Caleres (NYSE:CAL) Shares Up 5.4% – Time to Buy?

Shares of Caleres, Inc. (NYSE:CAL) traded up 5.4% during trading on Friday . The stock traded as high as $16.53 and last traded at $16.36. 935,823 shares changed hands 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 Analysts Forecast Growth

Separately, Loop Capital lowered 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.

Caleres Stock Performance

The firm’s 50 day moving average is $17.02 and its 200-day moving average is $24.15. The stock has a market capitalization of $537.62 million, a price-to-earnings ratio of 3.56 and a beta of 1.42.

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

Caleres Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, March 27th will be issued a $0.07 dividend. 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 currently 9.12%.

Insider Activity

In related news, Director Lori Greeley bought 9,000 shares of the business’s stock in a transaction dated Thursday, March 27th. The stock was acquired at an average price of $17.77 per share, with a total value of $159,930.00. Following the completion of the purchase, the director now directly 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 purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kyle Gendreau purchased 5,000 shares of Caleres stock in a transaction that occurred on Friday, January 17th. The shares were bought at an average price of $19.93 per share, with a total value of $99,650.00. Following the transaction, the director now owns 5,000 shares in the company, valued at approximately $99,650. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Caleres

Several hedge funds and other institutional investors have recently made changes to their positions in CAL. Nokomis Capital L.L.C. acquired a new stake in Caleres during the 4th quarter worth $18,336,000. Voloridge Investment Management LLC acquired a new position in Caleres during the fourth quarter worth about $8,259,000. Invesco Ltd. grew its stake in Caleres by 48.6% during the 4th quarter. Invesco Ltd. now owns 770,518 shares of the textile maker’s stock valued at $17,845,000 after acquiring an additional 252,140 shares in the last quarter. Bridgeway Capital Management LLC raised its holdings in Caleres by 579.9% in the 4th quarter. Bridgeway Capital Management LLC now owns 256,312 shares of the textile maker’s stock valued at $5,936,000 after acquiring an additional 218,611 shares during the last quarter. Finally, FMR LLC lifted its stake in Caleres by 30.1% in the 3rd quarter. FMR LLC now owns 929,968 shares of the textile maker’s stock worth $30,735,000 after purchasing an additional 215,372 shares in the last quarter. Hedge funds and other institutional investors own 98.44% of the company’s stock.

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.