Caleres (NYSE:CAL) Cut to “Buy” at StockNews.com

StockNews.com lowered shares of Caleres (NYSE:CAL) from a strong-buy rating to a buy rating in a research note released on Thursday.

Caleres Stock Performance

Shares of CAL stock opened at $35.39 on Thursday. Caleres has a 1 year low of $23.79 and a 1 year high of $41.94. The stock has a market cap of $1.24 billion, a PE ratio of 7.50 and a beta of 1.91. The business’s fifty day moving average is $34.47 and its 200-day moving average is $35.74.

Caleres (NYSE:CAL) last issued its quarterly earnings results on Thursday, May 30th. The textile maker reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.02. Caleres had a return on equity of 27.32% and a net margin of 5.97%. The company had revenue of $659.20 million for the quarter, compared to analysts’ expectations of $664.80 million. During the same period last year, the firm earned $0.97 EPS. The firm’s revenue for the quarter was down .5% on a year-over-year basis. Equities research analysts predict that Caleres will post 4.4 earnings per share for the current year.

Caleres Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Wednesday, June 5th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend was Wednesday, June 5th. Caleres’s dividend payout ratio (DPR) is presently 5.93%.

Insider Activity

In other news, CEO John W. Schmidt sold 25,332 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $37.63, for a total transaction of $953,243.16. Following the completion of the sale, the chief executive officer now directly owns 348,771 shares of the company’s stock, valued at approximately $13,124,252.73. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO John W. Schmidt sold 25,332 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $37.63, for a total transaction of $953,243.16. Following the completion of the sale, the chief executive officer now directly owns 348,771 shares of the company’s stock, valued at approximately $13,124,252.73. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Carla C. Hendra sold 5,349 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $33.07, for a total value of $176,891.43. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 89,284 shares of company stock worth $3,195,964. 3.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Caleres

Large investors have recently modified their holdings of the stock. nVerses Capital LLC acquired a new stake in shares of Caleres in the second quarter worth $40,000. SG Americas Securities LLC acquired a new stake in shares of Caleres in the first quarter worth $117,000. Shell Asset Management Co. acquired a new stake in shares of Caleres in the first quarter worth $156,000. Assetmark Inc. boosted its position in shares of Caleres by 7.9% in the fourth quarter. Assetmark Inc. now owns 6,000 shares of the textile maker’s stock worth $184,000 after buying an additional 440 shares during the period. Finally, BlackDiamond Wealth Management LLC acquired a new stake in shares of Caleres in the fourth quarter worth $218,000. 98.44% of the stock is owned by institutional investors.

About Caleres

Caleres, Inc engages in the retail and wholesale of footwear business in the United States, Canada, East Asia, and internationally. It operates through Famous Footwear and Brand Portfolio segments. The company offers licensed, branded, and private-label athletic, casual, and dress footwear products. The company provides brand name athletic, casual, and dress shoes, including Nike, Skechers, adidas, Vans, Crocs, Converse, Puma, Birkenstock, New Balance, Under Armour, Dr.