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 research report released on Thursday morning.

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

Caleres Price Performance

NYSE:CAL opened at $33.47 on Thursday. Caleres has a fifty-two week low of $24.71 and a fifty-two week high of $44.51. The stock’s 50-day moving average is $37.51 and its two-hundred day moving average is $36.67. The stock has a market cap of $1.18 billion, a PE ratio of 7.09 and a beta of 1.93.

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

Caleres Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a $0.07 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.28 annualized dividend and a dividend yield of 0.84%. Caleres’s payout ratio is 5.93%.

Insider Activity at Caleres

In other Caleres news, Director Carla C. Hendra sold 5,349 shares of the company’s stock in a transaction that occurred 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 Securities & Exchange Commission, which is accessible through this hyperlink. In other Caleres news, Director Carla C. Hendra sold 5,349 shares of the company’s stock in a transaction that occurred 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 Securities & Exchange Commission, which is accessible through this hyperlink. 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 value of $605,060.60. Following the sale, the insider now directly owns 150,449 shares of the company’s stock, valued at approximately $5,333,417.05. The disclosure for this sale can be found here. 3.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Texas Permanent School Fund Corp lifted its holdings in shares of Caleres by 1.2% during the first quarter. Texas Permanent School Fund Corp now owns 29,207 shares of the textile maker’s stock worth $1,198,000 after buying an additional 348 shares during the last quarter. SummerHaven Investment Management LLC lifted its holdings in shares of Caleres by 1.4% during the second quarter. SummerHaven Investment Management LLC now owns 29,394 shares of the textile maker’s stock worth $988,000 after buying an additional 409 shares during the last quarter. Assetmark Inc. lifted its holdings in shares of Caleres by 7.9% during the fourth quarter. Assetmark Inc. now owns 6,000 shares of the textile maker’s stock worth $184,000 after buying an additional 440 shares during the last quarter. New York State Teachers Retirement System lifted its holdings in shares of Caleres by 0.9% during the first quarter. New York State Teachers Retirement System now owns 51,107 shares of the textile maker’s stock worth $2,097,000 after buying an additional 473 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Caleres by 4.8% during the second quarter. The Manufacturers Life Insurance Company now owns 16,743 shares of the textile maker’s stock worth $563,000 after buying an additional 761 shares during the last quarter. 98.44% of the stock is currently 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.