Caleres Inc (NYSE:CAL), a renowned name in the footwear industry, has reported a significant transaction involving one of its top executives. Mark A. Schmitt, the company's Senior Vice President and Chief Logistics Officer, sold 18,373 shares of common stock on March 25, 2024, at a price of $41.0089 per share. This sale resulted in a total transaction value of approximately $753,456.
The transaction was disclosed in a regulatory filing with the Securities and Exchange Commission (SEC). Following the sale, Schmitt's direct holdings in Caleres Inc stock stood at 50,847 shares. Additionally, he has an indirect holding of 2,730 shares through a 401(k) Plan.
The sale by a high-ranking official such as the SVP and Chief Logistics Officer may be of interest to current and potential investors as it reflects a change in the insider's stake in the company. Caleres Inc has not released any official statement regarding this transaction, and the reasons behind Schmitt's decision to sell the shares remain personal.
Investors often keep an eye on insider transactions as they can provide insights into the executive's view of the company's current valuation and future prospects. However, it's important to note that insider sales can occur for various reasons and may not necessarily indicate a lack of confidence in the company.
Caleres Inc, headquartered in St. Louis, Missouri, operates as a global footwear company with a portfolio of brands that appeal to a wide range of consumers. As of the date of the reported transaction, the company's stock is publicly traded on the New York Stock Exchange under the ticker symbol NYSE:CAL.
InvestingPro Insights
As investors digest the news of Senior Vice President Mark A. Schmitt's recent stock sale in Caleres Inc (NYSE:CAL), they may find additional context in the company's financial metrics and market performance. According to real-time data from InvestingPro, Caleres Inc boasts a market capitalization of $1.35 billion, and its stock is trading at an earnings multiple (P/E Ratio) of 7.93, which suggests a valuation that may be attractive to value investors.
The company has shown a commendable commitment to its shareholders, maintaining dividend payments for 54 consecutive years, a testament to its financial resilience and consistent performance. This is further underscored by the stock's impressive return over the last year, with a 75.07% price total return, and a strong 27.6% return in the last three months alone.
InvestingPro Tips highlight that despite a slight revenue decline of 5.08% in the last twelve months as of Q4 2024, Caleres Inc is predicted to be profitable this year. Additionally, the company's stock price has experienced a significant uptick, increasing by 41.79% over the last six months. Investors considering Caleres Inc may also note the company's high shareholder yield and its low earnings multiple, which could indicate potential for growth and value.
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