Caleres, Inc. (NYSE:CAL) Sees Large Decline in Short Interest

Caleres, Inc. (NYSE:CAL) was the target of a significant decrease in short interest during the month of December. As of December 31st, there was short interest totaling 5,544,055 shares, a decrease of 20.5% from the December 15th total of 6,973,498 shares. Approximately 17.0% of the company’s shares are short sold. Based on an average daily volume of 826,097 shares, the days-to-cover ratio is currently 6.7 days. Based on an average daily volume of 826,097 shares, the days-to-cover ratio is currently 6.7 days. Approximately 17.0% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Weiss Ratings restated a “sell (d+)” rating on shares of Caleres in a research report on Wednesday, October 8th. Zacks Research raised shares of Caleres from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $14.00.

Caleres Trading Down 1.5%

Shares of NYSE CAL traded down $0.21 during mid-day trading on Tuesday, reaching $13.52. 750,562 shares of the company’s stock were exchanged, compared to its average volume of 656,922. Caleres has a twelve month low of $9.54 and a twelve month high of $20.49. The firm has a market capitalization of $458.41 million, a price-to-earnings ratio of 21.47 and a beta of 0.65. The business has a fifty day simple moving average of $12.54 and a 200 day simple moving average of $13.39.

Caleres (NYSE:CAL) last posted its earnings results on Tuesday, December 9th. The textile maker reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.08). Caleres had a return on equity of 8.62% and a net margin of 0.78%.The business had revenue of $790.05 million for the quarter, compared to the consensus estimate of $768.59 million. During the same period in the previous year, the company posted $1.23 earnings per share. Caleres’s revenue for the quarter was up 6.6% compared to the same quarter last year. Caleres has set its FY 2025 guidance at 0.550-0.60 EPS. Equities research analysts predict that Caleres will post 3.23 earnings per share for the current fiscal year.

Caleres Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Friday, December 26th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Friday, December 26th. Caleres’s dividend payout ratio (DPR) is presently 44.44%.

Hedge Funds Weigh In On Caleres

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. raised its stake in shares of Caleres by 1,662.8% in the 2nd quarter. Osaic Holdings Inc. now owns 1,992 shares of the textile maker’s stock valued at $25,000 after purchasing an additional 1,879 shares during the period. CWM LLC grew its holdings in shares of Caleres by 624.9% during the third quarter. CWM LLC now owns 3,639 shares of the textile maker’s stock worth $47,000 after buying an additional 3,137 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Caleres by 1,485.5% during the second quarter. Parallel Advisors LLC now owns 4,059 shares of the textile maker’s stock worth $50,000 after buying an additional 3,803 shares in the last quarter. State of Wyoming acquired a new stake in Caleres in the 3rd quarter valued at approximately $56,000. Finally, GAMMA Investing LLC lifted its stake in Caleres by 15.3% in the 2nd quarter. GAMMA Investing LLC now owns 6,903 shares of the textile maker’s stock valued at $84,000 after acquiring an additional 915 shares in the last quarter. 98.44% of the stock is owned by institutional investors and hedge funds.

Caleres Company Profile

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.