Caleres, Inc. Plans Quarterly Dividend of $0.07 (NYSE:CAL)

Caleres, Inc. (NYSE:CAL) declared a quarterly dividend on Friday, March 14th, RTT News reports. Shareholders of record on Thursday, March 27th will be given a dividend of 0.07 per share by the textile maker on Friday, April 11th. This represents a $0.28 annualized dividend and a yield of 1.81%.

Caleres has a dividend payout ratio of 7.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Caleres to earn $3.72 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 7.5%.

Caleres Stock Performance

Shares of NYSE CAL traded up $0.21 during midday trading on Friday, hitting $15.48. 775,937 shares of the company’s stock traded hands, compared to its average volume of 628,850. Caleres has a 1 year low of $15.00 and a 1 year high of $44.51. The stock has a market capitalization of $520.71 million, a price-to-earnings ratio of 3.45 and a beta of 1.82. The firm has a fifty day moving average of $18.24 and a 200 day moving average of $26.65.

Wall Street Analyst Weigh In

Separately, Loop Capital reduced their price target on shares of Caleres from $30.00 to $25.00 and set a “hold” rating for the company in a research report on Friday, December 6th.

Insider Buying and Selling

In other news, Director Kyle Gendreau bought 5,000 shares of Caleres stock in a transaction that occurred on Friday, January 17th. The stock was bought at an average cost of $19.93 per share, with a total value of $99,650.00. Following the acquisition, the director now owns 5,000 shares of the company’s stock, valued at $99,650. The trade was a ? increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.80% of the stock is currently owned by insiders.

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.