Insider Buying: Caleres, Inc. (NYSE:CAL) Director Purchases 9,000 Shares of Stock

Caleres, Inc. (NYSE:CAL) Director Lori Greeley acquired 9,000 shares of the business’s stock in a transaction dated Thursday, March 27th. The stock was bought at an average cost of $17.77 per share, with a total value of $159,930.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at $177,700. The trade was a 900.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Caleres Trading Up 0.7 %

CAL stock opened at $17.83 on Thursday. Caleres, Inc. has a 1-year low of $15.00 and a 1-year high of $44.51. The business’s 50 day simple moving average is $17.19 and its 200 day simple moving average is $24.38. The firm has a market capitalization of $599.61 million, a PE ratio of 3.97 and a beta of 1.82.

Caleres (NYSE:CAL) last issued its quarterly earnings data on Thursday, March 20th. The textile maker reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.06. The company had revenue of $639.20 million for the quarter, compared to analyst estimates of $645.79 million. Caleres had a net margin of 5.69% and a return on equity of 22.71%. The company’s revenue was down 8.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.86 earnings per share. As a group, sell-side analysts predict that Caleres, Inc. will post 3.23 EPS for the current fiscal year.

Caleres Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, March 27th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Thursday, March 27th. Caleres’s payout ratio is 9.12%.

Institutional Trading of Caleres

Hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its position in Caleres by 1.7% during the 3rd quarter. Franklin Resources Inc. now owns 27,905 shares of the textile maker’s stock worth $908,000 after buying an additional 479 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Caleres by 3.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,448 shares of the textile maker’s stock valued at $450,000 after acquiring an additional 643 shares in the last quarter. MetLife Investment Management LLC increased its position in Caleres by 6.0% during the fourth quarter. MetLife Investment Management LLC now owns 20,870 shares of the textile maker’s stock worth $483,000 after acquiring an additional 1,177 shares during the period. Smartleaf Asset Management LLC raised its stake in Caleres by 254.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,733 shares of the textile maker’s stock worth $40,000 after purchasing an additional 1,244 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its holdings in Caleres by 2.5% in the 3rd quarter. Public Sector Pension Investment Board now owns 74,539 shares of the textile maker’s stock valued at $2,464,000 after purchasing an additional 1,800 shares during the period. 98.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Loop Capital cut their price target on shares of Caleres from $30.00 to $25.00 and set a “hold” rating for the company in a research note on Friday, December 6th.

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.