Caleres (NYSE:CAL) Shares Gap Up After Strong Earnings

Shares of Caleres, Inc. (NYSE:CAL - Get Free Report) gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $16.39, but opened at $16.80. Caleres shares last traded at $16.93, with a volume of 79,229 shares changing hands.

The textile maker reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.06. The company had revenue of $639.20 million for the quarter, compared to the consensus estimate of $645.79 million. Caleres had a net margin of 5.69% and a return on equity of 22.71%. The business's revenue was down 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.86 EPS.

Caleres Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, March 27th will be given a $0.07 dividend. The ex-dividend date of this dividend is Thursday, March 27th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.59%. Caleres's dividend payout ratio is currently 9.12%.

Wall Street Analyst Weigh In

Separately, Loop Capital lowered their price objective on Caleres from $30.00 to $25.00 and set a "hold" rating on the stock in a research report on Friday, December 6th.

Insider Transactions at Caleres

In other Caleres news, Director Kyle Gendreau purchased 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, with a total value of $99,650.00. Following the completion of the transaction, the director now directly owns 5,000 shares of the company's stock, valued at approximately $99,650. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.80% of the stock is owned by insiders.

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Institutional Investors Weigh In On Caleres

Institutional investors have recently added to or reduced their stakes in the stock. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Caleres during the 4th quarter worth approximately $1,616,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Caleres by 31.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 100,962 shares of the textile maker's stock valued at $2,338,000 after acquiring an additional 24,316 shares during the period. Voloridge Investment Management LLC bought a new position in shares of Caleres during the fourth quarter valued at $8,259,000. Vident Advisory LLC boosted its stake in shares of Caleres by 32.6% in the 4th quarter. Vident Advisory LLC now owns 15,918 shares of the textile maker's stock valued at $369,000 after purchasing an additional 3,912 shares in the last quarter. Finally, Tidal Investments LLC bought a new stake in shares of Caleres in the 4th quarter worth about $406,000. 98.44% of the stock is owned by institutional investors and hedge funds.

Caleres Stock Performance

The firm has a market cap of $591.94 million, a price-to-earnings ratio of 3.92 and a beta of 1.82. The business's 50-day moving average is $17.53 and its 200-day moving average is $25.19.

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.