Caleres, Inc. to Issue Quarterly Dividend of $0.07 (NYSE:CAL)

Caleres, Inc. (NYSE:CAL) announced a quarterly dividend on Thursday, May 28th. Investors of record on Thursday, June 11th will be given a dividend of 0.07 per share by the textile maker on Friday, June 26th. This represents a c) dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Thursday, June 11th.

Caleres has a payout ratio of 8.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Caleres to earn $2.11 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 13.3%.

Caleres Stock Up 1.6%

CAL opened at $14.72 on Friday. Caleres has a 12 month low of $8.80 and a 12 month high of $16.14. The company has a fifty day simple moving average of $12.25 and a 200 day simple moving average of $12.23. The stock has a market cap of $496.65 million, a P/E ratio of -66.91 and a beta of 0.71.

Caleres (NYSE:CAL) last released its quarterly earnings data on Thursday, March 19th. The textile maker reported ($0.36) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.04. Caleres had a negative net margin of 0.24% and a positive return on equity of 6.49%. The business had revenue of $695.06 million during the quarter, compared to analysts’ expectations of $688.43 million. During the same quarter in the prior year, the company earned $0.33 EPS. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. On average, equities research analysts expect that Caleres will post 1.57 earnings per share for the current fiscal year.

Institutional Trading of Caleres

Hedge funds and other institutional investors have recently modified their holdings of the company. Osaic Holdings Inc. raised its stake in shares of Caleres by 1,662.8% in the 2nd quarter. Osaic Holdings Inc. now owns 1,992 shares of the textile maker’s stock valued at $25,000 after purchasing an additional 1,879 shares during the period. Global Retirement Partners LLC acquired a new stake in shares of Caleres in the 4th quarter valued at about $25,000. Quadrant Capital Group LLC raised its stake in shares of Caleres by 1,032.4% in the 4th quarter. Quadrant Capital Group LLC now owns 2,412 shares of the textile maker’s stock valued at $29,000 after purchasing an additional 2,199 shares during the period. State of Wyoming acquired a new stake in shares of Caleres in the 3rd quarter valued at about $56,000. Finally, New York State Common Retirement Fund raised its stake in shares of Caleres by 171.8% in the 3rd quarter. New York State Common Retirement Fund now owns 6,487 shares of the textile maker’s stock valued at $85,000 after purchasing an additional 4,100 shares during the period. Institutional investors and hedge funds own 98.44% of the company’s stock.

About Caleres

Caleres, Inc, formerly known as Brown Shoe Company, is a leading footwear company engaged in the design, sourcing, marketing and selling of a broad portfolio of branded and private-label shoes. The company’s operations span a range of market segments from value-priced to premium and luxury. Caleres operates through two primary segments: a retail segment anchored by the Famous Footwear banner, which includes more than 1,100 stores across North America, and a brand portfolio segment comprising owned and licensed brands such as Allen Edmonds, Naturalizer, Sam Edelman, Dr.