Caleres (NYSE:CAL) Stock Rating Lowered by StockNews.com

Caleres (NYSE:CAL – Get Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

A number of other analysts also recently issued reports on CAL. CL King reduced their price objective on Caleres from $37.00 to $35.00 in a research note on Thursday, November 17th. Piper Sandler raised shares of Caleres from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $26.00 to $35.00 in a research note on Tuesday, February 21st.

Caleres Trading Down 0.5 %

Shares of CAL stock opened at $23.35 on Wednesday. Caleres has a 12-month low of $18.98 and a 12-month high of $31.13. The stock has a market capitalization of $831.73 million, a P/E ratio of 5.01 and a beta of 1.75. The firm’s 50 day moving average is $24.71 and its 200 day moving average is $24.63.

Caleres (NYSE:CAL – Get Rating) last released its quarterly earnings results on Tuesday, March 14th. The textile maker reported $0.65 EPS for the quarter, beating the consensus estimate of $0.64 by $0.01. Caleres had a net margin of 5.92% and a return on equity of 48.52%. The firm had revenue of $696.40 million during the quarter, compared to analyst estimates of $691.56 million. During the same quarter in the prior year, the firm earned $0.91 EPS. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, equities analysts predict that Caleres will post 4.2 earnings per share for the current year.

Insider Buying and Selling at Caleres

In other Caleres news, insider Diane M. Sullivan sold 19,900 shares of the stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $26.99, for a total transaction of $537,101.00. Following the transaction, the insider now directly owns 125,291 shares of the company’s stock, valued at $3,381,604.09. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Caleres news, insider Diane M. Sullivan sold 1,500 shares of the stock in a transaction that occurred on Monday, February 6th. The shares were sold at an average price of $26.20, for a total transaction of $39,300.00. Following the sale, the insider now directly owns 111,516 shares in the company, valued at approximately $2,921,719.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Diane M. Sullivan sold 19,900 shares of Caleres stock in a transaction dated Thursday, February 2nd. The shares were sold at an average price of $26.99, for a total value of $537,101.00. Following the completion of the transaction, the insider now owns 125,291 shares of the company’s stock, valued at approximately $3,381,604.09. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,580 shares of company stock valued at $659,476. Corporate insiders own 4.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. grew its stake in Caleres by 5.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 25,194 shares of the textile maker’s stock worth $561,000 after buying an additional 1,275 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its holdings in shares of Caleres by 8.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 32,232 shares of the textile maker’s stock worth $718,000 after purchasing an additional 2,463 shares during the period. Point72 Middle East FZE purchased a new position in Caleres during the 4th quarter worth $143,000. Legal & General Group Plc lifted its stake in shares of Caleres by 1.4% in the 4th quarter. Legal & General Group Plc now owns 88,884 shares of the textile maker’s stock worth $1,980,000 after acquiring an additional 1,222 shares during the period. Finally, Morgan Stanley boosted its holdings in shares of Caleres by 15.0% in the fourth quarter. Morgan Stanley now owns 373,066 shares of the textile maker’s stock valued at $8,312,000 after acquiring an additional 48,623 shares in the last quarter. Hedge funds and other institutional investors own 87.46% of the company’s stock.

Caleres Company Profile

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Caleres, Inc engages in the retail and wholesale of footwear. It operates through the following segments: Famous Footwear, Brand Portfolio, and Other. The Famous Footwear segment provides brand-name athletic, casual, and dress shoes for the entire family. The Brand Portfolio segment offers retailers and consumers a portfolio of brands by designing, developing, sourcing, manufacturing, and marketing branded footwear for women and men.