Loop Capital Cuts Caleres (NYSE:CAL) Price Target to $30.00

Caleres (NYSE:CAL) had its target price trimmed by Loop Capital from $45.00 to $30.00 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has a hold rating on the textile maker’s stock.

Separately, StockNews.com lowered shares of Caleres from a buy rating to a hold rating in a research note on Wednesday, September 11th.

Caleres Stock Up 1.5 %

CAL opened at $32.27 on Friday. Caleres has a 52 week low of $24.71 and a 52 week high of $44.51. The stock has a market cap of $1.13 billion, a PE ratio of 6.84 and a beta of 1.93. The business has a 50 day moving average of $37.47 and a 200-day moving average of $36.81.

Caleres (NYSE:CAL) last posted its quarterly earnings data 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). Caleres had a return on equity of 27.32% and a net margin of 5.97%. The firm had revenue of $683.30 million during the quarter, compared to the consensus estimate of $723.80 million. During the same quarter last year, the company posted $0.98 EPS. Caleres’s revenue for the quarter was down 1.8% compared to the same quarter last year. Equities analysts anticipate that Caleres will post 4.4 EPS for the current year.

Caleres Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.87%. Caleres’s dividend payout ratio is currently 5.93%.

Insider Activity

In related news, Director Carla C. Hendra sold 5,349 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were 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 at this hyperlink. In other Caleres news, Director Carla C. Hendra sold 5,349 shares of Caleres stock in a transaction dated Monday, July 15th. The shares were 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Diane M. Sullivan sold 17,068 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was 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 owns 150,449 shares in the company, valued at approximately $5,333,417.05. The disclosure for this sale can be found here. Corporate insiders own 3.80% of the company’s stock.

Institutional Trading of Caleres

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Caleres by 0.8% during 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. lifted its stake in Caleres by 25.6% during the 2nd quarter. American Century Companies Inc. now owns 901,852 shares of the textile maker’s stock valued at $30,302,000 after acquiring an additional 183,594 shares during the period. Millennium Management LLC boosted its holdings in shares of Caleres by 58.8% during the 2nd 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. Great Lakes Advisors LLC grew its stake 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 period. Finally, Quantedge Capital Pte Ltd purchased a new position in shares of Caleres during the fourth quarter valued at approximately $3,697,000. 98.44% of the stock is currently owned by hedge funds and other 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.