Caleres (CAL) Declares $0.07 Dividend
Caleres said on August 24, 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 September 7, 2023 to qualify for the dividend. Shareholders of record as of September 8, 2023 will receive the payment on September 29, 2023.
At the current share price of $29.82 / share, the stock's dividend yield is 0.94%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.62%, the lowest has been 0.76%, and the highest has been 6.65%. The standard deviation of yields is 1.04 (n=236).
The current dividend yield is 0.66 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.07. 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.
- Read the Ultimate Guide to Dividend Harvesting.
The company has not increased its dividend in the last three years.
What is the Fund Sentiment?
There are 433 funds or institutions reporting positions in Caleres. This is a decrease of 8 owner(s) or 1.81% in the last quarter. Average portfolio weight of all funds dedicated to CAL is 0.08%, a decrease of 7.69%. Total shares owned by institutions increased in the last three months by 0.77% to 36,542K shares. 
The put/call ratio of CAL is 0.55, indicating a bullish outlook.
Analyst Price Forecast Suggests 5.18% Upside
As of August 31, 2023, the average one-year price target for Caleres is 31.36. The forecasts range from a low of 25.25 to a high of $36.75. The average price target represents an increase of 5.18% from its latest reported closing price of 29.82.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Caleres is 3,036MM, an increase of 6.42%. The projected annual non-GAAP EPS is 4.62.
What are Other Shareholders Doing?
T. Rowe Price Investment Management holds 4,345K shares representing 11.98% ownership of the company. In it's prior filing, the firm reported owning 2,464K shares, representing an increase of 43.27%. The firm increased its portfolio allocation in CAL by 85.30% over the last quarter.
Principal Financial Group holds 2,693K shares representing 7.43% ownership of the company. In it's prior filing, the firm reported owning 2,698K shares, representing a decrease of 0.15%. The firm increased its portfolio allocation in CAL by 2.32% over the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 2,559K shares representing 7.05% ownership of the company. In it's prior filing, the firm reported owning 2,597K shares, representing a decrease of 1.52%. The firm increased its portfolio allocation in CAL by 5.54% over the last quarter.
PRSVX - T. Rowe Price Small-Cap Value Fund holds 1,242K shares representing 3.42% ownership of the company. In it's prior filing, the firm reported owning 831K shares, representing an increase of 33.11%. The firm increased its portfolio allocation in CAL by 63.34% over the last quarter.
Boston Partners holds 1,152K shares representing 3.18% ownership of the company. In it's prior filing, the firm reported owning 1,326K shares, representing a decrease of 15.16%. The firm increased its portfolio allocation in CAL by 142.87% 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.
Additional reading:
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- Sixth Amendment to Fourth Amended and Restated Credit Agreement, dated April 27, 2023, among the Company, as lead borrower for itself and on behalf of certain of its subsidiaries, and the financial institutions party thereto, filed herewith.
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