Caleres (NYSE:CAL) Given New $16.00 Price Target at Loop Capital

Caleres (NYSE:CAL) had its price target lowered by Loop Capital from $17.00 to $16.00 in a report released on Friday,Benzinga reports. The brokerage currently has a hold rating on the textile maker’s stock.

Caleres Trading Up 3.1 %

NYSE CAL opened at $16.00 on Friday. The firm has a market capitalization of $537.90 million, a P/E ratio of 3.56 and a beta of 1.82. The firm’s fifty day moving average price is $17.02 and its two-hundred day moving average price is $24.21. Caleres has a 1 year low of $14.38 and a 1 year high of $44.51.

Caleres (NYSE:CAL) last issued its earnings results on Thursday, March 20th. The textile maker reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.06. The business had revenue of $639.20 million during the quarter, compared to the consensus estimate of $645.79 million. Caleres had a net margin of 5.69% and a return on equity of 22.71%. Caleres’s revenue was down 8.3% on a year-over-year basis. During the same period last year, the business posted $0.86 EPS. On average, research analysts anticipate that Caleres will post 3.23 EPS for the current fiscal year.

Caleres Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, March 27th will be given a dividend of $0.07 per share. The ex-dividend date is Thursday, March 27th. This represents a $0.28 dividend on an annualized basis and a yield of 1.75%. Caleres’s dividend payout ratio (DPR) is 9.12%.

Insider Buying and Selling at Caleres

In other news, Director Kyle Gendreau purchased 5,000 shares of Caleres stock in a transaction that occurred on Friday, January 17th. The stock was acquired at an average cost of $19.93 per share, for a total transaction of $99,650.00. Following the purchase, the director now directly owns 5,000 shares of the company’s stock, valued at $99,650. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lori Greeley acquired 9,000 shares of the stock in a transaction on Thursday, March 27th. The shares were purchased at an average price of $17.77 per share, for a total transaction of $159,930.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $177,700. This trade represents a 900.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Caleres

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Caleres by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 3,223,343 shares of the textile maker’s stock worth $74,653,000 after purchasing an additional 50,041 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Caleres by 8.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,049,895 shares of the textile maker’s stock worth $47,475,000 after buying an additional 167,326 shares in the last quarter. Principal Financial Group Inc. increased its stake in Caleres by 3.2% during the 3rd quarter. Principal Financial Group Inc. now owns 1,835,057 shares of the textile maker’s stock worth $60,648,000 after acquiring an additional 56,346 shares during the period. State Street Corp raised its holdings in Caleres by 3.1% in the 3rd quarter. State Street Corp now owns 1,519,912 shares of the textile maker’s stock valued at $50,233,000 after acquiring an additional 46,230 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Caleres by 10.1% during the 4th quarter. American Century Companies Inc. now owns 1,148,219 shares of the textile maker’s stock valued at $26,593,000 after acquiring an additional 105,392 shares during the period. 98.44% of the stock is owned by institutional investors.

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.