Short Interest in Caleres, Inc. (NYSE:CAL) Expands By 17.6%

Caleres, Inc. (NYSE:CAL) was the target of a significant increase in short interest in February. As of February 28th, there was short interest totalling 4,620,000 shares, an increase of 17.6% from the February 13th total of 3,930,000 shares. Currently, 14.3% of the company’s stock are sold short. Based on an average daily trading volume, of 814,700 shares, the days-to-cover ratio is presently 5.7 days.

Wall Street Analyst Weigh In

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

Caleres Trading Down 0.6 %

Caleres stock traded down $0.10 during midday trading on Thursday, hitting $16.30. The stock had a trading volume of 526,387 shares, compared to its average volume of 628,485. The business has a fifty day moving average price of $17.78 and a 200 day moving average price of $25.78. Caleres has a 12 month low of $15.00 and a 12 month high of $44.51. The stock has a market cap of $547.98 million, a P/E ratio of 3.64 and a beta of 1.82.

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

Caleres Announces Dividend

The firm also recently declared 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. 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 1.72%. Caleres’s payout ratio is currently 6.24%.

Insider Activity

In other news, Director Kyle Gendreau bought 5,000 shares of the firm’s stock in a transaction dated Friday, January 17th. The stock was acquired at an average cost of $19.93 per share, for a total transaction of $99,650.00. Following the completion of the purchase, the director now owns 5,000 shares of the company’s stock, valued at $99,650. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Smartleaf Asset Management LLC lifted its holdings in Caleres by 254.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,733 shares of the textile maker’s stock worth $40,000 after acquiring an additional 1,244 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in shares of Caleres in the 4th quarter worth approximately $59,000. Lee Danner & Bass Inc. acquired a new position in Caleres during the 4th quarter valued at approximately $81,000. Canada Pension Plan Investment Board bought a new position in Caleres during the 4th quarter worth $86,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in Caleres in the fourth quarter worth $149,000. 98.44% of the stock is owned by institutional investors and hedge funds.

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.