Caleres (CAL) Downgraded by Zacks Investment Research to Hold

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Zacks Investment Research lowered shares of Caleres (NYSE:CAL) from a buy rating to a hold rating in a research report report published on Tuesday.

According to Zacks, “Caleres, Inc. is a footwear retailer and wholesaler. The Company is involved in the operation of retail shoe stores and e-commerce Websites as well as the design, sourcing and marketing of footwear for women and men. Its operating segment consists of Famous Footwear and Brand Portfolio. The company brands include Nike, Skechers, Bearpaw, Converse, Vans, New Balance, adidas, Asics, Sperry and Sof Sole, LifeStride, Dr. Scholl’s, Fergalicious, Naturalizer and Carlos. Caleres, Inc., formerly known as Brown Shoe Company, Inc., is headquartered in St. Louis, Missouri. “

Other equities research analysts also recently issued reports about the company. ValuEngine raised Caleres from a hold rating to a buy rating in a research report on Friday, October 12th. Loop Capital set a $37.00 price objective on Caleres and gave the company a hold rating in a report on Tuesday, September 4th. Macquarie lifted their price objective on Caleres from $38.00 to $42.00 and gave the company an outperform rating in a report on Wednesday, September 5th. Finally, Wedbush lifted their price objective on Caleres from $38.00 to $42.00 and gave the company an outperform rating in a report on Wednesday, August 29th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $39.50.

CAL stock opened at $34.98 on Tuesday. Caleres has a twelve month low of $26.54 and a twelve month high of $41.09. The stock has a market cap of $1.43 billion, a P/E ratio of 16.19 and a beta of 0.90. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.53 and a current ratio of 1.73.

Caleres (NYSE:CAL) last released its earnings results on Tuesday, September 4th. The textile maker reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). Caleres had a return on equity of 13.94% and a net margin of 3.39%. The firm had revenue of $706.61 million for the quarter, compared to analyst estimates of $709.15 million. During the same period last year, the business earned $0.48 earnings per share. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. On average, sell-side analysts predict that Caleres will post 2.5 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Shareholders of record on Monday, September 17th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date was Friday, September 14th. Caleres’s payout ratio is 12.96%.

In other Caleres news, CEO Diane M. Sullivan sold 20,000 shares of Caleres stock in a transaction that occurred on Tuesday, August 28th. The stock was sold at an average price of $38.28, for a total transaction of $765,600.00. Following the sale, the chief executive officer now directly owns 473,534 shares of the company’s stock, valued at $18,126,881.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Douglas Koch sold 10,000 shares of Caleres stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $38.00, for a total value of $380,000.00. Following the sale, the insider now directly owns 97,501 shares in the company, valued at $3,705,038. The disclosure for this sale can be found here. Insiders have sold 40,000 shares of company stock worth $1,518,900 over the last ninety days. Company insiders own 5.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Legal & General Group Plc raised its stake in shares of Caleres by 6.5% in the second quarter. Legal & General Group Plc now owns 93,803 shares of the textile maker’s stock valued at $3,252,000 after acquiring an additional 5,685 shares during the last quarter. Voya Investment Management LLC raised its stake in shares of Caleres by 6.0% in the second quarter. Voya Investment Management LLC now owns 540,736 shares of the textile maker’s stock valued at $18,596,000 after acquiring an additional 30,751 shares during the last quarter. Dalton Greiner Hartman Maher & Co. raised its stake in shares of Caleres by 12.9% in the third quarter. Dalton Greiner Hartman Maher & Co. now owns 622,567 shares of the textile maker’s stock valued at $22,325,000 after acquiring an additional 71,315 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Caleres by 6.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 464,900 shares of the textile maker’s stock valued at $15,988,000 after acquiring an additional 27,677 shares during the last quarter. Finally, Segall Bryant & Hamill LLC bought a new position in shares of Caleres in the second quarter valued at approximately $12,885,000. 90.11% of the stock is currently owned by institutional investors.

Caleres Company Profile

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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