Daniel Freidman Sells 11,207 Shares of Caleres (NYSE:CAL) Stock

Caleres, Inc. (NYSE:CAL) insider Daniel Freidman sold 11,207 shares of the company’s stock in a transaction that occurred 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 transaction, the insider directly owned 64,780 shares of the company’s stock, valued at approximately $971,700. This trade represents a 14.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Caleres Stock Performance

CAL traded down $0.45 during trading hours on Monday, reaching $14.11. The company’s stock had a trading volume of 342,951 shares, compared to its average volume of 634,414. Caleres, Inc. has a 52 week low of $8.80 and a 52 week high of $16.14. The company’s 50-day moving average is $12.37 and its 200-day moving average is $12.25. The firm has a market cap of $476.07 million, a PE ratio of -64.13 and a beta of 0.74.

Caleres (NYSE:CAL) last posted its quarterly earnings data on Thursday, March 19th. The textile maker reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.04. Caleres had a positive return on equity of 6.49% and a negative net margin of 0.24%.The firm had revenue of $695.06 million for the quarter, compared to analysts’ expectations of $688.43 million. During the same quarter last year, the business earned $0.33 EPS. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. Equities analysts anticipate that Caleres, Inc. will post 1.57 earnings per share for the current fiscal year.

Caleres Announces Dividend

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 paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Thursday, June 11th. Caleres’s dividend payout ratio (DPR) is presently -127.27%.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Caleres

Hedge funds and other institutional investors have recently modified their holdings of the business. AQR Capital Management LLC increased its holdings in Caleres by 143.2% during the 1st quarter. AQR Capital Management LLC now owns 90,546 shares of the textile maker’s stock worth $1,560,000 after purchasing an additional 53,320 shares during the period. Empowered Funds LLC lifted its holdings in Caleres by 4.2% in the first quarter. Empowered Funds LLC now owns 162,814 shares of the textile maker’s stock valued at $2,805,000 after acquiring an additional 6,502 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Caleres by 4.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 105,137 shares of the textile maker’s stock valued at $1,812,000 after acquiring an additional 4,175 shares during the last quarter. Franklin Resources Inc. raised its position in Caleres by 5.6% in the second quarter. Franklin Resources Inc. now owns 18,902 shares of the textile maker’s stock valued at $231,000 after purchasing an additional 1,007 shares during the period. Finally, Rhumbline Advisers increased its position in shares of Caleres by 2.4% during the second quarter. Rhumbline Advisers now owns 99,677 shares of the textile maker’s stock worth $1,218,000 after acquiring an additional 2,352 shares during the period. 98.44% of the stock is currently owned by hedge funds and other institutional investors.

About Caleres

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.