Caleres (NYSE:CAL) Shares Gap Down to $20.73


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Shares of Caleres, Inc. (NYSE:CAL) gapped down prior to trading on Thursday . The stock had previously closed at $20.73, but opened at $20.30. Caleres shares last traded at $20.30, with a volume of 207 shares.

Separately, Zacks Investment Research raised Caleres from a “sell” rating to a “hold” rating in a research note on Monday, March 29th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $15.67.

The company has a market capitalization of $776.42 million, a PE ratio of -2.21 and a beta of 2.47. The company has a 50 day moving average of $18.38 and a two-hundred day moving average of $14.03. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.91 and a quick ratio of 0.38.

Caleres (NYSE:CAL) last released its earnings results on Monday, March 15th. The textile maker reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.13. Caleres had a negative return on equity of 10.93% and a negative net margin of 16.11%. The firm had revenue of $571.00 million for the quarter, compared to analysts’ expectations of $557.36 million. During the same period in the prior year, the firm posted $0.34 earnings per share. The company’s quarterly revenue was down 18.3% on a year-over-year basis. On average, equities analysts anticipate that Caleres, Inc. will post -1.45 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, April 9th. Stockholders of record on Thursday, March 25th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, March 24th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.37%. Caleres’s dividend payout ratio is currently 13.33%.

In other news, CFO Ken Hannah sold 10,000 shares of the company’s stock in a transaction on Thursday, April 1st. The stock was sold at an average price of $21.26, for a total transaction of $212,600.00. Following the transaction, the chief financial officer now directly owns 120,927 shares of the company’s stock, valued at $2,570,908.02. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Diane M. Sullivan sold 31,000 shares of the company’s stock in a transaction on Thursday, April 1st. The shares were sold at an average price of $21.30, for a total value of $660,300.00. Following the transaction, the chief executive officer now directly owns 645,421 shares in the company, valued at $13,747,467.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 87,000 shares of company stock worth $1,689,080. Insiders own 5.60% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its holdings in Caleres by 1.8% in the fourth quarter. Bank of New York Mellon Corp now owns 503,342 shares of the textile maker’s stock valued at $7,878,000 after acquiring an additional 9,007 shares during the period. Victory Capital Management Inc. raised its stake in shares of Caleres by 3.8% in the fourth quarter. Victory Capital Management Inc. now owns 96,600 shares of the textile maker’s stock worth $1,512,000 after buying an additional 3,579 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Caleres by 9.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 930,362 shares of the textile maker’s stock worth $8,895,000 after buying an additional 83,139 shares during the period. Boston Partners raised its stake in shares of Caleres by 151.1% in the fourth quarter. Boston Partners now owns 210,382 shares of the textile maker’s stock worth $3,292,000 after buying an additional 126,613 shares during the period. Finally, SummerHaven Investment Management LLC bought a new position in shares of Caleres in the fourth quarter worth about $891,000. 77.23% of the stock is currently owned by institutional investors.

About Caleres (NYSE:CAL)

Caleres, Inc engages in the retail and wholesale of footwear in the United States, China, Canada, China, and Guam. It operates through Famous Footwear and Brand Portfolio segments. The company offers licensed, branded, and private-label athletic, casual, and dress footwear products to women, men, and children.

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