Zacks Investment Research downgraded shares of Caleres, Inc. (NYSE:CAL) from a buy rating to a hold rating in a research report sent to investors on Tuesday.
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 topic of a number of other reports. Susquehanna Bancshares Inc reissued a buy rating and issued a $31.00 price objective on shares of Caleres in a research report on Tuesday, August 29th. BidaskClub raised shares of Caleres from a sell rating to a hold rating in a research report on Friday, August 25th. TheStreet raised shares of Caleres from a c+ rating to a b- rating in a research report on Thursday, July 27th. Finally, Macquarie reissued an outperform rating and issued a $37.00 price objective on shares of Caleres in a research report on Sunday, October 1st. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $33.00.
Shares of Caleres (NYSE CAL) traded down 1.35% during midday trading on Tuesday, reaching $26.96. 88,341 shares of the company’s stock traded hands. Caleres has a 1-year low of $22.39 and a 1-year high of $36.61. The firm’s 50-day moving average price is $29.36 and its 200 day moving average price is $27.43. The stock has a market capitalization of $1.16 billion, a P/E ratio of 19.13 and a beta of 1.07.
Caleres (NYSE:CAL) last announced its quarterly earnings data on Tuesday, August 29th. The textile maker reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.03. Caleres had a net margin of 2.26% and a return on equity of 13.80%. The company had revenue of $677.00 million for the quarter, compared to the consensus estimate of $668.85 million. During the same period in the prior year, the firm posted $0.46 EPS. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, equities analysts predict that Caleres will post $2.18 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Monday, September 18th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date was Friday, September 15th. Caleres’s dividend payout ratio (DPR) is 19.86%.
In related news, SVP Douglas Koch sold 33,400 shares of the stock in a transaction on Monday, September 25th. The shares were sold at an average price of $30.03, for a total value of $1,003,002.00. Following the transaction, the senior vice president now directly owns 103,837 shares of the company’s stock, valued at approximately $3,118,225.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.20% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of CAL. BlackRock Inc. grew its position in shares of Caleres by 45,530.3% in the 1st quarter. BlackRock Inc. now owns 5,242,013 shares of the textile maker’s stock valued at $138,493,000 after buying an additional 5,230,525 shares during the last quarter. Davidson Kempner Capital Management LP purchased a new position in shares of Caleres in the 2nd quarter valued at $11,807,000. Alliancebernstein L.P. grew its position in shares of Caleres by 13.6% in the 2nd quarter. Alliancebernstein L.P. now owns 3,164,709 shares of the textile maker’s stock valued at $87,916,000 after buying an additional 379,868 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Caleres by 11.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,588,016 shares of the textile maker’s stock valued at $99,676,000 after buying an additional 367,654 shares during the last quarter. Finally, Schroder Investment Management Group purchased a new position in shares of Caleres in the 2nd quarter valued at $6,584,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.
Caleres, 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. The Company operates through two segments: Famous Footwear and Brand Portfolio.
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