Caleres (NYSE:CAL) Upgraded by StockNews.com to “Buy”

StockNews.com upgraded shares of Caleres (NYSE:CAL) from a hold rating to a buy rating in a report issued on Thursday morning.

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

Caleres Stock Performance

NYSE:CAL opened at $33.51 on Thursday. Caleres has a fifty-two week low of $24.71 and a fifty-two week high of $44.51. The company has a 50 day simple moving average of $37.50 and a two-hundred day simple moving average of $36.72. The company has a market capitalization of $1.18 billion, a PE ratio of 7.10 and a beta of 1.93.

Caleres (NYSE:CAL) last announced 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 net margin of 5.97% and a return on equity of 27.32%. The business had revenue of $683.30 million during the quarter, compared to analyst estimates of $723.80 million. During the same period in the prior year, the firm earned $0.98 earnings per share. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. Research analysts predict that Caleres will post 4.4 EPS for the current year.

Caleres Announces Dividend

The company 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. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Friday, September 13th. Caleres’s dividend payout ratio is currently 5.93%.

Insiders Place Their Bets

In other news, insider Diane M. Sullivan sold 17,068 shares of Caleres stock in a transaction dated Monday, July 22nd. The shares were 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 directly owns 150,449 shares in the company, valued at $5,333,417.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Carla C. Hendra sold 5,349 shares of Caleres 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 SEC, which is accessible through this hyperlink. Also, insider Diane M. Sullivan sold 17,068 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $35.45, for a total value of $605,060.60. Following the completion of the sale, the insider now directly owns 150,449 shares of the company’s stock, valued at $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

Several institutional investors and hedge funds have recently made changes to their positions in CAL. Texas Permanent School Fund Corp grew its stake in Caleres by 1.2% in the 1st quarter. Texas Permanent School Fund Corp now owns 29,207 shares of the textile maker’s stock valued at $1,198,000 after purchasing an additional 348 shares during the period. SummerHaven Investment Management LLC raised its stake in Caleres by 1.4% in the 2nd quarter. SummerHaven Investment Management LLC now owns 29,394 shares of the textile maker’s stock valued at $988,000 after acquiring an additional 409 shares during the period. Assetmark Inc. lifted its holdings in 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 purchasing an additional 440 shares during the last quarter. New York State Teachers Retirement System increased its stake in shares of Caleres by 0.9% in 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 purchasing an additional 473 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Caleres by 4.8% in the second quarter. The Manufacturers Life Insurance Company now owns 16,743 shares of the textile maker’s stock valued at $563,000 after purchasing an additional 761 shares during the period. Hedge funds and other institutional investors own 98.44% of the company’s stock.

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.