Caleres (NYSE:CAL) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of Caleres (NYSE:CAL) from a strong sell rating to a hold rating in a report released on Thursday morning,Zacks.com reports.

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Caleres in a research note on Wednesday, January 21st. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $14.00.

Caleres Trading Down 2.0%

Shares of NYSE:CAL traded down $0.24 during mid-day trading on Thursday, reaching $11.82. The stock had a trading volume of 867,982 shares, compared to its average volume of 499,726. The business’s 50 day moving average price is $12.78 and its 200 day moving average price is $13.05. Caleres has a 1 year low of $9.54 and a 1 year high of $18.27. The company has a market cap of $400.80 million, a P/E ratio of 18.77 and a beta of 0.64.

Caleres (NYSE:CAL) last released its quarterly earnings data on Tuesday, December 9th. The textile maker reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.08). The firm had revenue of $790.05 million during the quarter, compared to the consensus estimate of $768.59 million. Caleres had a return on equity of 8.62% and a net margin of 0.78%.The business’s revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.23 EPS. Caleres has set its FY 2025 guidance at 0.550-0.60 EPS. Analysts predict that Caleres will post 3.23 earnings per share for the current fiscal year.

Caleres Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Friday, December 26th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Friday, December 26th. Caleres’s dividend payout ratio is 44.44%.

Institutional Trading of Caleres

A number of large investors have recently made changes to their positions in CAL. AQR Capital Management LLC increased its stake in Caleres by 143.2% in the 1st quarter. AQR Capital Management LLC now owns 90,546 shares of the textile maker’s stock worth $1,560,000 after buying an additional 53,320 shares during the period. Empowered Funds LLC increased its position in shares of Caleres by 4.2% during the first quarter. Empowered Funds LLC now owns 162,814 shares of the textile maker’s stock worth $2,805,000 after acquiring an additional 6,502 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Caleres by 4.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 105,137 shares of the textile maker’s stock valued at $1,812,000 after acquiring an additional 4,175 shares in the last quarter. AlphaQuest LLC boosted its holdings in shares of Caleres by 75.6% in the second quarter. AlphaQuest LLC now owns 19,633 shares of the textile maker’s stock valued at $240,000 after purchasing an additional 8,455 shares during the period. Finally, Campbell & CO Investment Adviser LLC bought a new position in Caleres in the second quarter worth approximately $236,000. 98.44% of the stock is owned by hedge funds and other institutional investors.

Caleres Company Profile

Caleres, Inc, formerly known as Brown Shoe Company, is a leading footwear company engaged in the design, sourcing, marketing and selling of a broad portfolio of branded and private-label shoes. The company’s operations span a range of market segments from value-priced to premium and luxury. Caleres operates through two primary segments: a retail segment anchored by the Famous Footwear banner, which includes more than 1,100 stores across North America, and a brand portfolio segment comprising owned and licensed brands such as Allen Edmonds, Naturalizer, Sam Edelman, Dr.