Caleres (NYSE:CAL) Shares Up 4.4% – Here’s What Happened

Caleres, Inc. (NYSE:CAL) shares rose 4.4% on Tuesday . The company traded as high as $33.97 and last traded at $33.97. Approximately 209,092 shares were traded during trading, a decline of 61% from the average daily volume of 534,733 shares. The stock had previously closed at $32.54.

Analyst Upgrades and Downgrades

CAL has been the topic of a number of recent analyst reports. StockNews.com lowered shares of Caleres from a “buy” rating to a “hold” rating in a report on Thursday, October 3rd. Loop Capital reduced their price target on Caleres from $45.00 to $30.00 and set a “hold” rating for the company in a report on Friday, September 13th.

Caleres Stock Up 1.9 %

The stock has a market cap of $1.16 billion, a P/E ratio of 6.89 and a beta of 1.91. The firm’s 50 day simple moving average is $36.40 and its two-hundred day simple moving average is $35.89.

Caleres (NYSE:CAL) last released its quarterly earnings data on Thursday, September 12th. The textile maker reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.37). Caleres had a net margin of 5.84% and a return on equity of 24.63%. The company had revenue of $683.30 million for the quarter, compared to analyst estimates of $723.80 million. During the same quarter in the prior year, the firm earned $0.98 EPS. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. As a group, equities analysts predict that Caleres, Inc. will post 4.04 EPS for the current year.

Caleres Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.84%. The ex-dividend date was Friday, September 13th. Caleres’s dividend payout ratio (DPR) is presently 5.93%.

Insiders Place Their Bets

In related news, insider Diane M. Sullivan sold 17,068 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $35.45, for a total transaction of $605,060.60. Following the completion of the sale, the insider now directly owns 150,449 shares of the company’s stock, valued at $5,333,417.05. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.80% of the stock is owned by company insiders.

Institutional Trading of Caleres

A number of hedge funds have recently bought and sold shares of the company. nVerses Capital LLC acquired a new stake in shares of Caleres in the second quarter worth $40,000. SG Americas Securities LLC purchased a new stake in Caleres in the 1st quarter worth approximately $117,000. Shell Asset Management Co. purchased a new position in shares of Caleres during the 1st quarter valued at $156,000. Creative Planning purchased a new stake in shares of Caleres during the 3rd quarter worth about $204,000. Finally, AXA S.A. lifted its stake in Caleres by 28.5% in the second quarter. AXA S.A. now owns 6,939 shares of the textile maker’s stock valued at $233,000 after acquiring an additional 1,540 shares during the last quarter. 98.44% of the stock is 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.