Caleres (NYSE:CAL) Trading 5.4% Higher – Time to Buy?

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

Analysts Set New Price Targets

Separately, Loop Capital cut their price objective on Caleres from $17.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday.

Caleres Trading Up 3.1 %

The company has a market capitalization of $537.90 million, a PE ratio of 3.56 and a beta of 1.82. The firm’s 50-day simple moving average is $17.10 and its 200-day simple moving average is $24.32.

Caleres (NYSE:CAL) last announced its quarterly earnings results on Thursday, March 20th. The textile maker reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.06. The firm had revenue of $639.20 million during the quarter, compared to analyst estimates of $645.79 million. Caleres had a return on equity of 22.71% and a net margin of 5.69%. Caleres’s quarterly revenue was down 8.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.86 earnings per share. As a group, analysts anticipate that Caleres, Inc. will post 3.23 EPS for the current year.

Caleres Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, March 27th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.75%. The ex-dividend date is Thursday, March 27th. Caleres’s payout ratio is 9.12%.

Insider Transactions at Caleres

In related news, Director Kyle Gendreau bought 5,000 shares of the business’s stock in a transaction on Friday, January 17th. The shares were bought at an average price of $19.93 per share, for a total transaction of $99,650.00. Following the completion of the purchase, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $99,650. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lori Greeley acquired 9,000 shares of the business’s stock in a transaction dated Thursday, March 27th. The stock was purchased at an average cost of $17.77 per share, for a total transaction of $159,930.00. Following the transaction, the director now owns 10,000 shares in the company, valued at approximately $177,700. The trade was a 900.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Barclays PLC increased its holdings in shares of Caleres by 108.8% during the third quarter. Barclays PLC now owns 55,776 shares of the textile maker’s stock valued at $1,843,000 after acquiring an additional 29,057 shares in the last quarter. FMR LLC increased its stake in Caleres by 30.1% during the 3rd quarter. FMR LLC now owns 929,968 shares of the textile maker’s stock valued at $30,735,000 after purchasing an additional 215,372 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Caleres by 314.6% in the fourth 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 last quarter. Victory Capital Management Inc. lifted its stake in shares of Caleres by 50.8% during the fourth quarter. Victory Capital Management Inc. now owns 115,443 shares of the textile maker’s stock worth $2,674,000 after buying an additional 38,866 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Caleres by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 556,642 shares of the textile maker’s stock valued at $12,892,000 after buying an additional 25,088 shares during the last quarter. 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.