Daniel Freidman Sells 11,207 Shares of Caleres (NYSE:CAL) Stock

Caleres, Inc. (NYSE:CAL) insider Daniel Freidman sold 11,207 shares of the stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $15.00, for a total value of $168,105.00. Following the sale, the insider directly owned 64,780 shares in the company, valued at $971,700. This trade represents a 14.75% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Caleres Stock Performance

Shares of CAL opened at $14.23 on Wednesday. The stock’s 50-day simple moving average is $12.44 and its 200 day simple moving average is $12.27. The stock has a market capitalization of $480.13 million, a price-to-earnings ratio of -64.68 and a beta of 0.74. Caleres, Inc. has a 52-week low of $8.80 and a 52-week high of $16.14.

Caleres (NYSE:CAL) last issued its quarterly earnings data on Thursday, March 19th. The textile maker reported ($0.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.04. The business had revenue of $695.06 million for the quarter, compared to analysts’ expectations of $688.43 million. Caleres had a positive return on equity of 6.49% and a negative net margin of 0.24%.The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.33 EPS. On average, research analysts forecast that Caleres, Inc. will post 1.57 earnings per share for the current fiscal year.

Caleres Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Thursday, June 11th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, June 11th. This represents a $0.28 dividend on an annualized basis and a yield of 2.0%. Caleres’s dividend payout ratio is -127.27%.

Hedge Funds Weigh In On Caleres

Several institutional investors and hedge funds have recently bought and sold shares of CAL. Northwestern Mutual Wealth Management Co. grew its position in Caleres by 56,997.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,836,841 shares of the textile maker’s stock worth $22,354,000 after acquiring an additional 1,833,624 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in Caleres by 120.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,072,550 shares of the textile maker’s stock worth $13,986,000 after acquiring an additional 586,020 shares during the last quarter. Federated Hermes Inc. grew its position in Caleres by 86.3% during the 4th quarter. Federated Hermes Inc. now owns 937,391 shares of the textile maker’s stock worth $11,408,000 after acquiring an additional 434,269 shares during the last quarter. Renaissance Technologies LLC bought a new position in Caleres during the 4th quarter worth approximately $4,338,000. Finally, Paradigm Capital Management Inc. NY grew its position in Caleres by 39.1% during the 4th quarter. Paradigm Capital Management Inc. NY now owns 911,599 shares of the textile maker’s stock worth $11,094,000 after acquiring an additional 256,155 shares during the last quarter. 98.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on CAL shares. Seaport Research Partners increased their price objective on Caleres from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, March 19th. Zacks Research upgraded Caleres from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 21st. Finally, Weiss Ratings upgraded Caleres from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Caleres currently has an average rating of “Moderate Buy”.

About Caleres

Caleres, Inc, formerly known as Brown Shoe Company, is a leading footwear company engaged in the design, sourcing, marketing and selling of a broad portfolio of branded and private-label shoes. The company’s operations span a range of market segments from value-priced to premium and luxury. Caleres operates through two primary segments: a retail segment anchored by the Famous Footwear banner, which includes more than 1,100 stores across North America, and a brand portfolio segment comprising owned and licensed brands such as Allen Edmonds, Naturalizer, Sam Edelman, Dr.