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

StockNews.com upgraded shares of Caleres (NYSE:CAL) from a buy rating to a strong-buy rating in a report issued on Wednesday morning.

Caleres Stock Performance

Caleres stock opened at $37.35 on Wednesday. The company has a 50 day moving average price of $34.40 and a 200-day moving average price of $35.44. Caleres has a fifty-two week low of $23.79 and a fifty-two week high of $41.94. The company has a market capitalization of $1.31 billion, a PE ratio of 7.91 and a beta of 1.91.

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

Caleres Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Wednesday, June 5th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date was Wednesday, June 5th. Caleres’s dividend payout ratio (DPR) is 5.93%.

Insider Buying and Selling

In related news, CEO John W. Schmidt sold 25,332 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $37.63, for a total value of $953,243.16. Following the completion of the transaction, the chief executive officer now owns 348,771 shares of the company’s stock, valued at $13,124,252.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO John W. Schmidt sold 25,332 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $37.63, for a total value of $953,243.16. Following the completion of the transaction, the chief executive officer now owns 348,771 shares of the company’s stock, valued at $13,124,252.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Diane M. Sullivan sold 21,771 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $36.54, for a total transaction of $795,512.34. Following the completion of the transaction, the insider now directly owns 232,897 shares of the company’s stock, valued at approximately $8,510,056.38. The disclosure for this sale can be found here. Insiders sold 89,284 shares of company stock valued at $3,195,964 over the last 90 days. Corporate insiders own 3.80% of the company’s stock.

Institutional Trading of Caleres

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Capstone Investment Advisors LLC acquired a new position in shares of Caleres in the 1st quarter valued at $1,641,000. LSV Asset Management increased its position in shares of Caleres by 792.6% in the 1st quarter. LSV Asset Management now owns 67,100 shares of the textile maker’s stock valued at $2,753,000 after acquiring an additional 59,583 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Caleres by 76.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,086 shares of the textile maker’s stock valued at $279,000 after acquiring an additional 3,925 shares during the period. Cornercap Investment Counsel Inc. acquired a new position in shares of Caleres in the 4th quarter valued at $1,032,000. Finally, New York State Teachers Retirement System increased its position in shares of Caleres by 5.1% in the 4th quarter. New York State Teachers Retirement System now owns 50,634 shares of the textile maker’s stock valued at $1,556,000 after acquiring an additional 2,458 shares during the period. 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.