Caleres, Inc. (NYSE:CAL) Short Interest Update

Caleres, Inc. (NYSE:CAL) was the recipient of a significant decrease in short interest in the month of June. As of June 15th, there was short interest totalling 3,980,000 shares, a decrease of 6.4% from the May 31st total of 4,250,000 shares. Currently, 11.8% of the company’s shares are sold short. Based on an average daily volume of 538,500 shares, the days-to-cover ratio is presently 7.4 days.

Caleres Trading Up 0.2 %

CAL opened at $32.67 on Thursday. The stock has a fifty day simple moving average of $35.55 and a two-hundred day simple moving average of $35.06. The company has a market cap of $1.15 billion, a price-to-earnings ratio of 6.92 and a beta of 1.91. Caleres has a 12-month low of $23.42 and a 12-month high of $41.94.

Caleres (NYSE:CAL) last posted its quarterly earnings data on Thursday, May 30th. The textile maker reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.02. Caleres had a return on equity of 27.32% and a net margin of 5.97%. The business had revenue of $659.20 million during the quarter, compared to the consensus estimate of $664.80 million. During the same quarter in the prior year, the company earned $0.97 earnings per share. The firm’s quarterly revenue was down .5% compared to the same quarter last year. On average, analysts predict that Caleres will post 4.4 EPS for the current year.

Caleres Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Wednesday, June 5th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, June 5th. This represents a $0.28 annualized dividend and a dividend yield of 0.86%. Caleres’s payout ratio is presently 5.93%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Loop Capital increased their price objective on Caleres from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Piper Sandler increased their price objective on Caleres from $30.00 to $35.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th.

Insider Activity

In related news, CEO John W. Schmidt sold 25,332 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $37.63, for a total value of $953,243.16. Following the completion of the sale, the chief executive officer now owns 348,771 shares of the company’s stock, valued at $13,124,252.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Diane M. Sullivan sold 21,771 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $36.54, for a total value of $795,512.34. Following the completion of the sale, the insider now owns 232,897 shares of the company’s stock, valued at $8,510,056.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John W. Schmidt sold 25,332 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $37.63, for a total value of $953,243.16. Following the completion of the sale, the chief executive officer now directly owns 348,771 shares of the company’s stock, valued at approximately $13,124,252.73. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 100,849 shares of company stock valued at $3,659,716. 3.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Caleres

Institutional investors and hedge funds have recently modified their holdings of the stock. Qube Research & Technologies Ltd bought a new position in shares of Caleres during the third quarter valued at $1,752,000. Pacer Advisors Inc. increased its holdings in shares of Caleres by 87.1% during the fourth quarter. Pacer Advisors Inc. now owns 1,433,509 shares of the textile maker’s stock valued at $44,052,000 after acquiring an additional 667,195 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Caleres by 76.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,086 shares of the textile maker’s stock valued at $279,000 after buying an additional 3,925 shares during the last quarter. Cornercap Investment Counsel Inc. purchased a new stake in shares of Caleres during the fourth quarter valued at $1,032,000. Finally, American Century Companies Inc. boosted its position in shares of Caleres by 55.6% during the third quarter. American Century Companies Inc. now owns 382,557 shares of the textile maker’s stock valued at $11,002,000 after buying an additional 136,705 shares during the last quarter. 98.44% of the stock is currently owned by institutional investors.

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.