Caleres (NYSE:CAL) Stock Price Up 7.1%

Caleres, Inc. (NYSE:CAL) was up 7.1% on Friday . The company traded as high as $32.43 and last traded at $32.39. Approximately 459,846 shares changed hands during trading, a decline of 8% from the average daily volume of 500,191 shares. The stock had previously closed at $30.23.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CAL shares. Loop Capital cut their price objective on shares of Caleres from $45.00 to $30.00 and set a “hold” rating on the stock in a research report on Friday. StockNews.com downgraded Caleres from a “buy” rating to a “hold” rating in a research report on Wednesday.

Caleres Price Performance

The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 6.67 and a beta of 1.93. The company’s fifty day moving average price is $37.48 and its 200-day moving average price is $36.90.

Caleres (NYSE:CAL) last posted its quarterly earnings results on Thursday, September 12th. The textile maker reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.37). The company had revenue of $683.30 million during the quarter, compared to analysts’ expectations of $723.80 million. Caleres had a return on equity of 27.32% and a net margin of 5.97%. The company’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.98 EPS. On average, sell-side analysts forecast that Caleres, Inc. will post 4.4 earnings per share for the current fiscal year.

Caleres Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Friday, September 13th. Caleres’s dividend payout ratio is presently 5.93%.

Insider Buying and Selling at Caleres

In other Caleres news, Director Carla C. Hendra sold 5,349 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $33.07, for a total value of $176,891.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Carla C. Hendra sold 5,349 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $33.07, for a total transaction of $176,891.43. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Diane M. Sullivan sold 19,764 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $33.66, for a total value of $665,256.24. Following the sale, the insider now owns 173,816 shares in the company, valued at $5,850,646.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,181 shares of company stock worth $1,447,208. Company insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Caleres

A number of large investors have recently added to or reduced their stakes in CAL. American Century Companies Inc. grew its position in shares of Caleres by 25.6% in the second quarter. American Century Companies Inc. now owns 901,852 shares of the textile maker’s stock valued at $30,302,000 after purchasing an additional 183,594 shares during the period. Quantedge Capital Pte Ltd acquired a new stake in Caleres in the 4th quarter worth about $3,697,000. Millennium Management LLC increased its stake in Caleres by 58.8% during the 2nd quarter. Millennium Management LLC now owns 221,082 shares of the textile maker’s stock worth $7,428,000 after buying an additional 81,836 shares in the last quarter. Great Lakes Advisors LLC raised its holdings in shares of Caleres by 69.6% during the second quarter. Great Lakes Advisors LLC now owns 193,841 shares of the textile maker’s stock valued at $6,513,000 after acquiring an additional 79,581 shares during the last quarter. Finally, Leuthold Group LLC purchased a new position in shares of Caleres in the second quarter valued at approximately $2,391,000. 98.44% of the stock is currently owned by institutional investors and hedge funds.

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.