Caleres (NYSE:CAL) Given New $16.00 Price Target at Loop Capital

Caleres (NYSE:CAL - Free Report) had its price objective decreased by Loop Capital from $17.00 to $16.00 in a research note published on Friday,Benzinga reports. Loop Capital currently has a hold rating on the textile maker's stock.

Caleres Stock Down 7.8 %

NYSE CAL traded down $1.25 on Friday, hitting $14.77. The company's stock had a trading volume of 1,711,472 shares, compared to its average volume of 704,954. The company's 50-day moving average is $16.77 and its 200 day moving average is $23.77. The firm has a market cap of $496.48 million, a PE ratio of 3.29 and a beta of 1.42. Caleres has a 1-year low of $14.33 and a 1-year high of $44.51.

Caleres (NYSE:CAL - Get Free Report) last posted its quarterly earnings data on Thursday, March 20th. The textile maker reported $0.33 earnings per share 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 business had revenue of $639.20 million during the quarter, compared to the consensus estimate of $645.79 million. During the same period in the prior year, the business posted $0.86 earnings per share. Caleres's quarterly revenue was down 8.3% on a year-over-year basis. On average, equities analysts expect that Caleres will post 3.23 EPS for the current year.

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Caleres Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, March 27th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.90%. The ex-dividend date is Thursday, March 27th. Caleres's dividend payout ratio (DPR) is presently 9.12%.

Insiders Place Their Bets

In related news, Director Kyle Gendreau acquired 5,000 shares of the business's stock in a transaction dated Friday, January 17th. The shares were bought at an average price 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 $99,650. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Lori Greeley bought 9,000 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The stock was purchased at an average cost of $17.77 per share, with a total value of $159,930.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at $177,700. This represents a 900.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 3.80% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Caleres by 1.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 531,554 shares of the textile maker's stock worth $17,568,000 after purchasing an additional 8,421 shares in the last quarter. FMR LLC raised its holdings in Caleres by 30.1% during the third quarter. FMR LLC now owns 929,968 shares of the textile maker's stock worth $30,735,000 after buying an additional 215,372 shares during the last quarter. Verition Fund Management LLC bought a new position in shares of Caleres in the third quarter valued at $863,000. State Street Corp grew its holdings in shares of Caleres by 3.1% during the third quarter. State Street Corp now owns 1,519,912 shares of the textile maker's stock valued at $50,233,000 after buying an additional 46,230 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Caleres during the third quarter worth about $228,000. Institutional investors own 98.44% of the company's stock.

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.