Caleres (NYSE:CAL) Upgraded at Zacks Research

Zacks Research upgraded shares of Caleres (NYSE:CAL) from a strong sell rating to a hold rating in a research report sent to investors on Thursday,Zacks.com reports.

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of Caleres in a research note on Wednesday, January 21st. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Caleres has an average rating of “Reduce” and a consensus target price of $14.00.

Caleres Stock Down 2.0%

NYSE:CAL opened at $11.82 on Thursday. Caleres has a twelve month low of $9.54 and a twelve month high of $18.27. The company has a market cap of $400.80 million, a P/E ratio of 18.77 and a beta of 0.64. The business has a 50 day moving average price of $12.78 and a two-hundred day moving average price of $13.04.

Caleres (NYSE:CAL) last announced its earnings results on Tuesday, December 9th. The textile maker reported $0.67 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.08). The business had revenue of $790.05 million for the quarter, compared to analyst estimates of $768.59 million. Caleres had a return on equity of 8.62% and a net margin of 0.78%.The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.23 EPS. Caleres has set its FY 2025 guidance at 0.550-0.60 EPS. As a group, analysts anticipate that Caleres will post 3.23 earnings per share for the current fiscal year.

Caleres Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Friday, December 26th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Friday, December 26th. Caleres’s payout ratio is currently 44.44%.

Institutional Trading of Caleres

Hedge funds have recently added to or reduced their stakes in the company. Osaic Holdings Inc. grew its holdings in Caleres by 1,662.8% in the 2nd quarter. Osaic Holdings Inc. now owns 1,992 shares of the textile maker’s stock valued at $25,000 after buying an additional 1,879 shares in the last quarter. Global Retirement Partners LLC acquired a new position in shares of Caleres in the fourth quarter valued at about $25,000. Quadrant Capital Group LLC grew its stake in shares of Caleres by 1,032.4% in the fourth quarter. Quadrant Capital Group LLC now owns 2,412 shares of the textile maker’s stock valued at $29,000 after acquiring an additional 2,199 shares in the last quarter. CWM LLC increased its position in Caleres by 624.9% during the third quarter. CWM LLC now owns 3,639 shares of the textile maker’s stock worth $47,000 after acquiring an additional 3,137 shares during the period. Finally, State of Wyoming acquired a new stake in Caleres in the 3rd quarter worth about $56,000. 98.44% of the stock is owned by institutional investors and hedge funds.

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.