Caleres (NYSE:CAL) Insider Sells $168,105.00 in Stock

Caleres, Inc. (NYSE:CAL) insider Daniel Freidman sold 11,207 shares of the business’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $15.00, for a total value of $168,105.00. Following the sale, the insider owned 64,780 shares in the company, valued at $971,700. This represents a 14.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Caleres Stock Down 1.3%

Shares of CAL stock opened at $14.19 on Thursday. The firm has a market capitalization of $478.77 million, a P/E ratio of -64.50 and a beta of 0.74. Caleres, Inc. has a twelve month low of $8.80 and a twelve month high of $16.14. The stock’s fifty day simple moving average is $12.56 and its 200 day simple moving average is $12.31.

Caleres (NYSE:CAL) last issued 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 analyst estimates of $688.43 million. Caleres had a positive return on equity of 6.49% and a negative net margin of 0.24%.Caleres’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS. As a group, equities research analysts expect that Caleres, Inc. will post 1.57 EPS for the current fiscal year.

Caleres Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Thursday, June 11th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, June 11th. This represents a $0.28 annualized dividend and a yield of 2.0%. Caleres’s payout ratio is presently -127.27%.

Analyst Ratings Changes

Several brokerages have commented on CAL. Weiss Ratings raised Caleres from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, May 4th. Zacks Research raised Caleres from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 21st. Finally, Seaport Research Partners lifted their target price on Caleres from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, March 19th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company. According to MarketBeat, Caleres has an average rating of “Moderate Buy”.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada lifted its stake in shares of Caleres by 181.7% in the 1st quarter. Royal Bank of Canada now owns 12,047 shares of the textile maker’s stock valued at $127,000 after purchasing an additional 7,771 shares during the period. Polar Asset Management Partners Inc. lifted its stake in shares of Caleres by 8.1% in the 1st quarter. Polar Asset Management Partners Inc. now owns 97,600 shares of the textile maker’s stock valued at $1,029,000 after purchasing an additional 7,300 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Caleres by 21.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,474,671 shares of the textile maker’s stock valued at $15,543,000 after purchasing an additional 262,576 shares during the period. Sei Investments Co. lifted its stake in shares of Caleres by 13.2% in the 1st quarter. Sei Investments Co. now owns 20,783 shares of the textile maker’s stock valued at $219,000 after purchasing an additional 2,425 shares during the period. Finally, First Trust Advisors LP lifted its stake in shares of Caleres by 16.5% in the 1st quarter. First Trust Advisors LP now owns 15,989 shares of the textile maker’s stock valued at $169,000 after purchasing an additional 2,261 shares during the period. 98.44% of the stock is owned by institutional investors and hedge funds.

Caleres Company Profile

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.