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

Caleres, Inc. (NYSE:CAL) gapped up before the market opened 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 traded.

Specifically, Director Lori Greeley purchased 9,000 shares of the firm’s 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 acquisition, the director now owns 10,000 shares of the company’s stock, valued at approximately $177,700. This represents a 900.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Wall Street Analysts Forecast Growth

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

Caleres Stock Up 2.2 %

The stock has a market cap of $592.21 million, a P/E ratio of 3.94 and a beta of 1.82. The business has a 50 day moving average price of $17.27 and a 200 day moving average price of $24.53.

Caleres (NYSE:CAL) last announced its quarterly earnings data on Thursday, March 20th. The textile maker reported $0.33 EPS for the quarter, beating 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 company had revenue of $639.20 million for the quarter, compared to the consensus estimate of $645.79 million. During the same quarter in the prior year, the company posted $0.86 EPS. Caleres’s quarterly revenue was down 8.3% on a year-over-year basis. On average, research analysts expect that Caleres, Inc. will post 3.23 earnings per share for the current fiscal year.

Caleres Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, March 27th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend is Thursday, March 27th. Caleres’s dividend payout ratio (DPR) is presently 9.12%.

Institutional Investors Weigh In On Caleres

A number of institutional investors and hedge funds have recently bought and sold shares of CAL. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Caleres during the fourth quarter worth about $1,616,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Caleres by 31.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 100,962 shares of the textile maker’s stock worth $2,338,000 after purchasing an additional 24,316 shares in the last quarter. Voloridge Investment Management LLC purchased a new stake in Caleres during the 4th quarter worth approximately $8,259,000. Vident Advisory LLC increased its stake in Caleres by 32.6% during the 4th quarter. Vident Advisory LLC now owns 15,918 shares of the textile maker’s stock valued at $369,000 after purchasing an additional 3,912 shares in the last quarter. Finally, Tidal Investments LLC purchased a new position in shares of Caleres in the fourth quarter worth $406,000. 98.44% of the stock is owned by institutional investors.

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.