Caleres, Inc. (NYSE:CAL) Insider Sells $555,000.00 in Stock

Caleres, Inc. (NYSE:CAL) insider Daniel R. Freidman sold 15,000 shares of Caleres stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $37.00, for a total value of $555,000.00. Following the sale, the insider now directly owns 64,167 shares of the company’s stock, valued at approximately $2,374,179. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Caleres Trading Down 2.1 %

Shares of NYSE:CAL opened at $35.41 on Friday. Caleres, Inc. has a 12-month low of $16.85 and a 12-month high of $41.94. The company has a market capitalization of $1.24 billion, a PE ratio of 7.36 and a beta of 1.99. The business has a 50 day moving average of $37.57 and a two-hundred day moving average of $31.86.

Caleres (NYSE:CAL) last posted its quarterly earnings data on Tuesday, March 19th. The textile maker reported $0.86 EPS for the quarter, meeting analysts’ consensus estimates of $0.86. The business had revenue of $697.10 million during the quarter, compared to analysts’ expectations of $694.32 million. Caleres had a return on equity of 29.77% and a net margin of 6.10%. The business’s revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.65 earnings per share. Equities research analysts predict that Caleres, Inc. will post 4.43 earnings per share for the current fiscal year.

Caleres Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Thursday, March 28th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.79%. The ex-dividend date was Wednesday, March 27th. Caleres’s dividend payout ratio (DPR) is presently 5.82%.

Hedge Funds Weigh In On Caleres

Several large investors have recently modified their holdings of CAL. Bank of New York Mellon Corp lifted its stake in shares of Caleres by 0.7% in the 1st quarter. Bank of New York Mellon Corp now owns 445,331 shares of the textile maker’s stock valued at $8,608,000 after purchasing an additional 3,167 shares during the last quarter. Citigroup Inc. lifted its stake in shares of Caleres by 6.3% in the 1st quarter. Citigroup Inc. now owns 36,560 shares of the textile maker’s stock valued at $706,000 after purchasing an additional 2,172 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Caleres in the 1st quarter valued at $535,000. MetLife Investment Management LLC lifted its stake in shares of Caleres by 53.3% in the 1st quarter. MetLife Investment Management LLC now owns 20,589 shares of the textile maker’s stock valued at $398,000 after purchasing an additional 7,161 shares during the last quarter. Finally, Panagora Asset Management Inc. lifted its stake in shares of Caleres by 6.9% in the 1st quarter. Panagora Asset Management Inc. now owns 42,925 shares of the textile maker’s stock valued at $830,000 after purchasing an additional 2,776 shares during the last quarter. Institutional investors and hedge funds own 98.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CAL. Piper Sandler lifted their target price on Caleres from $30.00 to $35.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. Loop Capital boosted their price target on Caleres from $40.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Finally, KeyCorp initiated coverage on Caleres in a report on Wednesday, February 7th. They issued a “sector weight” rating for the company. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $40.00.

Caleres Company Profile

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.