Caleres Inc (NYSE:CAL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Monday.
According to Zacks, “Caleres, Inc. is a footwear retailer and wholesaler. The Company is involved in the operation of retail shoe stores and e-commerce Websites as well as the design, sourcing and marketing of footwear for women and men. Its operating segment consists of Famous Footwear and Brand Portfolio. The company brands include Nike, Skechers, Bearpaw, Converse, Vans, New Balance, adidas, Asics, Sperry and Sof Sole, LifeStride, Dr. Scholl’s, Fergalicious, Naturalizer and Carlos. Caleres, Inc., formerly known as Brown Shoe Company, Inc., is headquartered in St. Louis, Missouri. “
CAL has been the subject of several other reports. Jefferies Group LLC reaffirmed a “hold” rating on shares of Caleres in a report on Tuesday, January 3rd. Susquehanna Bancshares Inc raised Caleres from a “neutral” rating to a “positive” rating and increased their price target for the stock from $25.00 to $40.00 in a report on Wednesday, December 7th. Morgan Stanley raised Caleres from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $33.00 to $37.00 in a report on Friday, March 3rd. They noted that the move was a valuation call. Finally, CL King downgraded Caleres from a “buy” rating to a “neutral” rating in a report on Tuesday, December 13th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $31.17.
Shares of Caleres (NYSE:CAL) traded down 5.90% during midday trading on Monday, reaching $26.30. 940,113 shares of the company traded hands. Caleres has a 1-year low of $21.27 and a 1-year high of $36.61. The stock’s 50-day moving average is $30.41 and its 200-day moving average is $29.14. The stock has a market capitalization of $1.13 billion, a P/E ratio of 13.64 and a beta of 0.61.
Caleres (NYSE:CAL) last issued its quarterly earnings results on Thursday, March 16th. The company reported $0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.05. Caleres had a return on equity of 13.54% and a net margin of 3.28%. The company had revenue of $639.49 million for the quarter, compared to analyst estimates of $630.22 million. During the same period in the prior year, the business earned $0.26 earnings per share. Caleres’s revenue for the quarter was up 5.1% compared to the same quarter last year. Equities analysts predict that Caleres will post $2.31 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Tuesday, March 21st will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend is Friday, March 17th. Caleres’s dividend payout ratio (DPR) is presently 14.43%.
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In related news, insider Daniel R. Freidman sold 2,000 shares of Caleres stock in a transaction dated Tuesday, January 10th. The stock was sold at an average price of $32.00, for a total transaction of $64,000.00. Following the completion of the sale, the insider now owns 84,373 shares in the company, valued at approximately $2,699,936. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Daniel R. Freidman sold 5,000 shares of Caleres stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $30.63, for a total value of $153,150.00. Following the sale, the insider now owns 77,373 shares of the company’s stock, valued at approximately $2,369,934.99. The disclosure for this sale can be found here. Insiders have sold a total of 43,630 shares of company stock valued at $1,470,658 in the last ninety days. Corporate insiders own 3.20% of the company’s stock.
A number of hedge funds have recently bought and sold shares of CAL. Royal Bank of Canada boosted its stake in Caleres by 4.0% in the second quarter. Royal Bank of Canada now owns 9,517 shares of the company’s stock worth $230,000 after buying an additional 364 shares in the last quarter. LaSalle Street Capital Management LLC bought a new stake in Caleres during the fourth quarter worth approximately $238,000. Municipal Employees Retirement System of Michigan boosted its stake in Caleres by 1.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 9,690 shares of the company’s stock worth $245,000 after buying an additional 160 shares in the last quarter. First Mercantile Trust Co. bought a new stake in Caleres during the third quarter worth approximately $255,000. Finally, Strategic Investment Management LLC bought a new stake in Caleres during the fourth quarter worth approximately $278,000. Hedge funds and other institutional investors own 85.77% of the company’s stock.
Caleres, Inc, formerly Brown Shoe Company, Inc, is a global footwear retailer and wholesaler. The Company is engaged in the operation of retail shoe stores and e-commerce Websites, as well as the design, sourcing and marketing of footwear for women and men. It operates through two segments: Famous Footwear, which includes its Famous Footwear stores and Famous.com, and Brand Portfolio, which offers retailers and consumers a portfolio of brands from its Healthy Living and Contemporary Fashion platforms.
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