Caleres, Inc. (NYSE:CAL – Get Rating) declared a quarterly dividend on Thursday, May 26th, Zacks reports. Investors of record on Friday, June 10th will be given a dividend of 0.07 per share by the textile maker on Wednesday, June 29th. This represents a $0.28 annualized dividend and a yield of 0.94%. The ex-dividend date is Thursday, June 9th.
Caleres has a dividend payout ratio of 6.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Caleres to earn $4.16 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 6.7%.
NYSE:CAL opened at $29.63 on Friday. The firm has a market capitalization of $1.13 billion, a PE ratio of 8.35 and a beta of 2.09. The business’s fifty day moving average price is $22.47 and its 200 day moving average price is $22.72. Caleres has a 12 month low of $17.82 and a 12 month high of $29.94.
In other news, CEO Diane M. Sullivan sold 35,915 shares of the firm’s stock in a transaction that occurred on Tuesday, May 17th. The shares were sold at an average price of $25.18, for a total transaction of $904,339.70. Following the completion of the transaction, the chief executive officer now directly owns 621,446 shares of the company’s stock, valued at approximately $15,648,010.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Todd E. Hasty acquired 2,500 shares of the company’s stock in a transaction dated Thursday, March 17th. The shares were acquired at an average cost of $21.00 per share, with a total value of $52,500.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 45,176 shares of company stock valued at $1,131,633. Insiders own 4.90% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of CAL. Captrust Financial Advisors increased its stake in shares of Caleres by 30.4% during the 1st quarter. Captrust Financial Advisors now owns 5,467 shares of the textile maker’s stock worth $106,000 after purchasing an additional 1,275 shares in the last quarter. Point72 Hong Kong Ltd grew its stake in Caleres by 523.5% in the 1st quarter. Point72 Hong Kong Ltd now owns 9,191 shares of the textile maker’s stock worth $178,000 after acquiring an additional 7,717 shares during the period. Hsbc Holdings PLC purchased a new stake in Caleres in the 1st quarter worth approximately $255,000. Prelude Capital Management LLC purchased a new stake in Caleres in the 1st quarter worth approximately $355,000. Finally, Renaissance Technologies LLC purchased a new stake in Caleres in the 1st quarter worth approximately $363,000. 81.45% of the stock is owned by institutional investors and hedge funds.
CAL has been the subject of several recent research reports. Zacks Investment Research upgraded shares of Caleres from a “hold” rating to a “strong-buy” rating and set a $31.00 target price for the company in a research note on Thursday. Telsey Advisory Group increased their target price on shares of Caleres to $32.00 in a research note on Wednesday. StockNews.com upgraded shares of Caleres from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 11th. Finally, TheStreet upgraded shares of Caleres from a “c+” rating to a “b-” rating in a research report on Tuesday. Two analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Caleres presently has an average rating of “Strong Buy” and a consensus target price of $33.00.
About Caleres (Get Rating)
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.
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