Caleres, Inc. (NYSE:CAL – Get Rating) was the recipient of a significant growth in short interest in the month of November. As of November 30th, there was short interest totalling 2,200,000 shares, a growth of 7.8% from the November 15th total of 2,040,000 shares. Currently, 6.5% of the shares of the company are sold short. Based on an average daily volume of 550,200 shares, the days-to-cover ratio is currently 4.0 days.
Caleres Price Performance
Shares of NYSE CAL traded down $0.55 during trading hours on Friday, reaching $19.62. The stock had a trading volume of 1,479,384 shares, compared to its average volume of 661,049. The business’s fifty day moving average is $25.08 and its two-hundred day moving average is $26.11. The company has a market cap of $698.79 million, a price-to-earnings ratio of 4.21 and a beta of 1.69. Caleres has a twelve month low of $17.82 and a twelve month high of $31.13.
Caleres (NYSE:CAL – Get Rating) last issued its earnings results on Tuesday, November 22nd. The textile maker reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.03. The business had revenue of $798.26 million during the quarter, compared to analyst estimates of $784.94 million. Caleres had a return on equity of 48.52% and a net margin of 5.92%. Sell-side analysts forecast that Caleres will post 4.36 earnings per share for the current fiscal year.
Caleres Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 6th. Shareholders of record on Thursday, December 22nd will be paid a dividend of $0.07 per share. The ex-dividend date is Wednesday, December 21st. This represents a $0.28 annualized dividend and a yield of 1.43%. Caleres’s dividend payout ratio is currently 6.01%.
Insiders Place Their Bets
In other Caleres news, CEO Diane M. Sullivan sold 6,500 shares of the company’s stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $27.52, for a total transaction of $178,880.00. Following the completion of the sale, the chief executive officer now owns 208,736 shares of the company’s stock, valued at $5,744,414.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Caleres news, CEO Diane M. Sullivan sold 3,300 shares of the company’s stock in a transaction that occurred on Thursday, November 10th. The stock was sold at an average price of $27.26, for a total transaction of $89,958.00. Following the completion of the sale, the chief executive officer now owns 176,936 shares of the company’s stock, valued at $4,823,275.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Diane M. Sullivan sold 6,500 shares of the company’s stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $27.52, for a total value of $178,880.00. Following the sale, the chief executive officer now directly owns 208,736 shares of the company’s stock, valued at approximately $5,744,414.72. The disclosure for this sale can be found here. Insiders sold 25,520 shares of company stock valued at $692,710 over the last 90 days. 4.90% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of the stock. Robeco Institutional Asset Management B.V. acquired a new position in Caleres during the third quarter worth $519,000. Teachers Retirement System of The State of Kentucky acquired a new position in Caleres during the third quarter worth $283,000. Balyasny Asset Management LLC raised its stake in Caleres by 8.0% during the third quarter. Balyasny Asset Management LLC now owns 520,545 shares of the textile maker’s stock worth $12,608,000 after acquiring an additional 38,540 shares in the last quarter. BNP Paribas Arbitrage SNC raised its stake in Caleres by 59.8% during the third quarter. BNP Paribas Arbitrage SNC now owns 16,140 shares of the textile maker’s stock worth $391,000 after acquiring an additional 6,043 shares in the last quarter. Finally, Neuberger Berman Group LLC raised its stake in Caleres by 4.3% during the third quarter. Neuberger Berman Group LLC now owns 878,135 shares of the textile maker’s stock worth $21,302,000 after acquiring an additional 35,937 shares in the last quarter. 86.70% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research analysts have recently commented on the company. StockNews.com upgraded Caleres from a “hold” rating to a “buy” rating in a report on Thursday. CL King cut their price target on Caleres from $37.00 to $35.00 in a report on Thursday, November 17th. Piper Sandler assumed coverage on Caleres in a report on Tuesday, October 25th. They set a “neutral” rating and a $28.00 price target for the company. Finally, TheStreet lowered Caleres from a “b-” rating to a “c” rating in a report on Friday, August 26th.
About Caleres
Caleres, Inc engages in the retail and wholesale of footwear in the United States, Canada, China, and Guam. It operates through Famous Footwear and Brand Portfolio segments. The company offers licensed, branded, and private-label athletic, casual, and dress footwear products to women, men, and children.