Telsey Advisory Group Increases Caleres (NYSE:CAL) Price Target to $32.00

Caleres (NYSE:CALGet Rating) had its price objective upped by Telsey Advisory Group to $32.00 in a report published on Wednesday, Stock Target Advisor reports. Telsey Advisory Group also issued estimates for Caleres’ Q2 2023 earnings at $1.32 EPS, Q3 2023 earnings at $1.08 EPS, Q4 2023 earnings at $0.65 EPS, FY2023 earnings at $4.38 EPS, Q1 2024 earnings at $1.49 EPS, Q2 2024 earnings at $1.40 EPS, Q3 2024 earnings at $1.15 EPS, Q4 2024 earnings at $0.71 EPS and FY2024 earnings at $4.75 EPS.

Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Caleres from a buy rating to a hold rating in a research report on Tuesday, March 15th. StockNews.com upgraded Caleres from a buy rating to a strong-buy rating in a report on Monday, April 11th. Two research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Caleres has a consensus rating of Strong Buy and a consensus target price of $33.00.

NYSE CAL opened at $29.63 on Wednesday. Caleres has a 52 week low of $17.82 and a 52 week high of $29.94. The business has a 50 day moving average price of $22.47 and a 200-day moving average price of $22.70. The company has a market cap of $1.13 billion, a price-to-earnings ratio of 6.29 and a beta of 2.09.

Caleres (NYSE:CALGet Rating) last announced its quarterly earnings results on Tuesday, May 24th. The textile maker reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.49. Caleres had a net margin of 6.31% and a return on equity of 62.60%. The business had revenue of $735.12 million during the quarter, compared to analyst estimates of $677.28 million. During the same quarter in the previous year, the business posted $0.60 EPS. Caleres’s quarterly revenue was up 15.1% on a year-over-year basis. On average, equities analysts expect that Caleres will post 4.32 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 29th. Investors of record on Friday, June 10th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.94%. The ex-dividend date is Thursday, June 9th. Caleres’s dividend payout ratio (DPR) is presently 5.94%.

In other Caleres news, CAO Todd E. Hasty bought 2,500 shares of the firm’s stock in a transaction dated Thursday, March 17th. The stock was purchased at an average cost of $21.00 per share, with a total value of $52,500.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Daniel R. Freidman sold 6,000 shares of the business’s stock in a transaction dated Wednesday, May 25th. The stock was sold at an average price of $26.61, for a total transaction of $159,660.00. Following the completion of the transaction, the insider now directly owns 69,498 shares in the company, valued at $1,849,341.78. The disclosure for this sale can be found here. Insiders sold a total of 45,176 shares of company stock valued at $1,131,633 over the last ninety days. 4.90% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the company. Paradigm Capital Management Inc. NY lifted its position in shares of Caleres by 28.1% during the 1st quarter. Paradigm Capital Management Inc. NY now owns 1,077,600 shares of the textile maker’s stock valued at $20,830,000 after buying an additional 236,500 shares during the last quarter. Neuberger Berman Group LLC raised its stake in Caleres by 2.2% in the 1st quarter. Neuberger Berman Group LLC now owns 798,318 shares of the textile maker’s stock valued at $15,443,000 after acquiring an additional 17,061 shares during the period. Point72 Hong Kong Ltd lifted its holdings in Caleres by 523.5% during the first quarter. Point72 Hong Kong Ltd now owns 9,191 shares of the textile maker’s stock valued at $178,000 after purchasing an additional 7,717 shares during the last quarter. Polar Asset Management Partners Inc. bought a new position in Caleres during the first quarter worth about $15,766,000. Finally, First Manhattan Co. increased its stake in shares of Caleres by 62.5% in the first quarter. First Manhattan Co. now owns 319,852 shares of the textile maker’s stock worth $6,182,000 after purchasing an additional 123,000 shares in the last quarter. Institutional investors own 81.45% of the company’s stock.

About Caleres (Get Rating)

Caleres, Inc engages in the retail and wholesale of footwear in the United States, Canada, China, and Guam. It operates through Famous Footwear and Brand Portfolio segments. The company offers licensed, branded, and private-label athletic, casual, and dress footwear products to women, men, and children.

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