Caleres Inc (NYSE:CAL) Chief Sourcing Officer Daniel R. Freidman recently sold 15,000 shares of company stock, totaling approximately $555,000. The transactions were carried out on April 8, 2024, with the shares sold at a price of $37.00 each.
This sale was conducted in accordance with a Rule 10b5-1 trading plan, which Freidman had adopted on December 7, 2023. Rule 10b5-1 plans allow company insiders to establish pre-planned transactions at a time when they are not in possession of material non-public information. This enables insiders to gradually diversify their investment portfolios, reducing the market impact and avoiding accusations of insider trading.
Following the sale, Freidman's direct holdings in Caleres Inc amount to 64,167 shares. In addition to his direct holdings, Freidman has an indirect stake through a 401(k) plan, which includes 6,767 shares of common stock.
Caleres Inc, headquartered in St. Louis, Missouri, is known for its production of footwear and operates under a variety of brand names. The company, formerly known as Brown Shoe Co. Inc., has a long-standing presence in the industry and continues to maintain a significant market share.
Investors and market watchers often keep a close eye on insider transactions as they can provide insights into an executive's confidence in the company's future performance. However, such sales can also be part of normal portfolio management and estate planning activities, and should not necessarily be taken as a direct indicator of the company's operational performance.
The details of these transactions are publicly disclosed as per the requirements set by the Securities and Exchange Commission for insiders of publicly-traded companies.
InvestingPro Insights
As Caleres Inc (NYSE:CAL) navigates the market, recent insider transactions have caught the attention of investors. With Chief Sourcing Officer Daniel R. Freidman's sale of 15,000 shares, it's valuable to consider the company's financial health and stock performance to gain a broader understanding of what these insider activities might suggest.
According to InvestingPro data, Caleres Inc boasts a market capitalization of $1.26 billion and is trading at an attractive earnings multiple with a P/E ratio of just 7.45. This indicates that the stock may be undervalued compared to earnings, which can be appealing to value investors. Additionally, the company has experienced a significant price uptick, with a 6-month total return of 33.3% and a 1-year total return of 70.56%, showcasing strong recent performance.
InvestingPro Tips for Caleres Inc highlight the high shareholder yield and the fact that analysts predict the company will be profitable this year, which aligns with its performance over the last twelve months. These insights suggest that despite a slight decrease in revenue growth, as indicated by a -5.08% change in the last twelve months as of Q4 2024, the company's profitability and shareholder returns remain robust.
For investors seeking more in-depth analysis and additional insights, InvestingPro offers a range of tips on Caleres Inc, including details on earnings revisions and stock price volatility. There are a total of 9 additional InvestingPro Tips available, which can be accessed through the InvestingPro platform. Interested readers can use the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription, enhancing their investment research with valuable data and expert analysis.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.