Caleres (NYSE:CAL) Issues Earnings Results, Beats Expectations By $0.01 EPS

Caleres (NYSE:CAL – Get Rating) issued its quarterly earnings data on Tuesday. The textile maker reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.01, Yahoo Finance reports. The company had revenue of $696.40 million for the quarter, compared to the consensus estimate of $691.56 million. Caleres had a return on equity of 48.52% and a net margin of 5.92%. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.91 earnings per share.

Caleres Stock Down 0.5 %

Shares of NYSE:CAL opened at $23.35 on Friday. Caleres has a 52-week low of $18.98 and a 52-week high of $31.13. The stock has a market cap of $831.63 million, a price-to-earnings ratio of 4.76 and a beta of 1.75. The business has a 50-day moving average price of $24.71 and a 200-day moving average price of $24.63.

Caleres Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 6th. Stockholders of record on Thursday, March 23rd will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.20%. The ex-dividend date is Wednesday, March 22nd. Caleres’s payout ratio is 5.70%.

Insider Transactions at Caleres

In other news, insider Diane M. Sullivan sold 19,900 shares of the firm’s stock in a transaction dated Thursday, February 2nd. The stock was sold at an average price of $26.99, for a total value of $537,101.00. Following the completion of the transaction, the insider now directly owns 125,291 shares in the company, valued at $3,381,604.09. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Diane M. Sullivan sold 19,900 shares of the firm’s stock in a transaction dated Thursday, February 2nd. The stock was sold at an average price of $26.99, for a total value of $537,101.00. Following the completion of the transaction, the insider now directly owns 125,291 shares in the company, valued at $3,381,604.09. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Diane M. Sullivan sold 1,500 shares of the firm’s stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $26.20, for a total value of $39,300.00. Following the completion of the transaction, the insider now owns 111,516 shares of the company’s stock, valued at $2,921,719.20. The disclosure for this sale can be found here. Insiders sold a total of 24,580 shares of company stock worth $659,476 over the last three months. 4.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CAL. Captrust Financial Advisors raised its position in Caleres by 30.4% during the first quarter. Captrust Financial Advisors now owns 5,467 shares of the textile maker’s stock valued at $106,000 after acquiring an additional 1,275 shares in the last quarter. Point72 Middle East FZE purchased a new position in Caleres during the fourth quarter valued at approximately $143,000. Point72 Hong Kong Ltd raised its position in Caleres by 523.5% during the first quarter. Point72 Hong Kong Ltd now owns 9,191 shares of the textile maker’s stock valued at $178,000 after acquiring an additional 7,717 shares in the last quarter. Hsbc Holdings PLC purchased a new position in Caleres during the first quarter valued at approximately $255,000. Finally, Twinbeech Capital LP purchased a new position in Caleres during the third quarter valued at approximately $268,000. 87.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Piper Sandler raised Caleres from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $26.00 to $35.00 in a report on Tuesday, February 21st. CL King lowered their price target on Caleres from $37.00 to $35.00 in a report on Thursday, November 17th. Finally, StockNews.com downgraded Caleres from a “buy” rating to a “hold” rating in a report on Wednesday.

Caleres Company Profile

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Caleres, Inc engages in the retail and wholesale of footwear. It operates through the following segments: Famous Footwear, Brand Portfolio, and Other. The Famous Footwear segment provides brand-name athletic, casual, and dress shoes for the entire family. The Brand Portfolio segment offers retailers and consumers a portfolio of brands by designing, developing, sourcing, manufacturing, and marketing branded footwear for women and men.