Caleres Inc (CAL) Rating Lowered to Hold at Zacks Investment Research

Caleres Inc (NYSE:CAL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Monday.

According to Zacks, “Caleres, Inc. is a footwear retailer and wholesaler. The Company is involved in the operation of retail shoe stores and e-commerce Websites as well as the design, sourcing and marketing of footwear for women and men. Its operating segment consists of Famous Footwear and Brand Portfolio. The company brands include Nike, Skechers, Bearpaw, Converse, Vans, New Balance, adidas, Asics, Sperry and Sof Sole, LifeStride, Dr. Scholl’s, Fergalicious, Naturalizer and Carlos. Caleres, Inc., formerly known as Brown Shoe Company, Inc., is headquartered in St. Louis, Missouri. “

Several other brokerages have also weighed in on CAL. Jefferies Group LLC restated a “hold” rating and issued a $27.00 price objective (up previously from $24.00) on shares of Caleres in a report on Wednesday, November 23rd. Susquehanna Bancshares Inc restated a “neutral” rating and issued a $31.00 price objective on shares of Caleres in a report on Monday. Morgan Stanley upgraded Caleres from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $33.00 to $37.00 in a report on Friday, March 3rd. They noted that the move was a valuation call. Finally, CL King lowered Caleres from a “buy” rating to a “neutral” rating in a report on Tuesday, December 13th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $31.17.

Analyst Recommendations for Caleres (NYSE:CAL)

Caleres (NYSE:CAL) traded down 5.90% during mid-day trading on Monday, reaching $26.30. The company’s stock had a trading volume of 940,113 shares. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 13.64 and a beta of 0.61. Caleres has a 1-year low of $21.27 and a 1-year high of $36.61. The firm has a 50-day moving average of $30.41 and a 200 day moving average of $29.14.

Caleres (NYSE:CAL) last announced its quarterly earnings data on Thursday, March 16th. The company reported $0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.05. The firm earned $639.49 million during the quarter, compared to analyst estimates of $630.22 million. Caleres had a net margin of 3.28% and a return on equity of 13.54%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.26 EPS. Equities analysts expect that Caleres will post $2.31 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Tuesday, March 21st will be issued a $0.07 dividend. The ex-dividend date is Friday, March 17th. This represents a $0.28 annualized dividend and a dividend yield of 1.06%. Caleres’s dividend payout ratio (DPR) is 14.43%.

Your IP Address:

In other news, insider Daniel R. Freidman sold 5,000 shares of the company’s stock in a transaction on Monday, February 6th. The stock was sold at an average price of $30.63, for a total transaction of $153,150.00. Following the completion of the sale, the insider now directly owns 77,373 shares of the company’s stock, valued at $2,369,934.99. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Daniel R. Freidman sold 2,000 shares of the company’s stock in a transaction on Tuesday, January 10th. The shares were sold at an average price of $32.00, for a total value of $64,000.00. Following the sale, the insider now directly owns 84,373 shares of the company’s stock, valued at $2,699,936. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,630 shares of company stock valued at $1,470,658. Insiders own 3.20% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. BlackRock Fund Advisors increased its stake in shares of Caleres by 8.1% in the third quarter. BlackRock Fund Advisors now owns 3,067,758 shares of the company’s stock valued at $77,584,000 after buying an additional 230,781 shares in the last quarter. BlackRock Investment Management LLC increased its stake in shares of Caleres by 0.8% in the third quarter. BlackRock Investment Management LLC now owns 196,451 shares of the company’s stock valued at $4,968,000 after buying an additional 1,526 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Caleres by 15.6% in the third quarter. JPMorgan Chase & Co. now owns 528,094 shares of the company’s stock valued at $13,356,000 after buying an additional 71,077 shares in the last quarter. UBS Asset Management Americas Inc. increased its stake in shares of Caleres by 26.1% in the third quarter. UBS Asset Management Americas Inc. now owns 25,098 shares of the company’s stock valued at $635,000 after buying an additional 5,200 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Caleres by 1.8% in the third quarter. Bank of New York Mellon Corp now owns 573,955 shares of the company’s stock valued at $14,515,000 after buying an additional 10,082 shares in the last quarter. 85.77% of the stock is owned by institutional investors and hedge funds.

Caleres Company Profile

Caleres, Inc, formerly Brown Shoe Company, Inc, is a global footwear retailer and wholesaler. The Company is engaged in the operation of retail shoe stores and e-commerce Websites, as well as the design, sourcing and marketing of footwear for women and men. It operates through two segments: Famous Footwear, which includes its Famous Footwear stores and Famous.com, and Brand Portfolio, which offers retailers and consumers a portfolio of brands from its Healthy Living and Contemporary Fashion platforms.

5 Day Chart for NYSE:CAL

Get a free copy of the Zacks research report on Caleres (CAL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Caleres Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caleres Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Nike Suspends Relationship with Maria Sharapova
Nike Suspends Relationship with Maria Sharapova
Rob Bironas Ex-Titans Kicker Dies in Car Crash
Rob Bironas Ex-Titans Kicker Dies in Car Crash
Ron Washington Leaves Texas Rangers Due to an Affair
Ron Washington Leaves Texas Rangers Due to an Affair
Jonathan Dwyer Falls in Line with Other Banned NFL Players
Jonathan Dwyer Falls in Line with Other Banned NFL Players
Tony Stewart Case Going to the Grand Jury
Tony Stewart Case Going to the Grand Jury
Oscar Pistorius “Blade Runner” Found Not Guilty of Murder
Oscar Pistorius “Blade Runner” Found Not Guilty of Murder


Leave a Reply

 
© 2006-2017 Web Breaking News.