Insider Selling: Caleres, Inc. (NYSE:CAL) Insider Sells $436,414.74 in Stock

Caleres, Inc. (NYSE:CAL) insider Diane M. Sullivan sold 12,126 shares of the firm’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $35.99, for a total value of $436,414.74. Following the transaction, the insider now owns 286,023 shares of the company’s stock, valued at $10,293,967.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Caleres Stock Performance

Shares of NYSE:CAL opened at $36.94 on Friday. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 7.68 and a beta of 1.99. The stock’s 50-day simple moving average is $37.71 and its two-hundred day simple moving average is $32.45. Caleres, Inc. has a 52-week low of $16.85 and a 52-week high of $41.94.

Caleres (NYSE:CAL) last announced its earnings results on Tuesday, March 19th. The textile maker reported $0.86 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.86. The business had revenue of $697.10 million for the quarter, compared to analysts’ expectations of $694.32 million. Caleres had a return on equity of 29.77% and a net margin of 6.10%. The business’s revenue for the quarter was up .1% on a year-over-year basis. During the same period last year, the firm posted $0.65 earnings per share. As a group, equities analysts forecast that Caleres, Inc. will post 4.37 earnings per share for the current fiscal year.

Caleres Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Thursday, March 28th were given a $0.07 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.28 annualized dividend and a yield of 0.76%. Caleres’s payout ratio is 5.82%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Qube Research & Technologies Ltd purchased a new position in shares of Caleres during the 3rd quarter valued at about $1,752,000. Pacer Advisors Inc. lifted its position in shares of Caleres by 87.1% during the 4th quarter. Pacer Advisors Inc. now owns 1,433,509 shares of the textile maker’s stock valued at $44,052,000 after buying an additional 667,195 shares in the last quarter. Cornercap Investment Counsel Inc. purchased a new position in shares of Caleres during the 4th quarter valued at about $1,032,000. Charles Schwab Investment Management Inc. lifted its position in shares of Caleres by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 502,144 shares of the textile maker’s stock valued at $14,442,000 after buying an additional 5,785 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Caleres by 55.6% during the 3rd quarter. American Century Companies Inc. now owns 382,557 shares of the textile maker’s stock valued at $11,002,000 after buying an additional 136,705 shares in the last quarter. 98.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CAL has been the subject of several analyst reports. KeyCorp initiated coverage on Caleres in a report on Wednesday, February 7th. They set a “sector weight” rating for the company. Loop Capital raised their price target on Caleres from $40.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Finally, Piper Sandler raised their price target on Caleres from $30.00 to $35.00 and gave the company a “neutral” rating in a report on Wednesday, March 20th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Caleres presently has a consensus rating of “Moderate Buy” and an average price target of $40.00.

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.