Caleres (NYSE:CAL) Downgraded to “Buy” at StockNews.com

StockNews.com lowered shares of Caleres (NYSE:CAL) from a strong-buy rating to a buy rating in a research report report published on Thursday.

Caleres Trading Down 5.8 %

Shares of CAL traded down $2.16 during trading hours on Thursday, reaching $35.18. 139,312 shares of the stock traded hands, compared to its average volume of 479,757. Caleres has a 52-week low of $23.79 and a 52-week high of $41.94. The company’s 50-day moving average price is $34.51 and its two-hundred day moving average price is $35.65. The company has a market cap of $1.24 billion, a P/E ratio of 7.91 and a beta of 1.91.

Caleres (NYSE:CAL) last posted its earnings results on Thursday, May 30th. The textile maker reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.02. Caleres had a net margin of 5.97% and a return on equity of 27.32%. The firm had revenue of $659.20 million for the quarter, compared to the consensus estimate of $664.80 million. During the same period in the previous year, the firm posted $0.97 EPS. The business’s quarterly revenue was down .5% on a year-over-year basis. On average, research analysts forecast that Caleres will post 4.4 EPS for the current year.

Caleres Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Wednesday, June 5th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, June 5th. This represents a $0.28 annualized dividend and a yield of 0.80%. Caleres’s payout ratio is 5.93%.

Insider Activity at Caleres

In related news, CEO John W. Schmidt sold 25,332 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $37.63, for a total transaction of $953,243.16. Following the transaction, the chief executive officer now directly owns 348,771 shares in the company, valued at approximately $13,124,252.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Caleres news, Director Carla C. Hendra sold 5,349 shares of the business’s stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John W. Schmidt sold 25,332 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $37.63, for a total transaction of $953,243.16. Following the completion of the sale, the chief executive officer now directly owns 348,771 shares of the company’s stock, valued at $13,124,252.73. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 89,284 shares of company stock worth $3,195,964. Insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Caleres

Large investors have recently added to or reduced their stakes in the stock. Capstone Investment Advisors LLC purchased a new stake in Caleres in the 1st quarter valued at about $1,641,000. LSV Asset Management lifted its position in shares of Caleres by 792.6% in the 1st quarter. LSV Asset Management now owns 67,100 shares of the textile maker’s stock worth $2,753,000 after purchasing an additional 59,583 shares during the period. Caxton Associates LP purchased a new stake in shares of Caleres in the 1st quarter worth approximately $1,153,000. Sei Investments Co. purchased a new stake in shares of Caleres in the 1st quarter worth approximately $962,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Caleres by 76.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,086 shares of the textile maker’s stock worth $279,000 after purchasing an additional 3,925 shares during the period. 98.44% of the stock is owned by hedge funds and other institutional investors.

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.