Caleres (NYSE:CAL) Price Target Cut to $30.00 by Analysts at Loop Capital

Caleres (NYSE:CAL) had its target price trimmed by Loop Capital from $45.00 to $30.00 in a research note released on Friday, Benzinga reports. The firm currently has a hold rating on the textile maker’s stock.

Separately, StockNews.com cut Caleres from a buy rating to a hold rating in a research note on Wednesday, September 11th.

Caleres Stock Up 5.2 %

CAL opened at $31.80 on Friday. The firm’s 50 day moving average is $37.48 and its 200-day moving average is $36.85. Caleres has a 52-week low of $24.71 and a 52-week high of $44.51. The firm has a market capitalization of $1.12 billion, a P/E ratio of 6.74 and a beta of 1.93.

Caleres (NYSE:CAL) last released its quarterly earnings results on Thursday, September 12th. The textile maker reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.37). Caleres had a return on equity of 27.32% and a net margin of 5.97%. The firm had revenue of $683.30 million for the quarter, compared to analysts’ expectations of $723.80 million. During the same period last year, the firm earned $0.98 EPS. The business’s quarterly revenue was down 1.8% on a year-over-year basis. Equities analysts expect that Caleres will post 4.4 earnings per share for the current fiscal year.

Caleres Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a $0.07 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.88%. Caleres’s dividend payout ratio (DPR) is presently 5.93%.

Insider Transactions at Caleres

In other Caleres news, Director Carla C. Hendra sold 5,349 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $33.07, for a total transaction of $176,891.43. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Diane M. Sullivan sold 17,068 shares of Caleres stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $35.45, for a total value of $605,060.60. Following the completion of the transaction, the insider now directly owns 150,449 shares of the company’s stock, valued at approximately $5,333,417.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Carla C. Hendra sold 5,349 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $33.07, for a total transaction of $176,891.43. The disclosure for this sale can be found here. Corporate insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Caleres

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of Caleres by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 3,160,116 shares of the textile maker’s stock worth $129,660,000 after purchasing an additional 26,214 shares during the last quarter. American Century Companies Inc. increased its position in Caleres by 25.6% in the second quarter. American Century Companies Inc. now owns 901,852 shares of the textile maker’s stock worth $30,302,000 after buying an additional 183,594 shares during the period. Millennium Management LLC lifted its stake in Caleres by 58.8% in the second quarter. Millennium Management LLC now owns 221,082 shares of the textile maker’s stock valued at $7,428,000 after buying an additional 81,836 shares during the last quarter. Great Lakes Advisors LLC boosted its holdings in shares of Caleres by 69.6% during the second quarter. Great Lakes Advisors LLC now owns 193,841 shares of the textile maker’s stock valued at $6,513,000 after acquiring an additional 79,581 shares during the period. Finally, Quantedge Capital Pte Ltd acquired a new stake in shares of Caleres in the 4th quarter worth about $3,697,000. 98.44% of the stock is currently owned by institutional investors and hedge funds.

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.