Caleres (CAL) Declares $0.07 Dividend

Caleres said on March 9, 2023 that its board of directors declared a regular quarterly dividend of $0.07 per share ($0.28 annualized). Previously, the company paid $0.07 per share.

Shares must be purchased before the ex-div date of March 22, 2023 to qualify for the dividend. Shareholders of record as of March 23, 2023 will receive the payment on April 6, 2023.

At the current share price of $23.93 / share, the stock's dividend yield is 1.17%. Looking back five years and taking a sample every week, the average dividend yield has been 1.58%, the lowest has been 0.76%, and the highest has been 6.65%. The standard deviation of yields is 1.06 (n=236).

The current dividend yield is 0.39 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.06. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company has not increased its dividend in the last three years.

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Analyst Price Forecast Suggests 53.45% Upside

As of March 10, 2023, the average one-year price target for Caleres is $36.72. The forecasts range from a low of $32.32 to a high of $42.00. The average price target represents an increase of 53.45% from its latest reported closing price of $23.93.

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The projected annual revenue for Caleres is $2,975MM, an increase of 0.81%. The projected annual non-GAAP EPS is $4.39.

What is the Fund Sentiment?

There are 468 funds or institutions reporting positions in Caleres. This is a decrease of 18 owner(s) or 3.70% in the last quarter. Average portfolio weight of all funds dedicated to CAL is 0.09%, a decrease of 21.46%. Total shares owned by institutions increased in the last three months by 0.74% to 35,987K shares. The put/call ratio of CAL is 0.85, indicating a bullish outlook.

What are Large Shareholders Doing?

IJR - iShares Core S&P Small-Cap ETF holds 2,702K shares representing 7.59% ownership of the company. In it's prior filing, the firm reported owning 2,689K shares, representing an increase of 0.49%. The firm decreased its portfolio allocation in CAL by 15.90% over the last quarter.

Principal Financial Group holds 2,533K shares representing 7.11% ownership of the company. In it's prior filing, the firm reported owning 2,665K shares, representing a decrease of 5.21%. The firm decreased its portfolio allocation in CAL by 55.15% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,067K shares representing 3.00% ownership of the company. No change in the last quarter.

Paradigm Capital Management holds 1,040K shares representing 2.92% ownership of the company. In it's prior filing, the firm reported owning 891K shares, representing an increase of 14.36%. The firm decreased its portfolio allocation in CAL by 43.52% over the last quarter.

Cooper Creek Partners Management holds 993K shares representing 2.79% ownership of the company. In it's prior filing, the firm reported owning 450K shares, representing an increase of 54.65%. The firm increased its portfolio allocation in CAL by 60.64% over the last quarter.

Caleres Background Information
(This description is provided by the company.)

Caleres is the home of today's most coveted footwear brands and represents a diverse portfolio spanning all of life's styles and experiences. Every shoe tells a story and Caleres has the perfect fit for every one of them. Our collections have been developed and acquired to meet the evolving needs of today's assorted and growing global audiences, with consumer insights driving every aspect of the innovation, design, and craft that go into our distinctly positioned brands, including Famous Footwear, Sam Edelman, Naturalizer, Allen Edmonds, Vionic, Dr. Scholl's Shoes, and more. The Caleres story is most simply defined by the company's mission: Inspire people to feel great…feet first.

This story originally appeared on Fintel.