Caleres (NYSE:CAL) Share Price Crosses Above 200-Day Moving Average of $24.09

Caleres, Inc. (NYSE:CAL)’s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $24.09 and traded as high as $27.98. Caleres shares last traded at $27.29, with a volume of 2,209,161 shares.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CAL. TheStreet raised Caleres from a “c+” rating to a “b” rating in a research report on Thursday, June 1st. Piper Sandler downgraded shares of Caleres from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $35.00 to $25.00 in a research report on Thursday, May 25th. Finally, StockNews.com upgraded shares of Caleres from a “hold” rating to a “buy” rating in a report on Friday, September 1st.

Caleres Trading Down 2.8 %

The stock has a market cap of $969.89 million, a PE ratio of 6.61 and a beta of 1.84. The firm has a fifty day simple moving average of $26.68 and a two-hundred day simple moving average of $24.09.

Caleres (NYSE:CAL) last announced its quarterly earnings data on Thursday, August 31st. The textile maker reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.10. Caleres had a return on equity of 30.93% and a net margin of 5.23%. The firm had revenue of $695.50 million for the quarter, compared to analysts’ expectations of $704.85 million. During the same period last year, the firm earned $1.38 earnings per share. The company’s revenue for the quarter was down 5.8% compared to the same quarter last year. Equities analysts forecast that Caleres, Inc. will post 4.13 earnings per share for the current year.

Caleres Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.03%. The ex-dividend date is Thursday, September 7th. Caleres’s dividend payout ratio (DPR) is currently 6.78%.

Insiders Place Their Bets

In other news, insider Daniel R. Freidman sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $28.00, for a total value of $140,000.00. Following the sale, the insider now directly owns 76,311 shares of the company’s stock, valued at approximately $2,136,708. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Daniel R. Freidman sold 5,000 shares of the stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $28.00, for a total transaction of $140,000.00. Following the sale, the insider now directly owns 76,311 shares of the company’s stock, valued at $2,136,708. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Douglas Koch sold 12,350 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $27.93, for a total transaction of $344,935.50. Following the transaction, the senior vice president now directly owns 62,649 shares of the company’s stock, valued at $1,749,786.57. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,150 shares of company stock worth $828,336. Company insiders own 5.40% of the company’s stock.

Institutional Trading of Caleres

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Teachers Retirement System of The State of Kentucky boosted its stake in Caleres by 5.5% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 12,318 shares of the textile maker’s stock valued at $294,000 after buying an additional 644 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Caleres by 55.6% during the second quarter. Wells Fargo & Company MN now owns 18,336 shares of the textile maker’s stock valued at $439,000 after buying an additional 6,550 shares during the period. State of Tennessee Treasury Department raised its stake in Caleres by 45.2% in the second quarter. State of Tennessee Treasury Department now owns 29,135 shares of the textile maker’s stock worth $697,000 after buying an additional 9,072 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Caleres by 10.9% during the second quarter. Goldman Sachs Group Inc. now owns 314,670 shares of the textile maker’s stock valued at $7,530,000 after buying an additional 30,902 shares during the last quarter. Finally, State of Wyoming purchased a new position in Caleres during the 2nd quarter worth $29,000. 88.44% of the stock is owned by hedge funds and other institutional investors.

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.