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

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

Caleres Stock Performance

Shares of Caleres stock opened at $16.00 on Friday. The company has a 50-day simple moving average of $17.02 and a two-hundred day simple moving average of $24.09. The stock has a market capitalization of $537.62 million, a PE ratio of 3.56 and a beta of 1.42. Caleres has a 52-week low of $14.38 and a 52-week high of $44.51.

Caleres (NYSE:CAL) last announced its quarterly earnings results on Thursday, March 20th. The textile maker reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.06. The company had revenue of $639.20 million during the quarter, compared to the consensus estimate of $645.79 million. Caleres had a net margin of 5.69% and a return on equity of 22.71%. The firm’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.86 earnings per share. As a group, equities research analysts forecast that Caleres will post 3.23 EPS for the current fiscal year.

Caleres Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, March 27th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date is Thursday, March 27th. Caleres’s dividend payout ratio (DPR) is 9.12%.

Insider Buying and Selling at Caleres

In other news, Director Lori Greeley bought 9,000 shares of the stock in a transaction on Thursday, March 27th. The shares were bought at an average price of $17.77 per share, with a total value of $159,930.00. Following the completion of the acquisition, the director now owns 10,000 shares in the company, valued at $177,700. The trade was a 900.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kyle Gendreau bought 5,000 shares of the company’s stock in a transaction on Friday, January 17th. The stock was purchased at an average cost of $19.93 per share, for a total transaction of $99,650.00. Following the completion of the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $99,650. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Caleres

Institutional investors have recently made changes to their positions in the business. Versant Capital Management Inc increased its holdings in Caleres by 244.0% during the first quarter. Versant Capital Management Inc now owns 1,455 shares of the textile maker’s stock valued at $25,000 after buying an additional 1,032 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of Caleres by 254.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,733 shares of the textile maker’s stock valued at $40,000 after acquiring an additional 1,244 shares during the period. Golden State Wealth Management LLC purchased a new stake in shares of Caleres in the 4th quarter worth $59,000. Lee Danner & Bass Inc. bought a new position in Caleres in the 4th quarter worth $81,000. Finally, Canada Pension Plan Investment Board purchased a new position in Caleres during the fourth quarter valued at $86,000. Institutional investors 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.