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

Caleres, Inc. (NYSE:CAL) was the target of a significant increase in short interest in March. As of March 15th, there was short interest totalling 4,620,000 shares, an increase of 9.5% from the February 29th total of 4,220,000 shares. Currently, 13.6% of the company’s stock are sold short. Based on an average daily volume of 382,500 shares, the short-interest ratio is currently 12.1 days.

Caleres Price Performance

Caleres stock traded up $0.34 during midday trading on Wednesday, reaching $38.59. The company had a trading volume of 82,254 shares, compared to its average volume of 393,040. The company has a market capitalization of $1.37 billion, a P/E ratio of 7.96 and a beta of 1.99. Caleres has a 12-month low of $16.85 and a 12-month high of $41.94. The firm’s fifty day simple moving average is $36.78 and its 200-day simple moving average is $31.37.

Caleres (NYSE:CAL) last announced its quarterly earnings results on Tuesday, March 19th. The textile maker reported $0.86 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.86. The business had revenue of $697.10 million during the quarter, compared to the consensus estimate of $694.32 million. Caleres had a net margin of 6.10% and a return on equity of 29.77%. The business’s revenue was up .1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.65 EPS. On average, analysts expect that Caleres will post 4.43 EPS for the current fiscal year.

Caleres Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Thursday, March 28th will be issued a dividend of $0.07 per share. The ex-dividend date is Wednesday, March 27th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.73%. Caleres’s dividend payout ratio is currently 5.82%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CAL shares. Piper Sandler increased their target price 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 target price 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. Finally, KeyCorp started coverage on shares of Caleres in a research note on Wednesday, February 7th. They set a “sector weight” rating on the stock. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Caleres currently has an average rating of “Moderate Buy” and a consensus target price of $40.00.

Insider Transactions at Caleres

In related news, insider Willis Hill sold 1,650 shares of the company’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $30.07, for a total value of $49,615.50. Following the transaction, the insider now directly owns 59,214 shares of the company’s stock, valued at approximately $1,780,564.98. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Caleres news, insider Willis Hill sold 1,650 shares of the stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $30.07, for a total transaction of $49,615.50. Following the sale, the insider now directly owns 59,214 shares of the company’s stock, valued at approximately $1,780,564.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John W. Schmidt sold 12,668 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $33.29, for a total value of $421,717.72. Following the sale, the chief executive officer now directly owns 360,995 shares in the company, valued at $12,017,523.55. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,318 shares of company stock valued at $1,834,002. Corporate insiders own 4.90% of the company’s stock.

Institutional Trading of Caleres

Hedge funds and other institutional investors have recently made changes to their positions in the company. Moneta Group Investment Advisors LLC increased its holdings in Caleres by 108,172.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 32,231,553 shares of the textile maker’s stock valued at $718,119,000 after purchasing an additional 32,201,784 shares during the last quarter. Pacer Advisors Inc. increased its holdings in Caleres by 87.1% in the 4th quarter. Pacer Advisors Inc. now owns 1,433,509 shares of the textile maker’s stock valued at $44,052,000 after purchasing an additional 667,195 shares during the last quarter. Marshall Wace LLP increased its holdings in Caleres by 1,043.1% in the 4th quarter. Marshall Wace LLP now owns 320,880 shares of the textile maker’s stock valued at $7,149,000 after purchasing an additional 292,808 shares during the last quarter. Wellington Management Group LLP increased its holdings in Caleres by 162.9% in the 1st quarter. Wellington Management Group LLP now owns 361,770 shares of the textile maker’s stock valued at $7,825,000 after purchasing an additional 224,170 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Caleres by 92.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 451,231 shares of the textile maker’s stock valued at $8,722,000 after purchasing an additional 217,055 shares during the last quarter. Institutional investors and hedge funds 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, 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.