Caleres (NYSE:CAL) Price Target Cut to $14.00 by Analysts at Loop Capital

Caleres (NYSE:CAL) had its price target reduced by Loop Capital from $16.00 to $14.00 in a research note published on Friday,Benzinga reports. Loop Capital currently has a hold rating on the textile maker’s stock.

Caleres Stock Up 0.4%

Shares of NYSE CAL opened at $13.43 on Friday. Caleres has a 52 week low of $13.14 and a 52 week high of $44.51. The business has a 50-day simple moving average of $16.02 and a two-hundred day simple moving average of $19.69. The company has a market cap of $451.41 million, a P/E ratio of 2.99 and a beta of 1.11.

Caleres (NYSE:CAL) last issued its earnings results on Thursday, May 29th. The textile maker reported $0.22 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.15). Caleres had a return on equity of 22.71% and a net margin of 5.69%. The company had revenue of $614.22 million during the quarter, compared to the consensus estimate of $622.93 million. During the same quarter in the prior year, the business earned $0.88 EPS. The firm’s revenue for the quarter was down 6.8% compared to the same quarter last year. Equities research analysts anticipate that Caleres will post 3.23 EPS for the current year.

Caleres Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Thursday, June 5th will be paid a $0.07 dividend. The ex-dividend date is Thursday, June 5th. This represents a $0.28 annualized dividend and a yield of 2.08%. Caleres’s dividend payout ratio is currently 9.12%.

Insiders Place Their Bets

In other Caleres news, Director Lori Greeley purchased 9,000 shares of the company’s stock in a transaction dated Thursday, March 27th. The stock was purchased at an average price of $17.77 per share, for a total transaction of $159,930.00. Following the transaction, the director now owns 10,000 shares in the company, valued at $177,700. The trade was a 900.00% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 4.10% of the stock is owned by corporate insiders.

Institutional Trading of Caleres

A number of large investors have recently modified their holdings of CAL. Barclays PLC boosted its position in shares of Caleres by 108.8% during the 3rd quarter. Barclays PLC now owns 55,776 shares of the textile maker’s stock valued at $1,843,000 after acquiring an additional 29,057 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in shares of Caleres during the 4th quarter valued at about $59,000. Empowered Funds LLC boosted its position in shares of Caleres by 314.6% during the 4th quarter. Empowered Funds LLC now owns 156,312 shares of the textile maker’s stock valued at $3,620,000 after acquiring an additional 118,611 shares during the last quarter. Hussman Strategic Advisors Inc. bought a new stake in shares of Caleres during the 4th quarter valued at about $973,000. Finally, South Dakota Investment Council bought a new stake in shares of Caleres during the 4th quarter valued at about $892,000. Institutional investors own 98.44% of the company’s stock.

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.