Caleres (NYSE:CAL) Trading Up 15.4% - Here's What Happened

Caleres, Inc. (NYSE:CAL - Get Free Report) rose 15.4% during trading on Monday . The company traded as high as $18.27 and last traded at $17.39. Approximately 159,286 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 894,368 shares. The stock had previously closed at $15.07.

Wall Street Analyst Weigh In

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

Caleres Stock Performance

The firm has a market cap of $598.29 million, a price-to-earnings ratio of 3.96 and a beta of 1.11. The business has a 50 day simple moving average of $16.12 and a 200-day simple moving average of $20.60.

Caleres (NYSE:CAL - Get Free Report) last posted its quarterly 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 company 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 firm's quarterly revenue was down 8.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.86 EPS. As a group, research analysts anticipate that Caleres, Inc. will post 3.23 earnings per share for the current year.

Caleres Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Thursday, March 27th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, March 27th. This represents a $0.28 dividend on an annualized basis and a yield of 1.57%. Caleres's payout ratio is 9.12%.

Insider Buying and Selling

In related news, Director Lori Greeley acquired 9,000 shares of the stock in a transaction on Thursday, March 27th. The stock was acquired at an average cost of $17.77 per share, for a total transaction of $159,930.00. Following the completion of the acquisition, the director now directly owns 10,000 shares of the company's stock, valued at approximately $177,700. This represents a 900.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Caleres

A number of hedge funds and other institutional investors have recently bought and sold shares of CAL. Barclays PLC raised its position in Caleres by 108.8% in the 3rd quarter. Barclays PLC now owns 55,776 shares of the textile maker's stock worth $1,843,000 after buying an additional 29,057 shares during the last quarter. Empowered Funds LLC boosted its holdings in Caleres by 314.6% in the 4th quarter. Empowered Funds LLC now owns 156,312 shares of the textile maker's stock worth $3,620,000 after buying an additional 118,611 shares during the period. Invesco Ltd. grew its position in shares of Caleres by 48.6% during the fourth quarter. Invesco Ltd. now owns 770,518 shares of the textile maker's stock worth $17,845,000 after purchasing an additional 252,140 shares in the last quarter. Vanguard Group Inc. increased its holdings in Caleres by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 3,223,343 shares of the textile maker's stock valued at $74,653,000 after acquiring an additional 50,041 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Caleres by 50.8% during the 4th quarter. Victory Capital Management Inc. now owns 115,443 shares of the textile maker's stock worth $2,674,000 after acquiring an additional 38,866 shares in the last quarter. Hedge funds and other 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.