Caleres, Inc. (NYSE:CAL) Sees Large Increase in Short Interest

Caleres, Inc. (NYSE:CAL) was the recipient of a large increase in short interest in the month of July. As of July 15th, there was short interest totalling 3,900,000 shares, an increase of 9.2% from the June 30th total of 3,570,000 shares. Based on an average daily volume of 569,300 shares, the days-to-cover ratio is currently 6.9 days. Approximately 11.6% of the company’s shares are sold short.

Caleres Price Performance

Shares of CAL stock traded up $0.75 during trading hours on Tuesday, hitting $37.81. The company had a trading volume of 164,634 shares, compared to its average volume of 479,781. The company’s fifty day moving average is $34.41 and its 200 day moving average is $35.56. Caleres has a fifty-two week low of $23.79 and a fifty-two week high of $41.94. The stock has a market capitalization of $1.33 billion, a PE ratio of 7.85 and a beta of 1.91.

Caleres (NYSE:CAL) last posted its quarterly earnings results on Thursday, May 30th. The textile maker reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.02. Caleres had a return on equity of 27.32% and a net margin of 5.97%. The company had revenue of $659.20 million for the quarter, compared to analyst estimates of $664.80 million. During the same quarter last year, the company earned $0.97 EPS. Caleres’s revenue for the quarter was down .5% compared to the same quarter last year. Equities analysts forecast that Caleres will post 4.4 earnings per share for the current year.

Caleres Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Wednesday, June 5th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, June 5th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.74%. Caleres’s dividend payout ratio (DPR) is presently 5.93%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Caleres from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 24th.

Insider Transactions at Caleres

In other news, Director Carla C. Hendra sold 5,349 shares of Caleres stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $33.07, for a total transaction of $176,891.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Diane M. Sullivan sold 17,068 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $35.45, for a total transaction of $605,060.60. Following the sale, the insider now owns 150,449 shares in the company, valued at $5,333,417.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Carla C. Hendra sold 5,349 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $33.07, for a total value of $176,891.43. The disclosure for this sale can be found here. In the last 90 days, insiders sold 89,284 shares of company stock worth $3,195,964. 3.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Caleres

A number of large investors have recently added to or reduced their stakes in the business. Capstone Investment Advisors LLC acquired a new stake in shares of Caleres during the first quarter worth $1,641,000. LSV Asset Management grew its holdings in Caleres by 792.6% during the 1st quarter. LSV Asset Management now owns 67,100 shares of the textile maker’s stock worth $2,753,000 after acquiring an additional 59,583 shares in the last quarter. Sei Investments Co. bought a new stake in Caleres in the first quarter valued at about $962,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Caleres by 76.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,086 shares of the textile maker’s stock valued at $279,000 after acquiring an additional 3,925 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. acquired a new stake in shares of Caleres during the fourth quarter worth $1,032,000. 98.44% of the stock is owned by institutional investors and hedge funds.

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.