Caleres (NYSE:CAL) Trading Up 5.4% - Here's What Happened

Caleres, Inc. (NYSE:CAL - Get Free Report)'s stock price rose 5.4% during mid-day trading on Friday . The company traded as high as $16.53 and last traded at $16.36. Approximately 935,823 shares changed hands during trading, an increase of 35% from the average daily volume of 691,425 shares. The stock had previously closed at $15.52.

Analysts Set New Price Targets

Separately, Loop Capital cut their price objective 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 Price Performance

The stock has a market cap of $499.91 million, a PE ratio of 3.35 and a beta of 1.42. The company has a 50 day moving average price of $16.77 and a two-hundred day moving average price of $23.77.

Caleres (NYSE:CAL - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The textile maker reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.27 by $0.06. The firm had revenue of $639.20 million during 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 business's revenue for the quarter was down 8.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.86 earnings per share. As a group, equities analysts predict that Caleres, Inc. will post 3.23 earnings per share for the current fiscal year.

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Caleres Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, March 27th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Thursday, March 27th. Caleres's payout ratio is currently 9.12%.

Insider Activity at Caleres

In related news, Director Lori Greeley purchased 9,000 shares of Caleres stock in a transaction on Thursday, March 27th. The stock was acquired at an average price of $17.77 per share, for a total transaction of $159,930.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at $177,700. This represents a 900.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kyle Gendreau acquired 5,000 shares of the company's stock in a transaction dated Friday, January 17th. The stock was acquired at an average cost of $19.93 per share, with a total value of $99,650.00. Following the purchase, 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 disclosure for this purchase can be found here. 3.80% of the stock is owned by company insiders.

Institutional Trading of Caleres

Hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC raised its holdings in Caleres by 22,328.9% during the 1st quarter. GAMMA Investing LLC now owns 103,173 shares of the textile maker's stock valued at $1,778,000 after buying an additional 102,713 shares during the period. Versant Capital Management Inc grew its position in Caleres by 244.0% in the 1st quarter. Versant Capital Management Inc now owns 1,455 shares of the textile maker's stock valued at $25,000 after acquiring an additional 1,032 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Caleres in the 4th quarter worth about $1,616,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Caleres by 31.7% in the 4th 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 buying an additional 24,316 shares during the period. Finally, Voloridge Investment Management LLC bought a new stake in shares of Caleres during the fourth quarter valued at approximately $8,259,000. 98.44% of the stock is currently owned by hedge funds and other institutional investors.

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.