Loop Capital Issues Pessimistic Forecast for Caleres (NYSE:CAL) Stock Price

Caleres (NYSE:CAL) had its price target reduced by Loop Capital from $17.00 to $16.00 in a research note released on Friday,Benzinga reports. They currently have a hold rating on the textile maker’s stock.

Caleres Price Performance

Shares of Caleres stock opened at $16.00 on Friday. The company’s 50 day moving average price is $17.02 and its two-hundred day moving average price is $24.21. The firm has a market capitalization of $537.90 million, a P/E ratio of 3.56 and a beta of 1.82. Caleres has a fifty-two week low of $14.38 and a fifty-two week high of $44.51.

Caleres (NYSE:CAL) last issued its quarterly earnings data on Thursday, March 20th. The textile maker reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.06. Caleres had a return on equity of 22.71% and a net margin of 5.69%. The business had revenue of $639.20 million for the quarter, compared to analyst estimates of $645.79 million. During the same quarter in the previous year, the company posted $0.86 EPS. Caleres’s quarterly revenue was down 8.3% compared to the same quarter last year. On average, analysts expect that Caleres will post 3.23 earnings per share for the current year.

Caleres Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors 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 annualized dividend and a yield of 1.75%. Caleres’s dividend payout ratio is presently 9.12%.

Insider Buying and Selling at Caleres

In related news, Director Kyle Gendreau bought 5,000 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was acquired at an average cost of $19.93 per share, with a total value of $99,650.00. Following the transaction, the director now directly owns 5,000 shares in the company, valued at approximately $99,650. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lori Greeley purchased 9,000 shares of Caleres stock in a transaction on Thursday, March 27th. The stock was bought 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. The trade was a 900.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Caleres

Large investors have recently modified their holdings of the company. Versant Capital Management Inc raised its position in shares of Caleres by 244.0% in the 1st quarter. Versant Capital Management Inc now owns 1,455 shares of the textile maker’s stock worth $25,000 after acquiring an additional 1,032 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Caleres by 254.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,733 shares of the textile maker’s stock valued at $40,000 after buying an additional 1,244 shares during the period. Golden State Wealth Management LLC bought a new stake in Caleres in the 4th quarter valued at about $59,000. Lee Danner & Bass Inc. bought a new position in Caleres in the fourth quarter worth approximately $81,000. Finally, Canada Pension Plan Investment Board acquired a new stake in Caleres in the fourth quarter valued at approximately $86,000. 98.44% of the stock is currently owned by institutional investors and hedge funds.

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.