Key Points
- Insider sale: Caleres insider Daniel Freidman sold 11,207 shares at an average price of $15.00, totaling about $168,105. The trade was made under a pre-arranged Rule 10b5-1 plan and reduced his holdings by 14.75%.
- Company results and outlook: Caleres recently reported quarterly EPS of -$0.36, beating expectations, on revenue of $695.06 million, which also topped estimates and rose 8.7% year over year. Analysts currently expect the company to earn 1.57 EPS for the full year.
- Dividend and market view: The company declared a quarterly dividend of $0.07 per share, payable June 26, implying a 2.0% annualized yield. Wall Street sentiment is mixed but leans Moderate Buy, with one recent upgrade from Zacks Research and a higher price target from Seaport Research Partners.
Caleres, Inc. (NYSE:CAL - Get Free Report) insider Daniel Freidman sold 11,207 shares of the company's stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $15.00, for a total transaction of $168,105.00. Following the completion of the sale, the insider owned 64,780 shares in the company, valued at approximately $971,700. This trade represents a 14.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Caleres Stock Performance
Shares of CAL opened at $14.23 on Tuesday. The stock has a market cap of $480.12 million, a PE ratio of -64.68 and a beta of 0.74. Caleres, Inc. has a fifty-two week low of $8.80 and a fifty-two week high of $16.14. The firm's 50-day simple moving average is $12.44 and its two-hundred day simple moving average is $12.27.
Caleres (NYSE:CAL - Get Free Report) last announced its quarterly earnings data on Thursday, March 19th. The textile maker reported ($0.36) earnings per share for the quarter, topping analysts' consensus estimates of ($0.40) by $0.04. The business had revenue of $695.06 million for the quarter, compared to analysts' expectations of $688.43 million. Caleres had a negative net margin of 0.24% and a positive return on equity of 6.49%. The business's revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.33 earnings per share. Equities research analysts predict that Caleres, Inc. will post 1.57 EPS for the current year.
Caleres Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Thursday, June 11th will be issued a dividend of $0.07 per share. The ex-dividend date is Thursday, June 11th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.0%. Caleres's dividend payout ratio is presently -127.27%.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the business. Invenomic Capital Management LP raised its position in Caleres by 19.7% in the third quarter. Invenomic Capital Management LP now owns 871,600 shares of the textile maker's stock worth $11,366,000 after acquiring an additional 143,175 shares during the period. Daytona Street Capital LLC bought a new stake in shares of Caleres during the 4th quarter valued at $1,141,000. SG Americas Securities LLC grew its stake in Caleres by 229.1% during the fourth quarter. SG Americas Securities LLC now owns 162,932 shares of the textile maker's stock valued at $1,983,000 after acquiring an additional 113,426 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Caleres during the third quarter valued at $1,188,000. Finally, Federated Hermes Inc. grew its stake in Caleres by 57.3% during the third quarter. Federated Hermes Inc. now owns 503,122 shares of the textile maker's stock valued at $6,561,000 after acquiring an additional 183,287 shares in the last quarter. 98.44% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently commented on CAL shares. Weiss Ratings upgraded shares of Caleres from a "sell (d)" rating to a "sell (d+)" rating in a report on Monday, May 4th. Zacks Research upgraded shares of Caleres from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 21st. Finally, Seaport Research Partners increased their price target on shares of Caleres from $14.00 to $16.00 and gave the company a "buy" rating in a report on Thursday, March 19th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy".
Get Our Latest Stock Report on Caleres
Caleres Company Profile
(
Get Free Report)
Caleres, Inc, formerly known as Brown Shoe Company, is a leading footwear company engaged in the design, sourcing, marketing and selling of a broad portfolio of branded and private-label shoes. The company's operations span a range of market segments from value-priced to premium and luxury. Caleres operates through two primary segments: a retail segment anchored by the Famous Footwear banner, which includes more than 1,100 stores across North America, and a brand portfolio segment comprising owned and licensed brands such as Allen Edmonds, Naturalizer, Sam Edelman, Dr.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
