Insider Selling: Caleres (NYSE:CAL) Insider Sells 11,207 Shares of Stock

Caleres, Inc. (NYSE:CAL) insider Daniel Freidman sold 11,207 shares of the firm’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $15.00, for a total transaction of $168,105.00. Following the completion of the sale, the insider owned 64,780 shares of the company’s stock, valued at approximately $971,700. The trade was a 14.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Caleres Stock Down 3.1%

Shares of Caleres stock traded down $0.45 during trading on Monday, hitting $14.11. 342,951 shares of the company were exchanged, compared to its average volume of 634,414. Caleres, Inc. has a fifty-two week low of $8.80 and a fifty-two week high of $16.14. The stock has a market capitalization of $476.07 million, a price-to-earnings ratio of -64.13 and a beta of 0.74. The firm has a 50 day moving average price of $12.37 and a 200 day moving average price of $12.25.

Caleres (NYSE:CAL) last issued its quarterly earnings data on Thursday, March 19th. The textile maker reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.04. The firm had revenue of $695.06 million during the quarter, compared to the consensus estimate of $688.43 million. Caleres had a positive return on equity of 6.49% and a negative net margin of 0.24%.The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.33 EPS. Analysts predict that Caleres, Inc. will post 1.57 earnings per share for the current year.

Caleres Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Thursday, June 11th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, June 11th. This represents a $0.28 annualized dividend and a dividend yield of 2.0%. Caleres’s payout ratio is currently -127.27%.

Analyst Ratings Changes

A number of analysts recently weighed in on CAL shares. Seaport Research Partners upped their price target on shares of Caleres from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, March 19th. Zacks Research raised shares of Caleres from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 21st. Finally, Weiss Ratings raised shares of Caleres from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

Institutional Investors Weigh In On Caleres

A number of institutional investors have recently modified their holdings of the stock. Royal Bank of Canada raised its stake in Caleres by 181.7% during the first quarter. Royal Bank of Canada now owns 12,047 shares of the textile maker’s stock worth $127,000 after acquiring an additional 7,771 shares during the period. Polar Asset Management Partners Inc. grew its stake in Caleres by 8.1% in the 1st quarter. Polar Asset Management Partners Inc. now owns 97,600 shares of the textile maker’s stock valued at $1,029,000 after buying an additional 7,300 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Caleres by 21.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,474,671 shares of the textile maker’s stock worth $15,543,000 after acquiring an additional 262,576 shares during the period. Sei Investments Co. lifted its holdings in Caleres by 13.2% during the 1st quarter. Sei Investments Co. now owns 20,783 shares of the textile maker’s stock valued at $219,000 after purchasing an additional 2,425 shares during the last quarter. Finally, First Trust Advisors LP increased its position in Caleres by 16.5% in the 1st quarter. First Trust Advisors LP now owns 15,989 shares of the textile maker’s stock valued at $169,000 after acquiring an additional 2,261 shares in the last quarter. Institutional investors and hedge funds own 98.44% of the company’s stock.

About Caleres

Caleres, Inc, formerly known as Brown Shoe Company, is a leading footwear company engaged in the design, sourcing, marketing and selling of a broad portfolio of branded and private-label shoes. The company’s operations span a range of market segments from value-priced to premium and luxury. Caleres operates through two primary segments: a retail segment anchored by the Famous Footwear banner, which includes more than 1,100 stores across North America, and a brand portfolio segment comprising owned and licensed brands such as Allen Edmonds, Naturalizer, Sam Edelman, Dr.