Caleres (NYSE:CAL) Trading Up 4.4% – Should You Buy?

Caleres, Inc. (NYSE:CAL)’s stock price shot up 4.4% during mid-day trading on Tuesday . The stock traded as high as $33.97 and last traded at $33.97. 209,092 shares were traded during mid-day trading, a decline of 61% from the average session volume of 534,733 shares. The stock had previously closed at $32.54.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Loop Capital decreased their price objective on Caleres from $45.00 to $30.00 and set a “hold” rating on the stock in a report on Friday, September 13th. StockNews.com downgraded shares of Caleres from a “buy” rating to a “hold” rating in a research note on Thursday, October 3rd.

Caleres Price Performance

The business has a 50 day simple moving average of $36.40 and a 200 day simple moving average of $35.89. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 6.89 and a beta of 1.91.

Caleres (NYSE:CAL) last issued its quarterly earnings results on Thursday, September 12th. The textile maker reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.37). The company had revenue of $683.30 million for the quarter, compared to analyst estimates of $723.80 million. Caleres had a return on equity of 24.63% and a net margin of 5.84%. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the company earned $0.98 EPS. As a group, sell-side analysts anticipate that Caleres, Inc. will post 4.04 earnings per share for the current fiscal year.

Caleres Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend was Friday, September 13th. Caleres’s dividend payout ratio is currently 5.93%.

Insider Transactions at Caleres

In other Caleres news, insider Diane M. Sullivan sold 17,068 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $35.45, for a total transaction of $605,060.60. Following the completion of the transaction, the insider now owns 150,449 shares of the company’s stock, valued at $5,333,417.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.80% of the stock is currently owned by insiders.

Institutional Trading of Caleres

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Caleres by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 3,160,116 shares of the textile maker’s stock valued at $129,660,000 after purchasing an additional 26,214 shares during the period. American Century Companies Inc. raised its stake in Caleres by 25.6% in the second quarter. American Century Companies Inc. now owns 901,852 shares of the textile maker’s stock valued at $30,302,000 after purchasing an additional 183,594 shares in the last quarter. Millennium Management LLC lifted its position in Caleres by 58.8% during the second quarter. Millennium Management LLC now owns 221,082 shares of the textile maker’s stock worth $7,428,000 after purchasing an additional 81,836 shares during the period. Great Lakes Advisors LLC grew its stake in Caleres by 69.6% during the second quarter. Great Lakes Advisors LLC now owns 193,841 shares of the textile maker’s stock worth $6,513,000 after buying an additional 79,581 shares in the last quarter. Finally, Empowered Funds LLC increased its stake in Caleres by 8.2% in the first quarter. Empowered Funds LLC now owns 118,182 shares of the textile maker’s stock valued at $4,849,000 after acquiring an additional 8,925 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.