Caleres, Inc. (NYSE:CAL) Plans $0.07 Quarterly Dividend

Caleres, Inc. (NYSE:CALGet Free Report) declared a quarterly dividend on Thursday, May 23rd, NASDAQ reports. Shareholders of record on Wednesday, June 5th will be given a dividend of 0.07 per share by the textile maker on Thursday, June 20th. This represents a $0.28 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend is Wednesday, June 5th.

Caleres has a payout ratio of 5.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Caleres to earn $4.92 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 5.7%.

Caleres Stock Performance

NYSE:CAL traded up $1.44 during mid-day trading on Friday, hitting $37.60. The stock had a trading volume of 495,561 shares, compared to its average volume of 398,104. Caleres has a twelve month low of $16.85 and a twelve month high of $41.94. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of 7.82 and a beta of 2.01. The company’s 50 day simple moving average is $37.63 and its 200 day simple moving average is $33.85.

Caleres (NYSE:CALGet Free Report) last issued its quarterly earnings data on Tuesday, March 19th. The textile maker reported $0.86 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.86. Caleres had a net margin of 6.10% and a return on equity of 29.77%. The firm had revenue of $697.10 million during the quarter, compared to the consensus estimate of $694.32 million. During the same period last year, the business posted $0.65 earnings per share. The business’s revenue for the quarter was up .1% compared to the same quarter last year. As a group, equities analysts forecast that Caleres will post 4.4 earnings per share for the current year.

Insider Buying and Selling at Caleres

In related news, SVP Mark A. Schmitt sold 18,373 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $41.01, for a total transaction of $753,476.73. Following the transaction, the senior vice president now owns 50,847 shares in the company, valued at $2,085,235.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO John W. Schmidt sold 25,332 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $38.71, for a total value of $980,601.72. Following the transaction, the chief executive officer now owns 335,663 shares in the company, valued at $12,993,514.73. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Mark A. Schmitt sold 18,373 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $41.01, for a total transaction of $753,476.73. Following the completion of the transaction, the senior vice president now owns 50,847 shares in the company, valued at approximately $2,085,235.47. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 124,790 shares of company stock worth $4,728,538. 3.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CAL. Piper Sandler boosted their target price on shares of Caleres from $30.00 to $35.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 20th. KeyCorp began coverage on shares of Caleres in a report on Wednesday, February 7th. They issued a “sector weight” rating on the stock. Finally, Loop Capital upped their price objective on shares of Caleres from $40.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $40.00.

Check Out Our Latest Stock Analysis on CAL

About Caleres

(Get Free Report)

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.

See Also

Dividend History for Caleres (NYSE:CAL)

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