22.32 and its 200-day simple moving average is $23.57. The stock has a market capitalization of $780.81 million, a price-to-earnings ratio of 4.38 and a beta of 1.76.

Caleres (NYSE:CAL – Get Rating) last issued its quarterly earnings results on Tuesday, March 14th. The textile maker reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.01. Caleres had a net margin of 6.12% and a return on equity of 42.45%. The firm had revenue of $696.40 million for the quarter, compared to analyst estimates of $691.56 million. During the same period in the previous year, the business earned $0.91 EPS. The company’s revenue was up 2.5% compared to the same quarter last year. As a group, equities research analysts predict that Caleres, Inc. will post 4.18 earnings per share for the current year.

Caleres Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 6th. Stockholders of record on Thursday, March 23rd were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, March 22nd. This represents a $0.28 annualized dividend and a dividend yield of 1.30%. Caleres’s dividend payout ratio is presently 5.70%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CAL. Moneta Group Investment Advisors LLC increased its stake in shares of Caleres by 108,172.2% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 32,231,553 shares of the textile maker’s stock worth $718,119,000 after purchasing an additional 32,201,784 shares during the last quarter. Boston Partners bought a new stake in shares of Caleres during the 4th quarter worth about $19,269,000. Marshall Wace LLP boosted its holdings in shares of Caleres by 1,043.1% during the 4th quarter. Marshall Wace LLP now owns 320,880 shares of the textile maker’s stock worth $7,149,000 after buying an additional 292,808 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Caleres by 162.9% during the 1st quarter. Wellington Management Group LLP now owns 361,770 shares of the textile maker’s stock worth $7,825,000 after buying an additional 224,170 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Caleres by 92.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 451,231 shares of the textile maker’s stock worth $8,722,000 after buying an additional 217,055 shares during the period. 87.46% of the stock is currently owned by institutional investors and hedge funds.

About Caleres

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Caleres, Inc engages in the provision of athletic, casual, and dress footwear products. It operates through the Famous Footwear and Brand Portfolio segments. The Famous Footwear segment provides branded footwear for the entire family. The Brand Portfolio segment sources, manufactures, and markets branded, licensed, and private-labeled footwear primarily to online retailers, national chains, department stores, mass merchandisers, and independent retailers.