Caleres (NYSE:CAL) Releases Earnings Results, Beats Estimates By $0.01 EPS

Caleres (NYSE:CAL – Get Rating) issued its quarterly earnings results on Tuesday. The textile maker reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.01, Yahoo Finance reports. Caleres had a net margin of 5.92% and a return on equity of 48.52%. The company had revenue of $696.40 million for the quarter, compared to analyst estimates of $691.56 million. During the same quarter in the previous year, the business earned $0.91 earnings per share. Caleres’s revenue was up 2.5% compared to the same quarter last year.

Caleres Price Performance

Shares of NYSE CAL traded down $0.50 during mid-day trading on Thursday, reaching $22.97. 155,231 shares of the company’s stock traded hands, compared to its average volume of 681,551. The stock has a market cap of $818.19 million, a P/E ratio of 5.04 and a beta of 1.75. The business has a 50-day simple moving average of $24.68 and a 200 day simple moving average of $24.64. Caleres has a 1-year low of $18.98 and a 1-year high of $31.13.

Caleres Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 6th. Stockholders of record on Thursday, March 23rd will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Wednesday, March 22nd. Caleres’s dividend payout ratio is currently 6.01%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CAL shares. CL King decreased their price target on shares of Caleres from $37.00 to $35.00 in a research note on Thursday, November 17th. Piper Sandler raised shares of Caleres from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $26.00 to $35.00 in a research note on Tuesday, February 21st. Finally, StockNews.com downgraded shares of Caleres from a “buy” rating to a “hold” rating in a research note on Wednesday.

Insider Activity

In related news, insider Diane M. Sullivan sold 19,900 shares of the business’s stock in a transaction dated Thursday, February 2nd. The shares were sold at an average price of $26.99, for a total transaction of $537,101.00. Following the transaction, the insider now directly owns 125,291 shares in the company, valued at $3,381,604.09. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Diane M. Sullivan sold 19,900 shares of the business’s stock in a transaction dated Thursday, February 2nd. The shares were sold at an average price of $26.99, for a total transaction of $537,101.00. Following the transaction, the insider now directly owns 125,291 shares in the company, valued at $3,381,604.09. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Diane M. Sullivan sold 1,500 shares of the business’s stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $26.20, for a total transaction of $39,300.00. Following the transaction, the insider now owns 111,516 shares in the company, valued at $2,921,719.20. The disclosure for this sale can be found here. Insiders sold 24,580 shares of company stock worth $659,476 over the last three months. 4.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans boosted its stake in Caleres by 1.8% in the third quarter. Thrivent Financial for Lutherans now owns 37,977 shares of the textile maker’s stock valued at $920,000 after acquiring an additional 673 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Caleres by 2.3% in the second quarter. JPMorgan Chase & Co. now owns 34,937 shares of the textile maker’s stock valued at $917,000 after acquiring an additional 773 shares during the last quarter. Deutsche Bank AG boosted its stake in Caleres by 2.9% in the fourth quarter. Deutsche Bank AG now owns 27,831 shares of the textile maker’s stock valued at $620,000 after acquiring an additional 784 shares during the last quarter. Bank of America Corp DE boosted its stake in Caleres by 1.0% in the first quarter. Bank of America Corp DE now owns 82,094 shares of the textile maker’s stock valued at $1,586,000 after acquiring an additional 829 shares during the last quarter. Finally, Legal & General Group Plc raised its position in shares of Caleres by 1.4% in the fourth quarter. Legal & General Group Plc now owns 88,884 shares of the textile maker’s stock valued at $1,980,000 after purchasing an additional 1,222 shares during the period. 87.46% of the stock is currently owned by hedge funds and other institutional investors.

About Caleres

(Get Rating)

Caleres, Inc engages in the retail and wholesale of footwear. It operates through the following segments: Famous Footwear, Brand Portfolio, and Other. The Famous Footwear segment provides brand-name athletic, casual, and dress shoes for the entire family. The Brand Portfolio segment offers retailers and consumers a portfolio of brands by designing, developing, sourcing, manufacturing, and marketing branded footwear for women and men.