Caleres (NYSE:CAL) Price Target Cut to $14.00 by Analysts at Loop Capital

Caleres (NYSE:CAL - Free Report) had its target price reduced by Loop Capital from $16.00 to $14.00 in a research report report published on Friday morning,Benzinga reports. They currently have a hold rating on the textile maker's stock.

Caleres Price Performance

CAL traded up $0.17 during trading on Friday, reaching $13.35. 1,127,722 shares of the company's stock were exchanged, compared to its average volume of 799,680. Caleres has a 1 year low of $13.00 and a 1 year high of $44.51. The company's fifty day simple moving average is $15.94 and its 200-day simple moving average is $19.41. The stock has a market capitalization of $448.72 million, a P/E ratio of 2.97 and a beta of 1.11.

Caleres (NYSE:CAL - Get Free Report) last posted its earnings results on Thursday, May 29th. The textile maker reported $0.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.37 by ($0.15). The business had revenue of $614.22 million for the quarter, compared to analyst estimates of $622.93 million. Caleres had a net margin of 5.69% and a return on equity of 22.71%. The company's revenue for the quarter was down 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.88 earnings per share. Equities analysts forecast that Caleres will post 3.23 EPS for the current year.

Caleres Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Thursday, June 5th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend is Thursday, June 5th. Caleres's dividend payout ratio (DPR) is presently 11.67%.

Insiders Place Their Bets

In other Caleres news, Director Lori Greeley bought 9,000 shares of the stock in a transaction on Thursday, March 27th. The shares were bought at an average price of $17.77 per share, with a total value of $159,930.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at $177,700. This trade represents a 900.00% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Caleres

Hedge funds and other institutional investors have recently modified their holdings of the business. Versant Capital Management Inc grew its stake in Caleres by 244.0% during the 1st quarter. Versant Capital Management Inc now owns 1,455 shares of the textile maker's stock valued at $25,000 after acquiring an additional 1,032 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Caleres by 254.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,733 shares of the textile maker's stock worth $40,000 after purchasing an additional 1,244 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of Caleres in the fourth quarter valued at approximately $59,000. Lee Danner & Bass Inc. acquired a new stake in Caleres during the fourth quarter worth about $81,000. Finally, Canada Pension Plan Investment Board purchased a new position in Caleres during the fourth quarter worth about $86,000. 98.44% of the stock is owned by hedge funds and other institutional investors.

Caleres Company Profile

Caleres, Inc engages in the retail and wholesale of footwear business in the United States, Canada, East Asia, and internationally. It operates through Famous Footwear and Brand Portfolio segments. The company offers licensed, branded, and private-label athletic, casual, and dress footwear products. The company provides brand name athletic, casual, and dress shoes, including Nike, Skechers, adidas, Vans, Crocs, Converse, Puma, Birkenstock, New Balance, Under Armour, Dr.