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

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

Caleres Trading Down 5.2 %

NYSE CAL opened at $35.39 on Thursday. The stock’s 50 day moving average is $34.47 and its two-hundred day moving average is $35.79. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of 7.50 and a beta of 1.91. Caleres has a 1-year low of $23.79 and a 1-year high of $41.94.

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

Caleres Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Wednesday, June 5th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.79%. The ex-dividend date was Wednesday, June 5th. Caleres’s payout ratio is currently 5.93%.

Insider Transactions at Caleres

In other 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Diane M. Sullivan sold 21,771 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $36.54, for a total value of $795,512.34. Following the completion of the transaction, the insider now owns 232,897 shares in the company, valued at approximately $8,510,056.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $176,891.43. The disclosure for this sale can be found here. Insiders have sold 63,952 shares of company stock valued at $2,242,721 in the last three months. 3.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CAL. nVerses Capital LLC bought a new position in Caleres in the 2nd quarter worth approximately $40,000. SG Americas Securities LLC bought a new stake in shares of Caleres during the 1st quarter valued at $117,000. Shell Asset Management Co. bought 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 acquiring an additional 440 shares during the last quarter. Finally, BlackDiamond Wealth Management LLC bought a new stake in shares of Caleres during the 4th quarter valued at $218,000. Institutional investors own 98.44% of the company’s stock.

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.