Zacks Investment Research downgraded shares of Caleres, Inc. (NYSE:CAL) from a buy rating to a hold rating in a report published on Tuesday morning.

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 equities analysts also recently commented on the stock. BidaskClub raised shares of Caleres from a sell rating to a hold rating in a research note on Wednesday, June 14th. Susquehanna Bancshares Inc raised shares of Caleres from a neutral rating to a positive rating and set a $31.00 price objective for the company in a research note on Tuesday, May 30th. TheStreet raised shares of Caleres from a c+ rating to a b- rating in a research note on Thursday, July 27th. Finally, UBS AG raised shares of Caleres from a neutral rating to a positive rating in a research note on Tuesday, May 30th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Caleres presently has an average rating of Buy and a consensus price target of $31.80.

Shares of Caleres (NYSE:CAL) opened at 28.47 on Tuesday. The firm has a market capitalization of $1.22 billion, a P/E ratio of 20.21 and a beta of 1.06. Caleres has a one year low of $22.39 and a one year high of $36.61. The firm’s 50-day moving average price is $26.37 and its 200-day moving average price is $27.01.

Caleres (NYSE:CAL) last posted its quarterly earnings results on Tuesday, August 29th. The textile maker reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.03. The business had revenue of $677.00 million during the quarter, compared to the consensus estimate of $668.85 million. Caleres had a net margin of 2.26% and a return on equity of 13.80%. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.46 earnings per share. On average, equities analysts forecast that Caleres will post $2.18 earnings per share for the current year.

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The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Monday, September 18th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Friday, September 15th. Caleres’s dividend payout ratio (DPR) is 19.86%.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Davidson Kempner Capital Management LP purchased a new position in shares of Caleres during the second quarter valued at about $11,807,000. Verition Fund Management LLC purchased a new position in shares of Caleres during the second quarter valued at about $229,000. State Street Corp increased its position in shares of Caleres by 8.0% during the second quarter. State Street Corp now owns 1,251,450 shares of the textile maker’s stock valued at $34,764,000 after buying an additional 92,687 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Caleres by 11.4% during the second quarter. Dimensional Fund Advisors LP now owns 3,588,016 shares of the textile maker’s stock valued at $99,676,000 after buying an additional 367,654 shares during the period. Finally, Citadel Advisors LLC increased its position in shares of Caleres by 62.1% during the second quarter. Citadel Advisors LLC now owns 88,106 shares of the textile maker’s stock valued at $2,447,000 after buying an additional 33,739 shares during the period. Institutional investors own 86.37% of the company’s stock.

About Caleres

Caleres, 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. The Company operates through two segments: Famous Footwear and Brand Portfolio.

Analyst Recommendations for Caleres (NYSE:CAL)

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