Caleres (NYSE:CAL) Cut to “Hold” at Loop Capital

Loop Capital downgraded shares of Caleres (NYSE:CAL) from a buy rating to a hold rating in a research note published on Tuesday, Marketbeat.com reports. The brokerage currently has $45.00 price objective on the textile maker’s stock.

Separately, StockNews.com downgraded shares of Caleres from a strong-buy rating to a buy rating in a research note on Thursday, August 1st.

Caleres Stock Performance

CAL stock opened at $39.54 on Tuesday. The stock has a fifty day moving average of $37.02 and a 200-day moving average of $36.89. Caleres has a fifty-two week low of $24.71 and a fifty-two week high of $44.51. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of 8.38 and a beta of 1.91.

Caleres Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.71%. The ex-dividend date is Friday, September 13th. Caleres’s dividend payout ratio (DPR) is presently 5.93%.

Insider Activity at Caleres

In other news, insider Diane M. Sullivan sold 19,764 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $33.66, for a total transaction of $665,256.24. Following the sale, the insider now directly owns 173,816 shares in the company, valued at $5,850,646.56. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Caleres news, insider Diane M. Sullivan sold 19,764 shares of the firm’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $33.66, for a total value of $665,256.24. Following the completion of the transaction, the insider now directly owns 173,816 shares of the company’s stock, valued at approximately $5,850,646.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Diane M. Sullivan sold 17,068 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $35.45, for a total transaction of $605,060.60. Following the transaction, the insider now owns 150,449 shares of the company’s stock, valued at $5,333,417.05. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,181 shares of company stock worth $1,447,208. 3.80% of the stock is owned by company insiders.

Institutional Trading of Caleres

Several institutional investors and hedge funds have recently modified their holdings of CAL. nVerses Capital LLC purchased a new position in shares of Caleres during the second quarter worth about $40,000. SG Americas Securities LLC bought a new position in shares of Caleres in the 1st quarter worth $117,000. Shell Asset Management Co. purchased a new stake in shares of Caleres during the 1st quarter valued at $156,000. Assetmark Inc. raised its position in shares of Caleres by 7.9% during the 4th quarter. Assetmark Inc. now owns 6,000 shares of the textile maker’s stock valued at $184,000 after buying an additional 440 shares in the last quarter. Finally, BlackDiamond Wealth Management LLC bought a new stake in shares of Caleres during the 4th quarter worth $218,000. Hedge funds and other institutional investors own 98.44% of the company’s stock.

Caleres Company Profile

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.