Caleres (NYSE:CAL) Releases FY24 Earnings Guidance

Caleres (NYSE:CAL) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $4.10-4.20 for the period, compared to the consensus EPS estimate of $4.15.

Caleres Price Performance

Shares of CAL opened at $27.48 on Tuesday. The company’s 50-day moving average is $26.92 and its 200-day moving average is $25.41. The firm has a market capitalization of $976.64 million, a PE ratio of 6.65 and a beta of 1.86. Caleres has a fifty-two week low of $16.85 and a fifty-two week high of $29.98.

Caleres (NYSE:CAL) last announced its quarterly earnings results on Thursday, August 31st. The textile maker reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.10. The business had revenue of $695.50 million for the quarter, compared to analyst estimates of $704.85 million. Caleres had a net margin of 5.23% and a return on equity of 30.93%. Caleres’s quarterly revenue was down 5.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.38 EPS. Analysts predict that Caleres will post 4.08 earnings per share for the current fiscal year.

Caleres Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 8th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $0.28 annualized dividend and a yield of 1.02%. Caleres’s payout ratio is currently 6.78%.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on Caleres in a research report on Thursday, October 5th. They set a buy rating on the stock.

Insider Buying and Selling at Caleres

In related news, insider Diane M. Sullivan sold 14,707 shares of the stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $27.13, for a total transaction of $399,000.91. Following the sale, the insider now owns 637,926 shares of the company’s stock, valued at $17,306,932.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Diane M. Sullivan sold 14,707 shares of the company’s stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $27.13, for a total transaction of $399,000.91. Following the completion of the sale, the insider now owns 637,926 shares of the company’s stock, valued at $17,306,932.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Diane M. Sullivan sold 4,265 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $27.65, for a total transaction of $117,927.25. Following the completion of the transaction, the insider now directly owns 567,666 shares in the company, valued at $15,695,964.90. The disclosure for this sale can be found here. Insiders sold 86,643 shares of company stock valued at $2,383,329 in the last quarter. Company insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On Caleres

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Moneta Group Investment Advisors LLC increased its stake in shares of Caleres by 108,172.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 32,231,553 shares of the textile maker’s stock valued at $718,119,000 after purchasing an additional 32,201,784 shares during the last quarter. BlackRock Inc. grew its position in Caleres by 0.6% in the first quarter. BlackRock Inc. now owns 5,968,696 shares of the textile maker’s stock valued at $115,374,000 after acquiring an additional 36,096 shares during the last quarter. Vanguard Group Inc. raised its stake in Caleres by 4.7% during the first quarter. Vanguard Group Inc. now owns 3,840,810 shares of the textile maker’s stock worth $74,243,000 after acquiring an additional 171,567 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Caleres by 4.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,850,468 shares of the textile maker’s stock worth $40,025,000 after acquiring an additional 85,324 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Caleres by 2.4% in the 1st quarter. State Street Corp now owns 1,568,077 shares of the textile maker’s stock valued at $34,027,000 after purchasing an additional 37,254 shares in the last quarter. 88.44% of the stock is currently owned by institutional investors.

About Caleres

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.