Loop Capital Lowers Caleres (NYSE:CAL) Price Target to $16.00

Caleres (NYSE:CAL - Free Report) had its target price trimmed by Loop Capital from $17.00 to $16.00 in a research report released on Friday,Benzinga reports. The firm currently has a hold rating on the textile maker's stock.

Caleres Trading Up 16.1 %

Caleres stock traded up $2.38 during midday trading on Friday, reaching $17.15. 1,838,316 shares of the stock traded hands, compared to its average volume of 710,166. The firm has a fifty day moving average price of $16.71 and a two-hundred day moving average price of $23.62. Caleres has a fifty-two week low of $14.33 and a fifty-two week high of $44.51. The firm has a market cap of $576.45 million, a price-to-earnings ratio of 3.82 and a beta of 1.42.

Caleres (NYSE:CAL - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The textile maker reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.27 by $0.06. Caleres had a return on equity of 22.71% and a net margin of 5.69%. The company had revenue of $639.20 million for the quarter, compared to analyst estimates of $645.79 million. During the same period last year, the company earned $0.86 earnings per share. The company's quarterly revenue was down 8.3% compared to the same quarter last year. Analysts anticipate that Caleres will post 3.23 earnings per share for the current year.

Caleres Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, March 27th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, March 27th. This represents a $0.28 annualized dividend and a dividend yield of 1.63%. Caleres's payout ratio is 9.12%.

Insider Activity

In other Caleres news, Director Lori Greeley purchased 9,000 shares of the firm's stock in a transaction on 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 purchase, the director now directly owns 10,000 shares of the company's stock, valued at approximately $177,700. This represents a 900.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kyle Gendreau purchased 5,000 shares of the company's stock in a transaction that occurred on Friday, January 17th. The stock was acquired at an average cost of $19.93 per share, with a total value of $99,650.00. Following the transaction, the director now directly owns 5,000 shares of the company's stock, valued at approximately $99,650. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.80% of the stock is owned by company insiders.

Institutional Trading of Caleres

A number of large investors have recently bought and sold shares of CAL. Versant Capital Management Inc increased its position in shares of Caleres by 244.0% during the 1st quarter. Versant Capital Management Inc now owns 1,455 shares of the textile maker's stock worth $25,000 after purchasing an additional 1,032 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Caleres by 254.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,733 shares of the textile maker's stock worth $40,000 after acquiring an additional 1,244 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in Caleres during the 4th quarter worth approximately $59,000. Lee Danner & Bass Inc. acquired a new stake in Caleres during the 4th quarter valued at $81,000. Finally, Canada Pension Plan Investment Board bought a new position in Caleres in the 4th quarter valued at $86,000. 98.44% of the stock is currently owned by institutional investors.

About Caleres

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.