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

Caleres, Inc. (NYSE:CAL) announced a quarterly dividend on Friday, March 14th, RTT News reports. Shareholders of record on Thursday, March 27th will be paid a dividend of 0.07 per share by the textile maker on Friday, April 11th. This represents a $0.28 annualized dividend and a yield of 1.81%.

Caleres has a payout ratio of 7.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Caleres to earn $3.72 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 7.5%.

Caleres Stock Up 1.4 %

Shares of CAL opened at $15.48 on Friday. Caleres has a 52-week low of $15.00 and a 52-week high of $44.51. The firm’s fifty day moving average is $18.11 and its two-hundred day moving average is $26.33. The stock has a market cap of $520.71 million, a PE ratio of 3.45 and a beta of 1.82.

Insiders Place Their Bets

In other news, Director Kyle Gendreau bought 5,000 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The shares were purchased at an average cost of $19.93 per share, for a total transaction of $99,650.00. Following the completion of the purchase, the director now owns 5,000 shares of the company’s stock, valued at approximately $99,650. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.80% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Loop Capital lowered their price target on shares of Caleres from $30.00 to $25.00 and set a “hold” rating on the stock in a research report on Friday, December 6th.

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.