Caleres, Inc. (CAL) to Issue Quarterly Dividend of $0.07 on April 12th

Caleres, Inc. (NYSE:CALGet Free Report) declared a quarterly dividend on Thursday, March 14th, Zacks reports. Investors of record on Thursday, March 28th will be paid a dividend of 0.07 per share by the textile maker on Friday, April 12th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend is Wednesday, March 27th.

Caleres has a payout ratio of 5.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Caleres to earn $4.99 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 5.6%.

Caleres Trading Down 1.6 %

Shares of NYSE CAL opened at $40.46 on Monday. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of 8.41 and a beta of 1.99. Caleres has a 12-month low of $16.85 and a 12-month high of $41.94. The firm’s 50-day moving average price is $35.32 and its 200-day moving average price is $30.75.

Caleres (NYSE:CALGet Free Report) last issued its earnings results on Tuesday, March 19th. The textile maker reported $0.86 EPS for the quarter, hitting analysts’ consensus estimates of $0.86. The business had revenue of $697.10 million for the quarter, compared to the consensus estimate of $694.32 million. Caleres had a net margin of 6.10% and a return on equity of 29.77%. The company’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.65 EPS. On average, equities analysts predict that Caleres will post 4.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. KeyCorp initiated coverage on Caleres in a research report on Wednesday, February 7th. They set a “sector weight” rating on the stock. Loop Capital boosted their target price on shares of Caleres from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Finally, Piper Sandler lifted their price objective on Caleres from $30.00 to $35.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Caleres presently has an average rating of “Moderate Buy” and an average price target of $40.00.

Read Our Latest Research Report on Caleres

Insider Activity at Caleres

In other news, insider Willis Hill sold 1,650 shares of the stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $30.07, for a total transaction of $49,615.50. Following the sale, the insider now directly owns 59,214 shares of the company’s stock, valued at approximately $1,780,564.98. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Willis Hill sold 1,650 shares of the business’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $30.07, for a total value of $49,615.50. Following the completion of the sale, the insider now directly owns 59,214 shares in the company, valued at $1,780,564.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John W. Schmidt sold 12,668 shares of the stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $30.16, for a total transaction of $382,066.88. Following the transaction, the chief executive officer now directly owns 373,663 shares in the company, valued at $11,269,676.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,318 shares of company stock worth $1,834,002. 4.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Caleres

A number of hedge funds have recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Caleres by 5.5% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 12,318 shares of the textile maker’s stock worth $294,000 after buying an additional 644 shares in the last quarter. Twinbeech Capital LP acquired a new stake in shares of Caleres in the third quarter valued at approximately $268,000. Hsbc Holdings PLC acquired a new position in Caleres during the first quarter worth $255,000. State Board of Administration of Florida Retirement System purchased a new stake in Caleres in the 2nd quarter valued at $236,000. Finally, Marshall Wace LLP acquired a new stake in shares of Caleres in the 2nd quarter worth $234,000. Institutional investors and hedge funds own 98.44% of the company’s stock.

About Caleres

(Get Free Report)

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.

See Also

Dividend History for Caleres (NYSE:CAL)

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