Caleres (NYSE:CAL) Cut to “Strong Sell” at Zacks Research

Zacks Research lowered shares of Caleres (NYSE:CAL) from a hold rating to a strong sell rating in a research note published on Wednesday morning,Zacks.com reports.

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of Caleres in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Caleres currently has a consensus rating of “Sell” and an average target price of $14.00.

Caleres Price Performance

CAL opened at $12.21 on Wednesday. The business has a 50 day moving average price of $12.98 and a two-hundred day moving average price of $13.31. The company has a market capitalization of $413.78 million, a price-to-earnings ratio of 19.37 and a beta of 0.65. Caleres has a 1-year low of $9.54 and a 1-year high of $19.25.

Caleres (NYSE:CAL) last posted its quarterly earnings data on Tuesday, December 9th. The textile maker reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.08). The firm had revenue of $790.05 million during the quarter, compared to the consensus estimate of $768.59 million. Caleres had a return on equity of 8.62% and a net margin of 0.78%.The firm’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.23 EPS. Caleres has set its FY 2025 guidance at 0.550-0.60 EPS. Equities analysts expect that Caleres will post 3.23 EPS for the current fiscal year.

Caleres Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Friday, December 26th were given a $0.07 dividend. The ex-dividend date was Friday, December 26th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.3%. Caleres’s dividend payout ratio (DPR) is 44.44%.

Institutional Trading of Caleres

Several institutional investors and hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC grew its holdings in shares of Caleres by 143.2% during the first quarter. AQR Capital Management LLC now owns 90,546 shares of the textile maker’s stock valued at $1,560,000 after buying an additional 53,320 shares in the last quarter. Empowered Funds LLC boosted its position in Caleres by 4.2% during the 1st quarter. Empowered Funds LLC now owns 162,814 shares of the textile maker’s stock worth $2,805,000 after acquiring an additional 6,502 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Caleres by 4.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 105,137 shares of the textile maker’s stock valued at $1,812,000 after acquiring an additional 4,175 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Caleres by 15.3% in the 2nd quarter. GAMMA Investing LLC now owns 6,903 shares of the textile maker’s stock valued at $84,000 after purchasing an additional 915 shares during the period. Finally, State of Alaska Department of Revenue lifted its position in shares of Caleres by 9.1% in the second quarter. State of Alaska Department of Revenue now owns 20,325 shares of the textile maker’s stock worth $247,000 after purchasing an additional 1,691 shares in the last quarter. Institutional investors and hedge funds own 98.44% of the company’s stock.

Caleres Company Profile

Caleres, Inc, formerly known as Brown Shoe Company, is a leading footwear company engaged in the design, sourcing, marketing and selling of a broad portfolio of branded and private-label shoes. The company’s operations span a range of market segments from value-priced to premium and luxury. Caleres operates through two primary segments: a retail segment anchored by the Famous Footwear banner, which includes more than 1,100 stores across North America, and a brand portfolio segment comprising owned and licensed brands such as Allen Edmonds, Naturalizer, Sam Edelman, Dr.