Caleres (NYSE:CAL) Trading Up 15.4% – Still a Buy?

Shares of Caleres, Inc. (NYSE:CAL) rose 15.4% during trading on Monday . The stock traded as high as $18.27 and last traded at $17.39. Approximately 159,286 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 894,368 shares. The stock had previously closed at $15.07.

Analysts Set New Price Targets

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

Caleres Trading Up 15.9%

The company has a market cap of $587.20 million, a PE ratio of 3.88 and a beta of 1.11. The company’s 50 day moving average is $16.04 and its 200 day moving average is $20.98.

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 for the quarter, compared to the consensus estimate of $645.79 million. During the same quarter in the previous year, the firm earned $0.86 EPS. The company’s quarterly revenue was down 8.3% compared to the same quarter last year. Analysts expect that Caleres, Inc. will post 3.23 EPS for the current year.

Caleres Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Thursday, March 27th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date was Thursday, March 27th. Caleres’s dividend payout ratio (DPR) is presently 9.12%.

Insider Buying and Selling

In related news, Director Lori Greeley purchased 9,000 shares of the business’s stock in a transaction that occurred on Thursday, March 27th. The stock was bought at an average price of $17.77 per share, with a total value of $159,930.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at $177,700. The trade was a 900.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Caleres

Several institutional investors and hedge funds have recently added to or reduced their stakes in CAL. Barclays PLC grew its holdings in shares of Caleres by 108.8% during the third quarter. Barclays PLC now owns 55,776 shares of the textile maker’s stock worth $1,843,000 after buying an additional 29,057 shares in the last quarter. Franklin Resources Inc. lifted its position in Caleres by 1.7% in the third quarter. Franklin Resources Inc. now owns 27,905 shares of the textile maker’s stock valued at $908,000 after buying an additional 479 shares during the last quarter. Principal Financial Group Inc. lifted its position in Caleres by 3.2% in the third quarter. Principal Financial Group Inc. now owns 1,835,057 shares of the textile maker’s stock valued at $60,648,000 after buying an additional 56,346 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Caleres by 42.2% in the third quarter. JPMorgan Chase & Co. now owns 418,722 shares of the textile maker’s stock valued at $13,839,000 after buying an additional 124,266 shares during the last quarter. Finally, Golden State Wealth Management LLC acquired a new position in Caleres in the fourth quarter valued at about $59,000. Hedge funds and other institutional investors own 98.44% of the company’s stock.

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.