Caleres (CAL) Trading 0% Higher After Strong Earnings
Caleres Inc (NYSE:CAL) shares traded up 0% during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $34.20 and last traded at $32.17. 1,590,000 shares changed hands during trading, an increase of 432% from the average session volume of 298,624 shares. The stock had previously closed at $32.17.
The textile maker reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.04. Caleres had a net margin of 2.21% and a return on equity of 13.59%. The company had revenue of $702.50 million for the quarter, compared to analysts’ expectations of $695.61 million. During the same period last year, the company earned $0.33 EPS. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Monday, March 19th will be given a $0.07 dividend. The ex-dividend date is Friday, March 16th. This represents a $0.28 annualized dividend and a dividend yield of 0.87%. Caleres’s dividend payout ratio is presently 13.93%.
In related news, insider Daniel R. Freidman sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $28.45, for a total value of $284,500.00. Following the transaction, the insider now owns 79,435 shares in the company, valued at $2,259,925.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Diane M. Sullivan sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 26th. The shares were sold at an average price of $34.00, for a total transaction of $510,000.00. Following the completion of the transaction, the chief executive officer now owns 609,578 shares in the company, valued at approximately $20,725,652. The disclosure for this sale can be found here. Insiders sold 40,000 shares of company stock worth $1,294,350 over the last three months. Corporate insiders own 6.20% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mosaic Family Wealth LLC purchased a new position in Caleres in the fourth quarter valued at approximately $140,000. Xact Kapitalforvaltning AB purchased a new position in Caleres in the fourth quarter valued at approximately $201,000. Amalgamated Bank purchased a new position in Caleres in the fourth quarter valued at approximately $204,000. Quantitative Systematic Strategies LLC purchased a new position in Caleres in the fourth quarter valued at approximately $234,000. Finally, Cubist Systematic Strategies LLC raised its holdings in Caleres by 440.0% in the third quarter. Cubist Systematic Strategies LLC now owns 10,362 shares of the textile maker’s stock valued at $316,000 after buying an additional 8,443 shares during the period. Hedge funds and other institutional investors own 89.68% of the company’s stock.
The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.49 and a current ratio of 1.93. The stock has a market cap of $1,380.00, a price-to-earnings ratio of 16.00, a P/E/G ratio of 1.05 and a beta of 1.07.
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Caleres, Inc is a global footwear retailer and wholesaler. The Company is engaged in the operation of retail shoe stores and e-commerce Websites, as well as the design, sourcing and marketing of footwear for women and men. The Company operates through two segments: Famous Footwear and Brand Portfolio.
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