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

Caleres, Inc. (NYSE:CAL) shares gapped up prior to trading on Tuesday after an insider bought additional shares in the company. 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 changing hands.

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

Analysts Set New Price Targets

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

Caleres Stock Up 0.7 %

The company’s fifty day simple moving average is $17.19 and its two-hundred day simple moving average is $24.38. The company has a market capitalization of $599.61 million, a price-to-earnings ratio of 3.97 and a beta of 1.82.

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

Caleres Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders 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 yield of 1.57%. Caleres’s dividend payout ratio (DPR) is currently 9.12%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Barclays PLC raised 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 acquiring an additional 29,057 shares during the period. FMR LLC increased its holdings in Caleres by 30.1% during the 3rd quarter. FMR LLC now owns 929,968 shares of the textile maker’s stock worth $30,735,000 after purchasing an additional 215,372 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Caleres by 314.6% in the 4th quarter. Empowered Funds LLC now owns 156,312 shares of the textile maker’s stock valued at $3,620,000 after purchasing an additional 118,611 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Caleres by 50.8% in the fourth quarter. Victory Capital Management Inc. now owns 115,443 shares of the textile maker’s stock valued at $2,674,000 after purchasing an additional 38,866 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Caleres by 3.6% in the third quarter. Geode Capital Management LLC now owns 792,057 shares of the textile maker’s stock valued at $26,183,000 after purchasing an additional 27,291 shares in the last quarter. 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.