Caleres, Inc. (CAL) to Issue Quarterly Dividend of $0.07 on June 29th

Caleres, Inc. (NYSE:CAL – Get Rating) declared a quarterly dividend on Thursday, May 26th, Zacks reports. Shareholders of record on Friday, June 10th will be paid a dividend of 0.07 per share by the textile maker on Wednesday, June 29th. This represents a $0.28 dividend on an annualized basis 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%.

Shares of CAL stock opened at $29.63 on Friday. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of 8.35 and a beta of 2.09. Caleres has a fifty-two week low of $17.82 and a fifty-two week high of $29.94. The firm’s 50 day moving average price is $22.47 and its two-hundred day moving average price is $22.72.

Caleres (NYSE:CAL – Get Rating) last posted its earnings results on Tuesday, May 24th. The textile maker reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.49. Caleres had a net margin of 4.93% and a return on equity of 61.12%. The business had revenue of $735.12 million for the quarter, compared to analysts’ expectations of $677.28 million. During the same period in the previous year, the company posted $0.60 earnings per share. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. On average, research analysts anticipate that Caleres will post 3.88 earnings per share for the current fiscal year.

Several research firms have recently commented on CAL. TheStreet upgraded shares of Caleres from a “c+” rating to a “b-” rating in a research report on Tuesday. Zacks Investment Research upgraded shares of Caleres from a “hold” rating to a “strong-buy” rating and set a $31.00 price target for the company in a research report on Thursday. Telsey Advisory Group upped their price objective on shares of Caleres to $32.00 in a report on Wednesday. Finally, StockNews.com raised shares of Caleres from a “buy” rating to a “strong-buy” rating in a report on Monday, April 11th. Two equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Caleres currently has a consensus rating of “Strong Buy” and a consensus target price of $33.00.

In related news, CEO Diane M. Sullivan sold 35,915 shares of the stock in a transaction that occurred on Tuesday, May 17th. The stock was sold at an average price of $25.18, for a total value of $904,339.70. Following the transaction, the chief executive officer now owns 621,446 shares in the company, valued at $15,648,010.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Carla C. Hendra sold 3,261 shares of the stock in a transaction that occurred on Thursday, March 17th. The stock was sold at an average price of $20.74, for a total value of $67,633.14. The disclosure for this sale can be found here. Insiders sold a total of 45,176 shares of company stock worth $1,131,633 in the last quarter. 4.90% of the stock is owned by corporate insiders.

Hedge funds have recently made changes to their positions in the business. Barclays PLC boosted its position in shares of Caleres by 1.6% in the fourth quarter. Barclays PLC now owns 44,747 shares of the textile maker’s stock valued at $1,015,000 after acquiring an additional 725 shares during the period. California State Teachers Retirement System boosted its position in shares of Caleres by 2.0% in the fourth quarter. California State Teachers Retirement System now owns 52,223 shares of the textile maker’s stock valued at $1,184,000 after acquiring an additional 1,036 shares during the period. Captrust Financial Advisors boosted its position in shares of Caleres by 30.4% in the first quarter. Captrust Financial Advisors now owns 5,467 shares of the textile maker’s stock valued at $106,000 after acquiring an additional 1,275 shares during the period. UBS Group AG boosted its position in shares of Caleres by 1.4% in the third quarter. UBS Group AG now owns 118,748 shares of the textile maker’s stock valued at $2,639,000 after acquiring an additional 1,627 shares during the period. Finally, Citigroup Inc. boosted its position in shares of Caleres by 6.3% in the first quarter. Citigroup Inc. now owns 36,560 shares of the textile maker’s stock valued at $706,000 after acquiring an additional 2,172 shares during the period. Institutional investors own 81.45% of the company’s stock.

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.

Featured Stories