Caleres (NYSE:CAL) Stock Price Up 9.3% - Still a Buy?

Caleres, Inc. (NYSE:CAL - Get Free Report) was up 9.3% during mid-day trading on Tuesday . The stock traded as high as $15.22 and last traded at $15.28. Approximately 375,760 shares traded hands during mid-day trading, a decline of 54% from the average daily volume of 824,557 shares. The stock had previously closed at $13.98.

Wall Street Analyst Weigh In

Separately, Loop Capital dropped their price objective on Caleres from $16.00 to $14.00 and set a "hold" rating for the company in a report on Friday, May 30th.

Caleres Stock Up 1.4%

The stock has a market cap of $519.68 million, a price-to-earnings ratio of 6.41 and a beta of 1.03. The company's 50-day simple moving average is $14.06 and its 200-day simple moving average is $15.99.

Caleres (NYSE:CAL - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The textile maker reported $0.22 earnings per share for the quarter, missing analysts' consensus estimates of $0.37 by ($0.15). Caleres had a return on equity of 14.94% and a net margin of 3.11%. The company had revenue of $614.22 million during the quarter, compared to analysts' expectations of $622.93 million. During the same period in the prior year, the business posted $0.88 EPS. The company's revenue for the quarter was down 6.8% compared to the same quarter last year. As a group, analysts expect that Caleres, Inc. will post 3.23 EPS for the current fiscal year.

Caleres Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Thursday, June 5th were issued a $0.07 dividend. The ex-dividend date was Thursday, June 5th. This represents a $0.28 annualized dividend and a yield of 1.82%. Caleres's dividend payout ratio (DPR) is currently 11.67%.

Institutional Investors Weigh In On Caleres

A number of institutional investors have recently bought and sold shares of the business. Nokomis Capital L.L.C. bought a new position in shares of Caleres during the fourth quarter worth $18,336,000. Invenomic Capital Management LP acquired a new position in Caleres in the first quarter valued at about $11,596,000. Wellington Management Group LLP acquired a new position in shares of Caleres during the 1st quarter worth $6,642,000. Voloridge Investment Management LLC acquired a new stake in Caleres in the fourth quarter valued at approximately $8,259,000. Finally, Invesco Ltd. grew its holdings in Caleres by 48.6% during the 4th quarter. Invesco Ltd. now owns 770,518 shares of the textile maker's stock worth $17,845,000 after acquiring an additional 252,140 shares during the last quarter. Institutional investors and hedge funds 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.