Loop Capital Trims Caleres (NYSE:CAL) Target Price to $26.00

Caleres (NYSE:CAL) had its price target trimmed by Loop Capital to $26.00 in a research note issued to investors on Friday, March 22nd, The Fly reports. The firm currently has a hold rating on the textile maker’s stock.

A number of other brokerages also recently issued reports on CAL. Zacks Investment Research downgraded shares of Caleres from a hold rating to a strong sell rating in a research report on Tuesday, November 27th. Wedbush reissued an outperform rating on shares of Caleres in a research report on Tuesday, March 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The stock has an average rating of Hold and an average target price of $39.25.

Shares of CAL traded up $0.83 on Friday, reaching $26.69. The company’s stock had a trading volume of 709,650 shares, compared to its average volume of 470,012. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.14 and a quick ratio of 0.34. Caleres has a twelve month low of $22.85 and a twelve month high of $41.09. The firm has a market capitalization of $1.08 billion, a PE ratio of 12.08 and a beta of 0.73.

Caleres (NYSE:CAL) last posted its earnings results on Thursday, March 21st. The textile maker reported $0.38 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.07). Caleres had a positive return on equity of 13.26% and a negative net margin of 0.19%. The business had revenue of $720.26 million during the quarter, compared to analyst estimates of $738.12 million. During the same quarter in the prior year, the company earned $0.48 EPS. The company’s revenue was up 2.5% on a year-over-year basis. As a group, analysts expect that Caleres will post 2.52 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 9th. Investors of record on Tuesday, March 26th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.05%. The ex-dividend date was Monday, March 25th. Caleres’s dividend payout ratio (DPR) is presently 12.67%.

In related news, insider Daniel R. Freidman sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $30.00, for a total value of $150,000.00. Following the completion of the transaction, the insider now directly owns 74,046 shares of the company’s stock, valued at approximately $2,221,380. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.60% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CAL. BlackRock Inc. lifted its stake in Caleres by 2.5% in the 4th quarter. BlackRock Inc. now owns 6,239,781 shares of the textile maker’s stock worth $173,655,000 after purchasing an additional 153,855 shares in the last quarter. Vanguard Group Inc lifted its stake in Caleres by 2.0% in the 3rd quarter. Vanguard Group Inc now owns 3,975,221 shares of the textile maker’s stock worth $142,551,000 after purchasing an additional 78,692 shares in the last quarter. Vanguard Group Inc. lifted its stake in Caleres by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 3,975,221 shares of the textile maker’s stock worth $142,551,000 after purchasing an additional 78,692 shares in the last quarter. Franklin Resources Inc. lifted its stake in Caleres by 3.9% in the 3rd quarter. Franklin Resources Inc. now owns 3,272,167 shares of the textile maker’s stock worth $117,340,000 after purchasing an additional 121,360 shares in the last quarter. Finally, Macquarie Group Ltd. lifted its stake in Caleres by 2.3% in the 4th quarter. Macquarie Group Ltd. now owns 1,410,505 shares of the textile maker’s stock worth $39,254,000 after purchasing an additional 32,332 shares in the last quarter. 91.59% of the stock is owned by institutional investors.

About Caleres

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

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