Insider Selling: Caleres, Inc. (NYSE:CAL) CEO Sells 25,332 Shares of Stock

Caleres, Inc. (NYSE:CAL) CEO John W. Schmidt sold 25,332 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $37.63, for a total transaction of $953,243.16. Following the transaction, the chief executive officer now owns 348,771 shares in the company, valued at approximately $13,124,252.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Caleres Price Performance

Shares of CAL traded up $0.94 during midday trading on Wednesday, hitting $39.04. 325,081 shares of the company traded hands, compared to its average volume of 394,853. The stock has a 50-day moving average of $37.76 and a 200-day moving average of $32.98. The firm has a market cap of $1.37 billion, a P/E ratio of 7.92 and a beta of 2.01. Caleres, Inc. has a one year low of $16.85 and a one year high of $41.94.

Caleres (NYSE:CAL) last released its quarterly earnings results on Tuesday, March 19th. The textile maker reported $0.86 EPS for the quarter, meeting analysts’ consensus estimates of $0.86. Caleres had a net margin of 6.10% and a return on equity of 29.77%. The firm had revenue of $697.10 million during the quarter, compared to analyst estimates of $694.32 million. During the same period in the previous year, the business earned $0.65 EPS. The business’s revenue for the quarter was up .1% on a year-over-year basis. Sell-side analysts forecast that Caleres, Inc. will post 4.4 EPS for the current fiscal year.

Caleres Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Thursday, March 28th were paid a $0.07 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.28 dividend on an annualized basis and a yield of 0.72%. Caleres’s dividend payout ratio is presently 5.82%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CAL. Piper Sandler increased their target price on Caleres from $30.00 to $35.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. KeyCorp assumed coverage on shares of Caleres in a research note on Wednesday, February 7th. They issued a “sector weight” rating on the stock. Finally, Loop Capital lifted their price target on shares of Caleres from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Caleres presently has an average rating of “Moderate Buy” and a consensus price target of $40.00.

Hedge Funds Weigh In On Caleres

A number of institutional investors have recently made changes to their positions in the stock. ProShare Advisors LLC bought a new position in Caleres in the first quarter valued at $281,000. Inspire Advisors LLC bought a new stake in Caleres in the 1st quarter worth approximately $259,000. Sei Investments Co. purchased a new stake in Caleres in the first quarter worth approximately $962,000. Swiss National Bank grew its position in Caleres by 5.3% during the first quarter. Swiss National Bank now owns 70,100 shares of the textile maker’s stock valued at $2,876,000 after acquiring an additional 3,500 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Caleres during the first quarter worth approximately $117,000. 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.