Caleres (NYSE:CAL) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Caleres (NYSE:CAL) from a buy rating to a hold rating in a research report released on Thursday morning.

Separately, Loop Capital lowered their target price on Caleres from $45.00 to $30.00 and set a hold rating on the stock in a research note on Friday, September 13th.

Caleres Price Performance

Shares of CAL opened at $32.51 on Thursday. The business’s 50-day moving average is $36.96 and its 200-day moving average is $36.25. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 6.89 and a beta of 1.91. Caleres has a fifty-two week low of $24.71 and a fifty-two week high of $44.51.

Caleres (NYSE:CAL) last released its earnings results on Thursday, September 12th. The textile maker reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.37). The company had revenue of $683.30 million during the quarter, compared to analysts’ expectations of $723.80 million. Caleres had a return on equity of 24.63% and a net margin of 5.84%. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.98 EPS. Equities research analysts expect that Caleres will post 4.04 earnings per share for the current fiscal year.

Caleres Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend was Friday, September 13th. Caleres’s dividend payout ratio is 5.93%.

Insider Transactions at Caleres

In related news, Director Carla C. Hendra sold 5,349 shares of Caleres stock in a transaction on Monday, July 15th. The shares were sold at an average price of $33.07, for a total value of $176,891.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Carla C. Hendra sold 5,349 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $33.07, for a total value of $176,891.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Diane M. Sullivan sold 17,068 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $35.45, for a total value of $605,060.60. Following the transaction, the insider now owns 150,449 shares in the company, valued at approximately $5,333,417.05. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 3.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Caleres

Hedge funds have recently bought and sold shares of the company. Capstone Investment Advisors LLC bought a new stake in Caleres in the 1st quarter valued at $1,641,000. LSV Asset Management raised its stake in shares of Caleres by 792.6% in the first quarter. LSV Asset Management now owns 67,100 shares of the textile maker’s stock valued at $2,753,000 after purchasing an additional 59,583 shares in the last quarter. Foundry Partners LLC acquired a new stake in Caleres during the second quarter worth $500,000. Caxton Associates LP acquired a new stake in Caleres during the first quarter worth $1,153,000. Finally, Great Lakes Advisors LLC increased its holdings in Caleres by 69.6% in the 2nd quarter. Great Lakes Advisors LLC now owns 193,841 shares of the textile maker’s stock valued at $6,513,000 after buying an additional 79,581 shares during the period. 98.44% of the stock is currently 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.