Zacks Investment Research lowered shares of Caleres Inc. (NYSE:CAL) from a hold rating to a sell rating in a report issued on Wednesday.

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. “

Analyst Recommendations for Caleres (NYSE:CAL)

A number of other brokerages have also recently weighed in on CAL. BB&T Corp. restated a buy rating and set a $28.00 price objective (up from $26.00) on shares of Caleres in a research note on Saturday, June 11th. Morgan Stanley reiterated a hold rating and issued a $30.00 price target on shares of Caleres in a research report on Wednesday, September 7th. Jefferies Group dropped their price target on shares of Caleres from $30.00 to $24.00 and set a hold rating on the stock in a research report on Friday, May 27th. Finally, Sterne Agee CRT reiterated a buy rating and issued a $30.00 price target on shares of Caleres in a research report on Friday, May 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Caleres has a consensus rating of Hold and an average target price of $27.67.

Shares of Caleres (NYSE:CAL) opened at 25.16 on Wednesday. Caleres has a 1-year low of $21.27 and a 1-year high of $33.19. The firm has a market capitalization of $1.08 billion, a PE ratio of 13.31 and a beta of 0.89. The firm’s 50 day moving average is $25.16 and its 200 day moving average is $25.41.

Caleres (NYSE:CAL) last issued its quarterly earnings data on Tuesday, August 30th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by $0.04. Caleres had a net margin of 3.26% and a return on equity of 13.87%. The company had revenue of $622.94 million for the quarter, compared to the consensus estimate of $638.71 million. During the same quarter in the prior year, the firm earned $0.50 earnings per share. Caleres’s revenue for the quarter was down 2.3% compared to the same quarter last year. Analysts anticipate that Caleres will post $0.17 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Monday, September 19th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $0.28 dividend on an annualized basis and a yield of 1.11%. Caleres’s dividend payout ratio is currently 14.66%.

A number of institutional investors have recently modified their holdings of CAL. PineBridge Investments L.P. boosted its position in shares of Caleres by 3.7% in the second quarter. PineBridge Investments L.P. now owns 5,537 shares of the company’s stock worth $134,000 after buying an additional 199 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Caleres by 0.9% in the second quarter. Arizona State Retirement System now owns 22,642 shares of the company’s stock worth $548,000 after buying an additional 200 shares in the last quarter. US Bancorp DE boosted its position in shares of Caleres by 2.2% in the second quarter. US Bancorp DE now owns 10,500 shares of the company’s stock worth $254,000 after buying an additional 225 shares in the last quarter. Clark Capital Management Group Inc. boosted its position in shares of Caleres by 1.7% in the first quarter. Clark Capital Management Group Inc. now owns 20,966 shares of the company’s stock worth $593,000 after buying an additional 358 shares in the last quarter. Finally, Royal Bank of Canada boosted its position in shares of Caleres by 4.0% in the second quarter. Royal Bank of Canada now owns 9,517 shares of the company’s stock worth $230,000 after buying an additional 364 shares in the last quarter. 84.67% of the stock is currently owned by hedge funds and other institutional investors.

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.

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