Caleres (NYSE:CAL) Downgraded to “Hold” at StockNews.com

Caleres (NYSE:CAL) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

Separately, Loop Capital reduced their price target on Caleres from $45.00 to $30.00 and set a “hold” rating for the company in a report on Friday, September 13th.

Caleres Price Performance

CAL stock traded down $0.78 during trading on Thursday, hitting $31.21. 695,402 shares of the company traded hands, compared to its average volume of 532,053. Caleres has a 1 year low of $24.71 and a 1 year high of $44.51. The stock’s 50-day simple moving average is $37.17 and its 200 day simple moving average is $36.38. The company has a market cap of $1.10 billion, a PE ratio of 6.61 and a beta of 1.93.

Caleres (NYSE:CAL) last posted its earnings results on Thursday, September 12th. The textile maker reported $0.85 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.37). Caleres had a net margin of 5.84% and a return on equity of 24.63%. The firm had revenue of $683.30 million for the quarter, compared to analysts’ expectations of $723.80 million. During the same period last year, the firm earned $0.98 earnings per share. Caleres’s revenue for the quarter was down 1.8% compared to the same quarter last year. Research analysts expect that Caleres will post 4.04 earnings per share for the current year.

Insider Transactions at Caleres

In other news, insider Diane M. Sullivan sold 17,068 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $35.45, for a total value of $605,060.60. Following the transaction, the insider now owns 150,449 shares in the company, valued at $5,333,417.05. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Carla C. Hendra sold 5,349 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $33.07, for a total value of $176,891.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Diane M. Sullivan sold 17,068 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $35.45, for a total transaction of $605,060.60. Following the completion of the sale, the insider now directly owns 150,449 shares of the company’s stock, valued at approximately $5,333,417.05. The disclosure for this sale can be found here. Corporate insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Caleres

Institutional investors and hedge funds have recently made changes to their positions in the stock. Texas Permanent School Fund Corp boosted its holdings in Caleres by 1.2% during the 1st quarter. Texas Permanent School Fund Corp now owns 29,207 shares of the textile maker’s stock valued at $1,198,000 after acquiring an additional 348 shares during the period. SummerHaven Investment Management LLC boosted its stake in shares of Caleres by 1.4% in the second quarter. SummerHaven Investment Management LLC now owns 29,394 shares of the textile maker’s stock valued at $988,000 after purchasing an additional 409 shares during the period. New York State Teachers Retirement System grew its holdings in shares of Caleres by 0.9% in the first quarter. New York State Teachers Retirement System now owns 51,107 shares of the textile maker’s stock valued at $2,097,000 after purchasing an additional 473 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Caleres by 4.8% in the second quarter. The Manufacturers Life Insurance Company now owns 16,743 shares of the textile maker’s stock valued at $563,000 after purchasing an additional 761 shares in the last quarter. Finally, nVerses Capital LLC purchased a new stake in Caleres during the 2nd quarter worth approximately $40,000. 98.44% of the stock is owned by hedge funds and other institutional investors.

About Caleres

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.