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

Caleres, Inc. (NYSE:CAL) insider Daniel Freidman sold 11,207 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $15.00, for a total transaction of $168,105.00. Following the completion of the transaction, the insider owned 64,780 shares of the company’s stock, valued at $971,700. This trade represents a 14.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Caleres Stock Performance

Shares of NYSE:CAL opened at $14.23 on Tuesday. Caleres, Inc. has a 52-week low of $8.80 and a 52-week high of $16.14. The firm has a fifty day moving average of $12.44 and a 200 day moving average of $12.27. The firm has a market capitalization of $480.12 million, a PE ratio of -64.68 and a beta of 0.74.

Caleres (NYSE:CAL) last announced its earnings results 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 company had revenue of $695.06 million during the quarter, compared to analyst estimates of $688.43 million. Caleres had a negative net margin of 0.24% and a positive return on equity of 6.49%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.33 earnings per share. On average, sell-side analysts forecast that Caleres, Inc. will post 1.57 EPS for the current fiscal year.

Caleres Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on CAL. Seaport Research Partners boosted their price target on shares of Caleres from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, March 19th. Zacks Research raised shares of Caleres from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 21st. Finally, Weiss Ratings raised shares of Caleres from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

Hedge Funds Weigh In On Caleres

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