Caleres (NYSE:CAL) Price Target Lowered to $35.00 at CL King

Caleres (NYSE:CALGet Rating) had its target price reduced by CL King from $37.00 to $35.00 in a research report released on Thursday morning, The Fly reports.

Several other brokerages also recently weighed in on CAL. TheStreet downgraded Caleres from a b- rating to a c rating in a report on Friday, August 26th. StockNews.com assumed coverage on Caleres in a report on Wednesday, October 12th. They issued a buy rating for the company. Finally, Piper Sandler assumed coverage on Caleres in a report on Tuesday, October 25th. They issued a neutral rating and a $28.00 price target for the company.

Caleres Price Performance

Shares of Caleres stock opened at $27.62 on Thursday. Caleres has a 1 year low of $17.82 and a 1 year high of $31.13. The company has a market capitalization of $1.01 billion, a P/E ratio of 5.39 and a beta of 1.76. The business has a 50 day moving average price of $25.82 and a 200 day moving average price of $26.38.

Caleres (NYSE:CALGet Rating) last issued its quarterly earnings data on Tuesday, August 23rd. The textile maker reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.06. Caleres had a return on equity of 57.75% and a net margin of 6.65%. The firm had revenue of $738.33 million during the quarter, compared to the consensus estimate of $736.05 million. During the same period in the previous year, the firm posted $1.19 EPS. As a group, research analysts expect that Caleres will post 4.28 EPS for the current fiscal year.

Caleres Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 9th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, September 8th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.01%. Caleres’s payout ratio is 5.47%.

Insider Transactions at Caleres

In other news, CEO Diane M. Sullivan sold 7,700 shares of the company’s stock in a transaction on Friday, November 4th. The stock was sold at an average price of $26.93, for a total transaction of $207,361.00. Following the completion of the sale, the chief executive officer now directly owns 182,676 shares in the company, valued at approximately $4,919,464.68. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Diane M. Sullivan sold 7,700 shares of the company’s stock in a transaction on Friday, November 4th. The stock was sold at an average price of $26.93, for a total transaction of $207,361.00. Following the completion of the sale, the chief executive officer now directly owns 182,676 shares in the company, valued at approximately $4,919,464.68. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Diane M. Sullivan sold 3,300 shares of the company’s stock in a transaction on Thursday, November 10th. The stock was sold at an average price of $27.26, for a total value of $89,958.00. Following the sale, the chief executive officer now owns 176,936 shares of the company’s stock, valued at $4,823,275.36. The disclosure for this sale can be found here. Insiders sold a total of 25,520 shares of company stock worth $692,710 in the last ninety days. Insiders own 4.90% of the company’s stock.

Institutional Trading of Caleres

Institutional investors have recently added to or reduced their stakes in the business. Truist Financial Corp boosted its position in Caleres by 39.7% during the 2nd quarter. Truist Financial Corp now owns 38,262 shares of the textile maker’s stock worth $1,004,000 after purchasing an additional 10,865 shares during the period. Acadian Asset Management LLC boosted its position in Caleres by 2.4% during the 1st quarter. Acadian Asset Management LLC now owns 334,351 shares of the textile maker’s stock worth $6,459,000 after purchasing an additional 7,705 shares during the period. State of Tennessee Treasury Department boosted its position in Caleres by 155.3% during the 1st quarter. State of Tennessee Treasury Department now owns 31,177 shares of the textile maker’s stock worth $602,000 after purchasing an additional 18,967 shares during the period. AdvisorShares Investments LLC purchased a new stake in Caleres during the 2nd quarter worth $186,000. Finally, Assetmark Inc. purchased a new stake in Caleres during the 2nd quarter worth $42,000. 86.70% of the stock is owned by hedge funds and other institutional investors.

About Caleres

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Caleres, Inc engages in the retail and wholesale of footwear in the United States, Canada, China, and Guam. It operates through Famous Footwear and Brand Portfolio segments. The company offers licensed, branded, and private-label athletic, casual, and dress footwear products to women, men, and children.

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