Caleres (NYSE:CAL) Posts Earnings Results, Meets Expectations

Caleres (NYSE:CAL) announced its quarterly earnings data on Tuesday. The textile maker reported $0.86 EPS for the quarter, hitting analysts’ consensus estimates of $0.86, Briefing.com reports. Caleres had a return on equity of 29.77% and a net margin of 6.10%. The business had revenue of $697.10 million during the quarter, compared to analysts’ expectations of $694.32 million. During the same period in the previous year, the firm earned $0.65 earnings per share. The firm’s quarterly revenue was up .1% compared to the same quarter last year.

Caleres Stock Up 4.6 %

Shares of CAL traded up $1.85 during midday trading on Thursday, hitting $41.90. The company’s stock had a trading volume of 169,065 shares, compared to its average volume of 377,061. Caleres has a one year low of $16.85 and a one year high of $41.94. The company’s fifty day simple moving average is $34.88 and its two-hundred day simple moving average is $30.57. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of 8.33 and a beta of 1.99.

Caleres Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Thursday, March 28th will be paid a $0.07 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $0.28 annualized dividend and a dividend yield of 0.67%. Caleres’s payout ratio is 5.82%.

Analysts Set New Price Targets

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

Insider Activity

In related news, insider Willis Hill sold 1,650 shares of the firm’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $30.07, for a total transaction of $49,615.50. Following the sale, the insider now owns 59,214 shares of the company’s stock, valued at approximately $1,780,564.98. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Willis Hill sold 1,650 shares of the firm’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $30.07, for a total transaction of $49,615.50. Following the sale, the insider now owns 59,214 shares of the company’s stock, valued at approximately $1,780,564.98. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John W. Schmidt sold 12,668 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $33.29, for a total value of $421,717.72. Following the sale, the chief executive officer now directly owns 360,995 shares in the company, valued at approximately $12,017,523.55. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,318 shares of company stock worth $1,834,002. Insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Moneta Group Investment Advisors LLC raised its position in shares of Caleres by 108,172.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 32,231,553 shares of the textile maker’s stock worth $718,119,000 after acquiring an additional 32,201,784 shares in the last quarter. BlackRock Inc. raised its position in shares of Caleres by 0.6% in the 1st quarter. BlackRock Inc. now owns 5,968,696 shares of the textile maker’s stock worth $115,374,000 after acquiring an additional 36,096 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Caleres by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 3,840,810 shares of the textile maker’s stock worth $74,243,000 after acquiring an additional 171,567 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Caleres by 4.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,850,468 shares of the textile maker’s stock worth $40,025,000 after acquiring an additional 85,324 shares in the last quarter. Finally, State Street Corp increased its position in Caleres by 2.4% in the 1st quarter. State Street Corp now owns 1,568,077 shares of the textile maker’s stock valued at $34,027,000 after buying an additional 37,254 shares in the last quarter. 88.44% of the stock is 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, Eastern 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.