Caleres (NYSE:CAL) Stock Price Down 6.9% – What’s Next?

Caleres, Inc. (NYSE:CAL) traded down 6.9% during trading on Friday . The company traded as low as $15.39 and last traded at $15.12. 262,245 shares were traded during mid-day trading, a decline of 72% from the average session volume of 925,877 shares. The stock had previously closed at $16.23.

Analyst Upgrades and Downgrades

Separately, Loop Capital cut their price target on Caleres from $17.00 to $16.00 and set a “hold” rating for the company in a research note on Friday, April 4th.

Caleres Stock Down 3.2 %

The company’s 50-day simple moving average is $16.69 and its 200 day simple moving average is $23.51. The company has a market capitalization of $528.21 million, a P/E ratio of 3.50 and a beta of 1.42.

Caleres (NYSE:CAL) last issued its quarterly earnings data on Thursday, March 20th. The textile maker reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.06. Caleres had a net margin of 5.69% and a return on equity of 22.71%. The firm had revenue of $639.20 million during the quarter, compared to analysts’ expectations of $645.79 million. During the same period in the prior year, the company posted $0.86 earnings per share. Caleres’s revenue for the quarter was down 8.3% on a year-over-year basis. As a group, equities research analysts forecast that Caleres, Inc. will post 3.23 earnings per share for the current year.

Caleres Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, March 27th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date is Thursday, March 27th. Caleres’s dividend payout ratio (DPR) is 9.12%.

Insider Activity

In related news, Director Lori Greeley acquired 9,000 shares of the firm’s stock in a transaction on Thursday, March 27th. The shares were bought at an average cost of $17.77 per share, with a total value of $159,930.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $177,700. This trade represents a 900.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kyle Gendreau bought 5,000 shares of the company’s stock in a transaction dated Friday, January 17th. The stock was bought at an average cost of $19.93 per share, with a total value of $99,650.00. Following the completion of the acquisition, the director now owns 5,000 shares in the company, valued at $99,650. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 3.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Caleres

Large investors have recently made changes to their positions in the company. Versant Capital Management Inc boosted its position in Caleres by 244.0% in the first quarter. Versant Capital Management Inc now owns 1,455 shares of the textile maker’s stock valued at $25,000 after buying an additional 1,032 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Caleres by 254.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,733 shares of the textile maker’s stock worth $40,000 after acquiring an additional 1,244 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in Caleres during the 4th quarter worth approximately $59,000. Lee Danner & Bass Inc. acquired a new stake in Caleres during the 4th quarter valued at $81,000. Finally, Canada Pension Plan Investment Board bought a new position in Caleres in the 4th quarter valued at $86,000. Institutional investors own 98.44% of the company’s stock.

Caleres Company Profile

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.