Caleres (NYSE:CAL) Cut to Hold at StockNews.com

07 Oct 2024, 01:21 by Teresa Graham · The Cerbat Gem

StockNews.com downgraded shares of Caleres (NYSE:CAL – Free Report) from a buy rating to a hold rating in a research note published on Thursday morning.

Separately, Loop Capital lowered their price objective on shares of Caleres from $45.00 to $30.00 and set a hold rating for the company in a research report on Friday, September 13th.

Check Out Our Latest Report on Caleres

Caleres Stock Performance

CAL opened at $32.51 on Thursday. Caleres has a 1 year low of $24.71 and a 1 year high of $44.51. The firm has a 50 day moving average price of $36.96 and a 200 day moving average price of $36.25. The company has a market cap of $1.14 billion, a PE ratio of 6.89 and a beta of 1.91.

Caleres (NYSE:CAL – Get Free Report) last issued its earnings results on Thursday, September 12th. The textile maker reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.37). Caleres had a net margin of 5.84% and a return on equity of 24.63%. The business had revenue of $683.30 million during the quarter, compared to analysts’ expectations of $723.80 million. During the same period in the prior year, the business posted $0.98 EPS. The business’s revenue was down 1.8% on a year-over-year basis. On average, sell-side analysts predict that Caleres will post 4.04 earnings per share for the current year.

Caleres Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date was Friday, September 13th. Caleres’s payout ratio is 5.93%.

Insider Activity at Caleres

In related news, Director Carla C. Hendra sold 5,349 shares of Caleres stock in a transaction on Monday, July 15th. The shares were sold at an average price of $33.07, for a total value of $176,891.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Diane M. Sullivan sold 17,068 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $35.45, for a total value of $605,060.60. Following the completion of the sale, the insider now directly owns 150,449 shares in the company, valued at approximately $5,333,417.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carla C. Hendra sold 5,349 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $33.07, for a total value of $176,891.43. The disclosure for this sale can be found here. 3.80% of the stock is currently owned by company insiders.

Institutional Trading of Caleres

Several institutional investors have recently added to or reduced their stakes in the business. nVerses Capital LLC bought a new stake in shares of Caleres in the 2nd quarter worth approximately $40,000. SG Americas Securities LLC bought a new stake in Caleres in the first quarter valued at $117,000. Shell Asset Management Co. acquired a new position in shares of Caleres during the first quarter valued at $156,000. AXA S.A. grew its position in shares of Caleres by 28.5% during the second quarter. AXA S.A. now owns 6,939 shares of the textile maker’s stock worth $233,000 after acquiring an additional 1,540 shares during the last quarter. Finally, Mutual of America Capital Management LLC acquired a new stake in shares of Caleres in the 1st quarter worth about $236,000. Institutional investors own 98.44% of the company’s stock.

Caleres Company Profile

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