Caleres, Inc. (CAL) Stock Rating Upgraded by BidaskClub
Caleres, Inc. (NYSE:CAL) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Wednesday.
CAL has been the subject of several other reports. TheStreet cut Caleres from a “b” rating to a “c+” rating in a report on Friday, April 7th. Zacks Investment Research cut Caleres from a “hold” rating to a “sell” rating in a report on Thursday, May 25th. Susquehanna Bancshares Inc reissued a “neutral” rating and issued a $31.00 price target on shares of Caleres in a report on Monday, March 20th. Wedbush started coverage on Caleres in a report on Tuesday, April 11th. They issued an “outperform” rating and a $32.00 price target for the company. Finally, Morgan Stanley raised Caleres from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $33.00 to $37.00 in a report on Friday, March 3rd. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $32.20.
Shares of Caleres (NYSE CAL) traded up 0.04% on Wednesday, reaching $27.66. The company’s stock had a trading volume of 334,373 shares. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 18.96 and a beta of 1.11. Caleres has a 1-year low of $22.40 and a 1-year high of $36.61. The stock has a 50-day moving average price of $27.08 and a 200-day moving average price of $29.61.
Caleres (NYSE:CAL) last announced its earnings results on Thursday, May 25th. The textile maker reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.03. Caleres had a return on equity of 13.80% and a net margin of 2.39%. The company had revenue of $631.50 million for the quarter, compared to the consensus estimate of $621.31 million. During the same period last year, the business posted $0.41 EPS. The company’s revenue was up 8.0% on a year-over-year basis. On average, equities research analysts forecast that Caleres will post $2.18 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Monday, June 19th will be issued a $0.07 dividend. The ex-dividend date is Thursday, June 15th. This represents a $0.28 annualized dividend and a dividend yield of 1.01%. Caleres’s dividend payout ratio is currently 19.18%.
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In other news, insider Richard M. Ausick sold 13,030 shares of the firm’s stock in a transaction that occurred on Tuesday, March 28th. The stock was sold at an average price of $26.82, for a total value of $349,464.60. Following the completion of the sale, the insider now directly owns 90,834 shares of the company’s stock, valued at approximately $2,436,167.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Diane M. Sullivan sold 3,900 shares of the firm’s stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $32.00, for a total value of $124,800.00. Following the completion of the sale, the chief executive officer now directly owns 591,523 shares of the company’s stock, valued at $18,928,736. The disclosure for this sale can be found here. Insiders sold a total of 24,483 shares of company stock valued at $672,502 over the last three months. Insiders own 3.20% of the company’s stock.
Several hedge funds have recently bought and sold shares of CAL. Martingale Asset Management L P boosted its stake in Caleres by 100.8% in the fourth quarter. Martingale Asset Management L P now owns 44,623 shares of the textile maker’s stock valued at $1,465,000 after buying an additional 22,399 shares in the last quarter. State Street Corp boosted its position in shares of Caleres by 3.1% in the fourth quarter. State Street Corp now owns 1,106,809 shares of the textile maker’s stock valued at $36,327,000 after buying an additional 33,746 shares in the last quarter. Teachers Advisors LLC boosted its position in shares of Caleres by 8.4% in the fourth quarter. Teachers Advisors LLC now owns 390,638 shares of the textile maker’s stock valued at $12,821,000 after buying an additional 30,152 shares in the last quarter. Bogle Investment Management L P DE purchased a new position in shares of Caleres during the fourth quarter valued at about $6,368,000. Finally, Russell Investments Group Ltd. purchased a new position in shares of Caleres during the fourth quarter valued at about $4,170,000. 85.30% of the stock is owned by institutional investors and hedge funds.
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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