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

Caleres, Inc. (NYSE:CAL) was the target of a significant decline in short interest during the month of June. As of June 15th, there was short interest totalling 3,980,000 shares, a decline of 6.4% from the May 31st total of 4,250,000 shares. Approximately 11.8% of the company’s shares are sold short. Based on an average daily volume of 538,500 shares, the short-interest ratio is currently 7.4 days.

Analysts Set New Price Targets

A number of research firms recently issued reports on CAL. Piper Sandler increased their price target on shares of Caleres from $30.00 to $35.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 20th. Loop Capital increased their price target on shares of Caleres from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th.

Caleres Price Performance

CAL stock traded up $0.07 during trading on Wednesday, reaching $32.67. The company had a trading volume of 190,182 shares, compared to its average volume of 470,612. The company has a market cap of $1.15 billion, a P/E ratio of 6.90 and a beta of 1.91. Caleres has a 52 week low of $23.42 and a 52 week high of $41.94. The business has a 50 day moving average of $35.63 and a 200 day moving average of $35.08.

Caleres (NYSE:CAL) last announced its quarterly earnings data on Thursday, May 30th. The textile maker reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.02. The business had revenue of $659.20 million for the quarter, compared to analysts’ expectations of $664.80 million. Caleres had a net margin of 5.97% and a return on equity of 27.32%. The business’s revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.97 earnings per share. Research analysts expect that Caleres will post 4.4 earnings per share for the current year.

Caleres Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Wednesday, June 5th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date was Wednesday, June 5th. Caleres’s dividend payout ratio (DPR) is presently 5.93%.

Insiders Place Their Bets

In other Caleres news, CEO John W. Schmidt sold 25,332 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $37.63, for a total value of $953,243.16. Following the completion of the sale, the chief executive officer now directly owns 348,771 shares of the company’s stock, valued at $13,124,252.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Diane M. Sullivan sold 12,126 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $35.99, for a total transaction of $436,414.74. Following the completion of the transaction, the insider now directly owns 286,023 shares of the company’s stock, valued at $10,293,967.77. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO John W. Schmidt sold 25,332 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $37.63, for a total transaction of $953,243.16. Following the transaction, the chief executive officer now directly owns 348,771 shares of the company’s stock, valued at $13,124,252.73. The disclosure for this sale can be found here. Insiders sold 100,849 shares of company stock valued at $3,659,716 over the last three months. Insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Caleres

Hedge funds and other institutional investors have recently bought and sold shares of the business. Qube Research & Technologies Ltd purchased a new stake in Caleres in the third quarter worth about $1,752,000. Pacer Advisors Inc. grew its holdings in shares of Caleres by 87.1% during the fourth quarter. Pacer Advisors Inc. now owns 1,433,509 shares of the textile maker’s stock valued at $44,052,000 after buying an additional 667,195 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Caleres by 76.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,086 shares of the textile maker’s stock valued at $279,000 after buying an additional 3,925 shares during the last quarter. Cornercap Investment Counsel Inc. purchased a new stake in shares of Caleres during the fourth quarter valued at approximately $1,032,000. Finally, American Century Companies Inc. grew its holdings in shares of Caleres by 55.6% during the third quarter. American Century Companies Inc. now owns 382,557 shares of the textile maker’s stock valued at $11,002,000 after buying an additional 136,705 shares during 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.