Caleres (NYSE:CAL) Raised to Buy at StockNews.com

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

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

Caleres Trading Down 0.1 %

Shares of NYSE CAL opened at $33.47 on Thursday. The business has a fifty day simple moving average of $37.51 and a 200 day simple moving average of $36.67. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 7.09 and a beta of 1.93. Caleres has a one year low of $24.71 and a one year high of $44.51.

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

Caleres Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend is Friday, September 13th. Caleres’s dividend payout ratio (DPR) is 5.93%.

Insider Buying and Selling at Caleres

In other Caleres news, Director Carla C. Hendra sold 5,349 shares of the company’s stock in a transaction 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 legal filing with the SEC, which is available through the SEC website. In other news, Director Carla C. Hendra sold 5,349 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $33.07, for a total transaction of $176,891.43. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Diane M. Sullivan sold 17,068 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $35.45, for a total value of $605,060.60. Following the sale, the insider now owns 150,449 shares in the company, valued at approximately $5,333,417.05. The disclosure for this sale can be found here. Company insiders own 3.80% of the company’s stock.

Institutional Trading of Caleres

Several large investors have recently made changes to their positions in the business. Sanctuary Advisors LLC bought a new position in Caleres in the second quarter valued at about $1,448,000. The Manufacturers Life Insurance Company boosted its holdings in Caleres by 4.8% in the second quarter. The Manufacturers Life Insurance Company now owns 16,743 shares of the textile maker’s stock valued at $563,000 after acquiring an additional 761 shares during the last quarter. Millennium Management LLC boosted its holdings in Caleres by 58.8% in the second quarter. Millennium Management LLC now owns 221,082 shares of the textile maker’s stock valued at $7,428,000 after acquiring an additional 81,836 shares during the last quarter. Dark Forest Capital Management LP bought a new position in Caleres in the second quarter valued at about $364,000. Finally, AXA S.A. boosted its holdings in Caleres by 28.5% in the second quarter. AXA S.A. now owns 6,939 shares of the textile maker’s stock valued at $233,000 after acquiring an additional 1,540 shares during the last quarter. 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.