Caleres Inc. (NYSE:CAL) Executive Chair Diane Sullivan has sold 6,856 shares of company stock for a total value of approximately $254,314, according to a recent regulatory filing. The transactions, carried out on April 24, were executed at weighted average prices ranging from $36.79 to $37.615 per share.
Sullivan's stock sale was conducted under a pre-arranged trading plan, known as a Rule 10b5-1 plan, which she adopted on January 19, 2024. These plans allow company insiders to sell shares over a predetermined period of time, to avoid concerns about insider trading.
Following the transaction, Sullivan's direct holdings in Caleres stock amount to 254,668 shares. In addition to her direct ownership, the filing disclosed indirect holdings through a trust and a 401(k) plan, with 110,236 and 10,508 shares respectively.
Caleres Inc., headquartered in St. Louis, Missouri, operates in the footwear industry and is known for its diverse portfolio of brands. The sale by a high-level executive may draw interest from investors who closely monitor insider transactions for insights into company performance and executive confidence.
The details of the sale, including the number of shares sold at each price point within the reported range, will be made available upon request to the company, its shareholders, or the Securities and Exchange Commission staff, as stated in the filing's footnotes.
Investors and followers of Caleres Inc. can expect to receive further information about the company's financial performance and strategic direction during its upcoming earnings reports and shareholder meetings.
InvestingPro Insights
As Caleres Inc. (NYSE:CAL) navigates the dynamic landscape of the footwear industry, real-time data from InvestingPro provides a snapshot of the company's financial health and market performance. With a market capitalization of approximately $1.29 billion and a price-to-earnings (P/E) ratio of 7.65, Caleres presents a potentially attractive valuation for investors. This is underscored by the company's adjusted P/E ratio for the last twelve months as of Q4 2024, which stands close at 7.64.
Investors may be encouraged by Caleres' commitment to shareholder returns, as evidenced by its impressive track record of maintaining dividend payments for 54 consecutive years. Additionally, the company has seen a strong return over the last three months, with a 15.07% price total return, and an even more substantial uptick of 40.58% over the last six months. These metrics suggest a robust short-term performance that could capture investor interest.
On the strategic front, one of the InvestingPro Tips highlights that Caleres is trading at a low earnings multiple, which might indicate that the stock is undervalued relative to its earnings capacity. Moreover, analysts predict that the company will be profitable this year, which aligns with the positive trend in stock price movements. For those looking to delve deeper into Caleres' potential, there are additional InvestingPro Tips available, with a total of 9 tips listed on InvestingPro, which can be accessed at: https://www.investing.com/pro/CAL.
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