Caleres (NYSE:CAL) Stock Crosses Above 200 Day Moving Average of $24.09

Caleres, Inc. (NYSE:CAL) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $24.09 and traded as high as $27.98. Caleres shares last traded at $27.29, with a volume of 2,209,161 shares trading hands.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CAL shares. StockNews.com upgraded Caleres from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. TheStreet upgraded Caleres from a “c+” rating to a “b” rating in a research report on Thursday, June 1st. Finally, Piper Sandler cut Caleres from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $35.00 to $25.00 in a research report on Thursday, May 25th.

Caleres Stock Down 2.8 %

The company has a 50-day moving average of $26.68 and a 200 day moving average of $24.07. The firm has a market capitalization of $969.50 million, a PE ratio of 6.61 and a beta of 1.84.

Caleres (NYSE:CAL) last posted its earnings results on Thursday, August 31st. The textile maker reported $0.98 EPS for the quarter, topping the consensus estimate of $0.88 by $0.10. Caleres had a return on equity of 30.93% and a net margin of 5.23%. The business had revenue of $695.50 million during the quarter, compared to analysts’ expectations of $704.85 million. During the same period in the previous year, the business earned $1.38 earnings per share. The firm’s revenue was down 5.8% on a year-over-year basis. As a group, equities analysts anticipate that Caleres, Inc. will post 4.13 EPS for the current fiscal year.

Caleres Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.03%. The ex-dividend date is Thursday, September 7th. Caleres’s dividend payout ratio (DPR) is currently 6.78%.

Insiders Place Their Bets

In other Caleres news, insider Daniel R. Freidman sold 5,000 shares of Caleres stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $28.00, for a total transaction of $140,000.00. Following the completion of the sale, the insider now owns 76,311 shares of the company’s stock, valued at $2,136,708. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Caleres news, insider Willis Hill sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $24.80, for a total transaction of $198,400.00. Following the completion of the transaction, the insider now owns 60,792 shares of the company’s stock, valued at approximately $1,507,641.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel R. Freidman sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $28.00, for a total value of $140,000.00. Following the transaction, the insider now directly owns 76,311 shares of the company’s stock, valued at approximately $2,136,708. The disclosure for this sale can be found here. Insiders sold a total of 31,150 shares of company stock valued at $828,336 over the last 90 days. Insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp grew its holdings in shares of Caleres by 0.7% during the 1st quarter. Bank of New York Mellon Corp now owns 445,331 shares of the textile maker’s stock worth $8,608,000 after acquiring an additional 3,167 shares during the period. Citigroup Inc. grew its holdings in shares of Caleres by 6.3% during the 1st quarter. Citigroup Inc. now owns 36,560 shares of the textile maker’s stock worth $706,000 after acquiring an additional 2,172 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Caleres during the 1st quarter worth approximately $535,000. MetLife Investment Management LLC grew its holdings in shares of Caleres by 53.3% during the 1st quarter. MetLife Investment Management LLC now owns 20,589 shares of the textile maker’s stock worth $398,000 after acquiring an additional 7,161 shares during the period. Finally, Panagora Asset Management Inc. grew its holdings in shares of Caleres by 6.9% during the 1st quarter. Panagora Asset Management Inc. now owns 42,925 shares of the textile maker’s stock worth $830,000 after acquiring an additional 2,776 shares during the period. Institutional investors own 88.44% of the company’s stock.

Caleres Company Profile

Caleres, Inc engages in the retail and wholesale of footwear business in the United States, Canada, Eastern 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.