Caleres Inc. (CAL) Lowered to Sell at Zacks Investment Research
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. “
CAL has been the subject of a number of other research reports. Jefferies Group cut their price target on shares of Caleres from $30.00 to $24.00 and set a hold rating for the company in a report on Friday, May 27th. BB&T Corp. raised shares of Caleres from a hold rating to a buy rating and set a $26.00 price objective on the stock in a research note on Friday, May 27th. Morgan Stanley reissued a hold rating and issued a $30.00 price objective on shares of Caleres in a research note on Wednesday, September 7th. Finally, Sterne Agee CRT reissued a buy rating and issued a $30.00 price objective on shares of Caleres in a research note on Friday, May 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $27.67.
Shares of Caleres (NYSE:CAL) opened at 25.16 on Wednesday. The stock’s 50 day moving average is $25.16 and its 200-day moving average is $25.41. Caleres has a 12 month low of $21.27 and a 12 month high of $33.19. The company has a market cap of $1.08 billion, a P/E ratio of 13.31 and a beta of 0.89.
Caleres (NYSE:CAL) last announced its quarterly earnings results on Tuesday, August 30th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by $0.04. The company earned $622.94 million during the quarter, compared to analysts’ expectations of $638.71 million. Caleres had a net margin of 3.26% and a return on equity of 13.87%. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.50 EPS. On average, equities analysts forecast that Caleres will post $0.17 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Monday, September 19th will be paid a dividend of $0.07 per share. The ex-dividend date is Thursday, September 15th. This represents a $0.28 annualized dividend and a dividend yield of 1.11%. Caleres’s dividend payout ratio is currently 14.66%.
Large investors have recently added to or reduced their stakes in the company. Paradigm Asset Management Co. LLC boosted its stake in Caleres by 466.7% in the second quarter. Paradigm Asset Management Co. LLC now owns 4,250 shares of the company’s stock valued at $103,000 after buying an additional 3,500 shares in the last quarter. PineBridge Investments L.P. boosted its stake in Caleres by 3.7% in the second quarter. PineBridge Investments L.P. now owns 5,537 shares of the company’s stock valued at $134,000 after buying an additional 199 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in Caleres by 22.8% in the second quarter. Teacher Retirement System of Texas now owns 6,250 shares of the company’s stock valued at $151,000 after buying an additional 1,159 shares in the last quarter. Quantbot Technologies LP boosted its stake in Caleres by 141.0% in the second quarter. Quantbot Technologies LP now owns 7,126 shares of the company’s stock valued at $172,000 after buying an additional 4,169 shares in the last quarter. Finally, Mason Street Advisors LLC purchased a new stake in Caleres during the second quarter valued at about $207,000. 84.67% of the stock is currently owned by institutional investors.
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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