Caleres (NYSE:CAL) Trading Down 6.9% – Here’s Why

Caleres, Inc. (NYSE:CAL) shares fell 6.9% during mid-day trading on Friday . The company traded as low as $15.39 and last traded at $15.12. 262,245 shares were traded during mid-day trading, a decline of 72% from the average session volume of 925,877 shares. The stock had previously closed at $16.23.

Analyst Ratings Changes

Separately, Loop Capital lowered their price target on shares of Caleres from $17.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday, April 4th.

Caleres Stock Performance

The firm’s 50 day moving average price is $16.66 and its two-hundred day moving average price is $23.39. The firm has a market cap of $535.94 million, a PE ratio of 3.55 and a beta of 1.42.

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

Caleres Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Thursday, March 27th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend was Thursday, March 27th. Caleres’s payout ratio is 9.12%.

Insider Activity at Caleres

In related news, Director Kyle Gendreau bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The stock was purchased at an average price of $19.93 per share, for a total transaction of $99,650.00. Following the acquisition, the director now owns 5,000 shares of the company’s stock, valued at approximately $99,650. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Lori Greeley bought 9,000 shares of the business’s stock in a transaction on Thursday, March 27th. The stock was purchased at an average cost of $17.77 per share, for a total transaction of $159,930.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at $177,700. This trade represents a 900.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Caleres

Hedge funds and other institutional investors have recently bought and sold shares of the company. Versant Capital Management Inc increased its stake in Caleres by 244.0% during the first quarter. Versant Capital Management Inc now owns 1,455 shares of the textile maker’s stock worth $25,000 after purchasing an additional 1,032 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of Caleres by 254.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,733 shares of the textile maker’s stock valued at $40,000 after purchasing an additional 1,244 shares during the period. Golden State Wealth Management LLC acquired a new position in shares of Caleres in the fourth quarter valued at approximately $59,000. Lee Danner & Bass Inc. purchased a new stake in Caleres during the 4th quarter worth approximately $81,000. Finally, Canada Pension Plan Investment Board acquired a new stake in Caleres during the 4th quarter worth approximately $86,000. 98.44% of the stock is currently owned by hedge funds and other institutional investors.

About Caleres

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.