Caleres, Inc. (NYSE:CAL) Short Interest Update

Caleres, Inc. (NYSE:CAL) was the recipient of a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 4,620,000 shares, a growth of 9.5% from the February 29th total of 4,220,000 shares. Based on an average daily volume of 382,500 shares, the short-interest ratio is presently 12.1 days. Approximately 13.6% of the shares of the stock are sold short.

Caleres Stock Performance

Shares of Caleres stock traded up $0.34 during trading on Wednesday, reaching $38.59. The company’s stock had a trading volume of 82,254 shares, compared to its average volume of 393,040. Caleres has a one year low of $16.85 and a one year high of $41.94. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 7.96 and a beta of 1.99. The business’s fifty day moving average price is $36.78 and its 200-day moving average price is $31.37.

Caleres (NYSE:CAL) last released its earnings results on Tuesday, March 19th. The textile maker reported $0.86 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.86. Caleres had a return on equity of 29.77% and a net margin of 6.10%. The business had revenue of $697.10 million for the quarter, compared to the consensus estimate of $694.32 million. During the same period last year, the business earned $0.65 earnings per share. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. Sell-side analysts anticipate that Caleres will post 4.43 EPS for the current year.

Caleres Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Thursday, March 28th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date is Wednesday, March 27th. Caleres’s payout ratio is 5.82%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. KeyCorp assumed coverage on shares of Caleres in a research report on Wednesday, February 7th. They set a “sector weight” rating on the stock. Piper Sandler increased their target price on shares of Caleres from $30.00 to $35.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. Finally, Loop Capital increased their target price on shares of Caleres from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Caleres presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.00.

Insiders Place Their Bets

In other news, CEO John W. Schmidt sold 25,332 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $38.71, for a total transaction of $980,601.72. Following the completion of the sale, the chief executive officer now owns 335,663 shares in the company, valued at approximately $12,993,514.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Willis Hill sold 1,650 shares of the company’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $30.07, for a total value of $49,615.50. Following the transaction, the insider now directly owns 59,214 shares of the company’s stock, valued at $1,780,564.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John W. Schmidt sold 25,332 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $38.71, for a total transaction of $980,601.72. Following the completion of the transaction, the chief executive officer now directly owns 335,663 shares in the company, valued at $12,993,514.73. The disclosure for this sale can be found here. Insiders sold 52,318 shares of company stock worth $1,834,002 over the last ninety days. Company insiders own 4.90% of the company’s stock.

Institutional Investors Weigh In On Caleres

A number of institutional investors have recently added to or reduced their stakes in CAL. Moneta Group Investment Advisors LLC boosted its holdings in shares of Caleres by 108,172.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 32,231,553 shares of the textile maker’s stock worth $718,119,000 after acquiring an additional 32,201,784 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Caleres by 87.1% in the 4th quarter. Pacer Advisors Inc. now owns 1,433,509 shares of the textile maker’s stock worth $44,052,000 after acquiring an additional 667,195 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of Caleres by 1,043.1% in the 4th quarter. Marshall Wace LLP now owns 320,880 shares of the textile maker’s stock worth $7,149,000 after acquiring an additional 292,808 shares in the last quarter. Wellington Management Group LLP raised its position in Caleres by 162.9% in the 1st quarter. Wellington Management Group LLP now owns 361,770 shares of the textile maker’s stock worth $7,825,000 after purchasing an additional 224,170 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in Caleres by 92.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 451,231 shares of the textile maker’s stock worth $8,722,000 after purchasing an additional 217,055 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, Eastern 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.