Caleres (NYSE:CAL) Lowered to “Hold” at StockNews.com

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

Separately, Loop Capital lowered Caleres from a buy rating to a hold rating and set a $45.00 price target for the company. in a research note on Tuesday, September 3rd.

Caleres Price Performance

Caleres stock opened at $37.25 on Wednesday. Caleres has a 12-month low of $24.71 and a 12-month high of $44.51. The stock has a market capitalization of $1.31 billion, a PE ratio of 7.89 and a beta of 1.93. The firm has a 50 day simple moving average of $37.44 and a 200-day simple moving average of $36.95.

Caleres Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a $0.07 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.75%. Caleres’s payout ratio is currently 5.93%.

Insider Buying and Selling

In other Caleres news, insider Diane M. Sullivan sold 19,764 shares of the company’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $33.66, for a total value of $665,256.24. Following the transaction, the insider now owns 173,816 shares of the company’s stock, valued at $5,850,646.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Diane M. Sullivan sold 19,764 shares of Caleres stock in a transaction on Monday, June 17th. The stock was sold at an average price of $33.66, for a total value of $665,256.24. Following the transaction, the insider now directly owns 173,816 shares in the company, valued at approximately $5,850,646.56. 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 business’s 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 directly owns 150,449 shares in the company, valued at $5,333,417.05. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,181 shares of company stock worth $1,447,208. Corporate insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. nVerses Capital LLC purchased a new stake in shares of Caleres in the 2nd quarter valued at approximately $40,000. SG Americas Securities LLC purchased a new stake in shares of Caleres in the first quarter valued at $117,000. Shell Asset Management Co. acquired a new stake in shares of Caleres in the first quarter worth $156,000. Assetmark Inc. grew 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 valued at $184,000 after buying an additional 440 shares in the last quarter. Finally, BlackDiamond Wealth Management LLC acquired a new position in Caleres during the fourth quarter valued at $218,000. 98.44% of the stock is owned by hedge funds and other institutional investors.

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.