Caleres (NYSE:CAL – Get Rating) issued an update on its FY23 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $4.20-4.40 for the period, compared to the consensus earnings per share estimate of $4.34. The company issued revenue guidance of $2.89-2.94 billion, compared to the consensus revenue estimate of $2.91 billion.
Caleres Trading Down 1.6 %
CAL traded down $0.47 during trading on Tuesday, reaching $29.79. 1,056,356 shares of the company were exchanged, compared to its average volume of 678,723. The stock has a market cap of $1.09 billion, a P/E ratio of 6.32 and a beta of 1.88. The firm has a 50 day moving average of $27.18 and a 200 day moving average of $24.28. Caleres has a 52 week low of $17.82 and a 52 week high of $31.13.
Caleres (NYSE:CAL – Get Rating) last announced its quarterly earnings results on Tuesday, May 24th. The textile maker reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.50. Caleres had a return on equity of 62.60% and a net margin of 6.31%. The company had revenue of $735.12 million during the quarter, compared to analyst estimates of $677.28 million. During the same quarter in the previous year, the firm posted $0.60 EPS. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. As a group, analysts forecast that Caleres will post 4.32 earnings per share for the current fiscal year.
Caleres Announces Dividend
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The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 29th. Shareholders of record on Friday, June 10th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, June 9th. This represents a $0.28 dividend on an annualized basis and a yield of 0.94%. Caleres’s dividend payout ratio (DPR) is presently 5.94%.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on CAL. TheStreet upgraded Caleres from a c+ rating to a b- rating in a report on Tuesday, May 24th. Telsey Advisory Group upped their price objective on Caleres to $32.00 in a report on Wednesday, May 25th. StockNews.com downgraded Caleres from a strong-buy rating to a buy rating in a report on Thursday, July 7th. Finally, Seaport Res Ptn reaffirmed a buy rating on shares of Caleres in a report on Friday, June 24th.
Insider Activity at Caleres
In other news, CEO Diane M. Sullivan sold 1,201 shares of the stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $30.02, for a total transaction of $36,054.02. Following the transaction, the chief executive officer now owns 513,701 shares of the company’s stock, valued at approximately $15,421,304.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Diane M. Sullivan sold 35,915 shares of the firm’s stock in a transaction that occurred on Monday, June 13th. The stock was sold at an average price of $27.27, for a total transaction of $979,402.05. Following the completion of the transaction, the chief executive officer now owns 585,531 shares in the company, valued at approximately $15,967,430.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Diane M. Sullivan sold 1,201 shares of the firm’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $30.02, for a total value of $36,054.02. Following the transaction, the chief executive officer now owns 513,701 shares of the company’s stock, valued at approximately $15,421,304.02. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 96,163 shares of company stock valued at $2,747,109. Company insiders own 4.90% of the company’s stock.
Institutional Investors Weigh In On Caleres
Several hedge funds and other institutional investors have recently made changes to their positions in CAL. Arrowstreet Capital Limited Partnership increased its stake in shares of 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 buying an additional 217,055 shares during the period. Vanguard Group Inc. increased its stake in shares of Caleres by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 3,840,810 shares of the textile maker’s stock valued at $74,243,000 after buying an additional 171,567 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Caleres by 25.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 696,668 shares of the textile maker’s stock worth $13,466,000 after purchasing an additional 140,453 shares during the last quarter. First Manhattan Co. boosted its position in shares of Caleres by 62.5% in the 1st quarter. First Manhattan Co. now owns 319,852 shares of the textile maker’s stock worth $6,182,000 after purchasing an additional 123,000 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its position in shares of Caleres by 221.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 160,419 shares of the textile maker’s stock worth $4,209,000 after purchasing an additional 110,458 shares during the last quarter. 81.45% of the stock is owned by institutional investors and hedge funds.
Caleres Company Profile
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.
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