StockNews.com Lowers Caleres (NYSE:CAL) to Hold

StockNews.com cut shares of Caleres (NYSE:CAL) from a buy rating to a hold rating in a research note published on Thursday.

Separately, Loop Capital reduced their price target on Caleres from $45.00 to $30.00 and set a hold rating for the company in a research report on Friday, September 13th.

Caleres Price Performance

Shares of CAL stock opened at $32.51 on Thursday. Caleres has a fifty-two week low of $24.71 and a fifty-two week high of $44.51. The stock’s 50-day moving average is $36.96 and its two-hundred day moving average is $36.27. The firm has a market cap of $1.14 billion, a P/E ratio of 6.89 and a beta of 1.91.

Caleres (NYSE:CAL) last released its quarterly earnings data on Thursday, September 12th. The textile maker reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.37). The firm had revenue of $683.30 million during the quarter, compared to analyst estimates of $723.80 million. Caleres had a return on equity of 24.63% and a net margin of 5.84%. The company’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.98 EPS. As a group, research analysts expect that Caleres will post 4.04 EPS for the current 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 issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date was Friday, September 13th. Caleres’s dividend payout ratio (DPR) is currently 5.93%.

Insiders Place Their Bets

In other news, Director Carla C. Hendra sold 5,349 shares of the 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 legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Carla C. Hendra sold 5,349 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $33.07, for a total transaction of $176,891.43. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Diane M. Sullivan sold 17,068 shares of the company’s stock in a transaction dated 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 directly owns 150,449 shares of the company’s stock, valued at $5,333,417.05. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.80% of the company’s stock.

Institutional Trading of Caleres

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Caleres by 0.8% in the first quarter. Vanguard Group Inc. now owns 3,160,116 shares of the textile maker’s stock valued at $129,660,000 after purchasing an additional 26,214 shares in the last quarter. American Century Companies Inc. increased its holdings in Caleres by 25.6% in the 2nd quarter. American Century Companies Inc. now owns 901,852 shares of the textile maker’s stock valued at $30,302,000 after buying an additional 183,594 shares during the period. Millennium Management LLC raised its stake in shares of Caleres by 58.8% in the 2nd quarter. Millennium Management LLC now owns 221,082 shares of the textile maker’s stock valued at $7,428,000 after buying an additional 81,836 shares in the last quarter. Great Lakes Advisors LLC lifted its holdings in shares of Caleres by 69.6% during the 2nd quarter. Great Lakes Advisors LLC now owns 193,841 shares of the textile maker’s stock worth $6,513,000 after acquiring an additional 79,581 shares during the period. Finally, Empowered Funds LLC boosted its position in shares of Caleres by 8.2% during the 1st quarter. Empowered Funds LLC now owns 118,182 shares of the textile maker’s stock valued at $4,849,000 after acquiring an additional 8,925 shares in the last quarter. Institutional investors and hedge funds 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.