Caleres (NYSE:CAL) Trading Up 5.4% - What's Next?

Caleres, Inc. (NYSE:CAL - Get Free Report)'s share price shot up 5.4% during mid-day trading on Friday . The stock traded as high as $16.53 and last traded at $16.36. 935,823 shares were traded during mid-day trading, an increase of 35% from the average session volume of 691,425 shares. The stock had previously closed at $15.52.

Wall Street Analyst Weigh In

Separately, Loop Capital cut their price target on shares of Caleres from $17.00 to $16.00 and set a "hold" rating on the stock in a report on Friday, April 4th.

Caleres Trading Up 16.1 %

The stock has a 50 day moving average of $16.77 and a 200-day moving average of $23.77. The stock has a market capitalization of $576.45 million, a P/E ratio of 3.82 and a beta of 1.42.

Caleres (NYSE:CAL - Get Free Report) last released its earnings results on Thursday, March 20th. The textile maker reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.06. The business had revenue of $639.20 million during the quarter, compared to the consensus estimate of $645.79 million. Caleres had a return on equity of 22.71% and a net margin of 5.69%. The business's revenue for the quarter was down 8.3% compared to the same quarter last year. During the same period last year, the company earned $0.86 earnings per share. Research analysts anticipate that Caleres, Inc. will post 3.23 EPS for the current year.

Caleres Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, March 27th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.63%. The ex-dividend date is Thursday, March 27th. Caleres's dividend payout ratio is presently 9.12%.

Insider Buying and Selling at Caleres

In other Caleres news, Director Lori Greeley purchased 9,000 shares of the stock in a transaction dated Thursday, March 27th. The stock was purchased at an average price of $17.77 per share, with a total value of $159,930.00. Following the transaction, the director now owns 10,000 shares of the company's stock, valued at approximately $177,700. This trade represents a 900.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kyle Gendreau acquired 5,000 shares of the business's stock in a transaction that occurred on Friday, January 17th. The shares were acquired at an average cost of $19.93 per share, for a total transaction of $99,650.00. Following the completion of the acquisition, the director now owns 5,000 shares of the company's stock, valued at $99,650. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CAL. Vanguard Group Inc. raised its stake in shares of Caleres by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 3,223,343 shares of the textile maker's stock worth $74,653,000 after acquiring an additional 50,041 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Caleres by 8.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,049,895 shares of the textile maker's stock worth $47,475,000 after purchasing an additional 167,326 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Caleres by 3.2% during the third quarter. Principal Financial Group Inc. now owns 1,835,057 shares of the textile maker's stock worth $60,648,000 after purchasing an additional 56,346 shares in the last quarter. State Street Corp lifted its holdings in shares of Caleres by 3.1% during the 3rd quarter. State Street Corp now owns 1,519,912 shares of the textile maker's stock valued at $50,233,000 after purchasing an additional 46,230 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Caleres by 10.1% in the 4th quarter. American Century Companies Inc. now owns 1,148,219 shares of the textile maker's stock worth $26,593,000 after purchasing an additional 105,392 shares in the last quarter. 98.44% of the stock is currently owned by hedge funds and other 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.