Caleres (NYSE:CAL) Shares Gap Up Following Insider Buying Activity

Shares of Caleres, Inc. (NYSE:CAL) gapped up before the market opened on Tuesday following insider buying activity. The stock had previously closed at $17.23, but opened at $17.73. Caleres shares last traded at $17.70, with a volume of 106,009 shares trading hands.

Specifically, Director Lori Greeley purchased 9,000 shares of Caleres stock in a transaction that occurred on Thursday, March 27th. The shares were bought at an average price of $17.77 per share, for a total transaction of $159,930.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $177,700. This represents a 900.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Analysts Set New Price Targets

Separately, Loop Capital lowered their price objective on shares of Caleres from $30.00 to $25.00 and set a “hold” rating for the company in a report on Friday, December 6th.

Caleres Price Performance

The company has a 50 day moving average of $17.23 and a two-hundred day moving average of $24.43. The company has a market capitalization of $595.17 million, a PE ratio of 3.94 and a beta of 1.82.

Caleres (NYSE:CAL) last issued its quarterly earnings results on Thursday, March 20th. The textile maker reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.06. Caleres had a net margin of 5.69% and a return on equity of 22.71%. The company had revenue of $639.20 million during the quarter, compared to analyst estimates of $645.79 million. During the same period last year, the business earned $0.86 EPS. Caleres’s quarterly revenue was down 8.3% compared to the same quarter last year. On average, equities analysts anticipate that Caleres, Inc. will post 3.23 EPS for the current year.

Caleres Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, March 27th will be issued a dividend of $0.07 per share. The ex-dividend date is Thursday, March 27th. This represents a $0.28 annualized dividend and a dividend yield of 1.58%. Caleres’s payout ratio is presently 9.12%.

Hedge Funds Weigh In On Caleres

Several large investors have recently modified their holdings of CAL. Intech Investment Management LLC bought a new stake in Caleres during the 3rd quarter valued at about $472,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Caleres by 1.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 531,554 shares of the textile maker’s stock valued at $17,568,000 after buying an additional 8,421 shares during the last quarter. FMR LLC grew its holdings in shares of Caleres by 30.1% during the third quarter. FMR LLC now owns 929,968 shares of the textile maker’s stock valued at $30,735,000 after buying an additional 215,372 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Caleres in the 3rd quarter worth approximately $972,000. Finally, Public Sector Pension Investment Board lifted its position in Caleres by 2.5% in the 3rd quarter. Public Sector Pension Investment Board now owns 74,539 shares of the textile maker’s stock valued at $2,464,000 after acquiring an additional 1,800 shares in the last quarter. Hedge funds and other 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.