Caleres (NYSE:CAL) Price Target Cut to $14.00 by Analysts at Loop Capital

Caleres (NYSE:CAL) had its price target cut by Loop Capital from $16.00 to $14.00 in a research report report published on Friday,Benzinga reports. They currently have a hold rating on the textile maker’s stock.

Caleres Price Performance

NYSE:CAL opened at $13.43 on Friday. The business has a 50 day moving average of $16.02 and a 200 day moving average of $19.69. The company has a market capitalization of $451.41 million, a price-to-earnings ratio of 2.99 and a beta of 1.11. Caleres has a 1-year low of $13.14 and a 1-year high of $44.51.

Caleres (NYSE:CAL) last announced its quarterly earnings data on Thursday, May 29th. The textile maker reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.15). Caleres had a net margin of 5.69% and a return on equity of 22.71%. The company had revenue of $614.22 million during the quarter, compared to the consensus estimate of $622.93 million. During the same quarter in the previous year, the firm posted $0.88 EPS. The business’s revenue for the quarter was down 6.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Caleres will post 3.23 EPS for the current year.

Caleres Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Thursday, June 5th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend is Thursday, June 5th. Caleres’s dividend payout ratio is 9.12%.

Insider Transactions at Caleres

In other news, Director Lori Greeley bought 9,000 shares of the business’s stock in a transaction dated Thursday, March 27th. The shares were purchased at an average price of $17.77 per share, for a total transaction of $159,930.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at approximately $177,700. This trade represents a 900.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 4.10% of the company’s stock.

Institutional Trading of Caleres

Several large investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Caleres by 3.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,448 shares of the textile maker’s stock valued at $450,000 after acquiring an additional 643 shares in the last quarter. SummerHaven Investment Management LLC boosted its holdings in Caleres by 3.3% in the first quarter. SummerHaven Investment Management LLC now owns 24,569 shares of the textile maker’s stock valued at $423,000 after acquiring an additional 785 shares in the last quarter. Versant Capital Management Inc boosted its holdings in Caleres by 244.0% in the first quarter. Versant Capital Management Inc now owns 1,455 shares of the textile maker’s stock valued at $25,000 after acquiring an additional 1,032 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in Caleres by 6.0% in the fourth quarter. MetLife Investment Management LLC now owns 20,870 shares of the textile maker’s stock valued at $483,000 after acquiring an additional 1,177 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in Caleres by 254.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,733 shares of the textile maker’s stock valued at $40,000 after acquiring an additional 1,244 shares in the last quarter. 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.