Caleres (NYSE:CAL) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Caleres (NYSE:CAL - Free Report) from a hold rating to a buy rating in a research note released on Thursday morning.

Separately, Loop Capital cut their price objective on shares of Caleres from $45.00 to $30.00 and set a hold rating on the stock in a report on Friday, September 13th.

Caleres Price Performance

Shares of CAL stock traded up $1.04 on Thursday, hitting $34.00. The stock had a trading volume of 275,087 shares, compared to its average volume of 510,193. Caleres has a 1 year low of $24.71 and a 1 year high of $44.51. The company's 50 day moving average price is $37.51 and its 200-day moving average price is $36.74. The firm has a market capitalization of $1.19 billion, a P/E ratio of 6.98 and a beta of 1.93.

Caleres (NYSE:CAL - Get Free Report) last posted its quarterly earnings results on Thursday, September 12th. The textile maker reported $0.85 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.22 by ($0.37). The company had revenue of $683.30 million during the quarter, compared to analyst estimates of $723.80 million. Caleres had a net margin of 5.97% and a return on equity of 27.32%. Caleres's revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.98 EPS. On average, equities analysts forecast that Caleres will post 4.4 EPS for the current year.

Caleres Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.28 dividend on an annualized basis and a yield of 0.82%. Caleres's payout ratio is currently 5.93%.

Insider Transactions at Caleres

In related news, Director Carla C. Hendra sold 5,349 shares of Caleres stock in a transaction on Monday, July 15th. The shares were sold at an average price of $33.07, for a total value of $176,891.43. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Caleres news, Director Carla C. Hendra sold 5,349 shares of the business's stock in a transaction on Monday, July 15th. The shares were sold at an average price of $33.07, for a total transaction of $176,891.43. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Diane M. Sullivan sold 17,068 shares of Caleres stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $35.45, for a total value of $605,060.60. Following the transaction, the insider now directly owns 150,449 shares of the company's stock, valued at approximately $5,333,417.05. The disclosure for this sale can be found here. Insiders own 3.80% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC acquired a new stake in Caleres during the second quarter worth about $1,448,000. The Manufacturers Life Insurance Company increased its position in shares of Caleres by 4.8% in the second quarter. The Manufacturers Life Insurance Company now owns 16,743 shares of the textile maker's stock worth $563,000 after acquiring an additional 761 shares in the last quarter. Millennium Management LLC raised its stake in shares of Caleres by 58.8% in the 2nd quarter. Millennium Management LLC now owns 221,082 shares of the textile maker's stock valued at $7,428,000 after acquiring an additional 81,836 shares during the period. Dark Forest Capital Management LP acquired a new stake in Caleres in the 2nd quarter valued at $364,000. Finally, AXA S.A. grew its stake in shares of Caleres by 28.5% in the second quarter. AXA S.A. now owns 6,939 shares of the textile maker's stock valued at $233,000 after buying an additional 1,540 shares in the last quarter. Institutional investors and hedge funds 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.