Caleres (NYSE:CAL) Lifted to “Buy” at StockNews.com

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

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

Caleres Stock Down 0.1 %

Shares of CAL opened at $33.47 on Thursday. The company has a 50-day simple moving average of $37.51 and a 200-day simple moving average of $36.67. The company has a market capitalization of $1.18 billion, a PE ratio of 7.09 and a beta of 1.93. Caleres has a 52-week low of $24.71 and a 52-week high of $44.51.

Caleres (NYSE:CAL) last announced its quarterly earnings results on Thursday, September 12th. The textile maker reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.37). The company had revenue of $683.30 million during the quarter, compared to analysts’ expectations of $723.80 million. Caleres had a net margin of 5.97% and a return on equity of 27.32%. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.98 EPS. On average, research analysts anticipate that Caleres will post 4.4 EPS for the current year.

Caleres Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.07 per share. The ex-dividend date is Friday, September 13th. This represents a $0.28 annualized dividend and a yield of 0.84%. Caleres’s dividend payout ratio (DPR) is currently 5.93%.

Insider Buying and Selling at Caleres

In other Caleres news, insider Diane M. Sullivan sold 17,068 shares of the firm’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 completion of the transaction, the insider now directly owns 150,449 shares in the company, valued at approximately $5,333,417.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Caleres news, Director Carla C. Hendra sold 5,349 shares of the firm’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 legal filing with the SEC, which can be accessed through this link. Also, insider Diane M. Sullivan sold 17,068 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $35.45, for a total transaction of $605,060.60. Following the sale, the insider now directly owns 150,449 shares in the company, valued at $5,333,417.05. The disclosure for this sale can be found here. 3.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Caleres

Several hedge funds have recently modified their holdings of CAL. American Century Companies Inc. boosted its stake in shares of Caleres by 25.6% during the 2nd quarter. American Century Companies Inc. now owns 901,852 shares of the textile maker’s stock worth $30,302,000 after purchasing an additional 183,594 shares during the last quarter. Quantedge Capital Pte Ltd acquired a new stake in shares of Caleres in the fourth quarter worth approximately $3,697,000. Millennium Management LLC boosted its position in shares of Caleres by 58.8% in the second quarter. Millennium Management LLC now owns 221,082 shares of the textile maker’s stock worth $7,428,000 after acquiring an additional 81,836 shares during the last quarter. Great Lakes Advisors LLC boosted its position in shares of Caleres by 69.6% in the second 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 last quarter. Finally, Leuthold Group LLC acquired a new stake in shares of Caleres in the second quarter worth approximately $2,391,000. 98.44% of the stock is owned by institutional investors and hedge funds.

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.