Caleres (CAL) Lifted to Buy at Loop Capital
Loop Capital upgraded shares of Caleres (NYSE:CAL) from a hold rating to a buy rating in a research note released on Wednesday morning, Benzinga reports. The firm currently has $32.00 target price on the textile maker’s stock, up from their prior target price of $26.00.
CAL has been the topic of a number of other reports. Zacks Investment Research raised Caleres from a sell rating to a hold rating in a research report on Tuesday, April 2nd. Macquarie set a $38.00 target price on Caleres and gave the stock a buy rating in a research report on Friday, March 22nd. Wedbush reaffirmed an outperform rating on shares of Caleres in a research report on Tuesday, March 12th. ValuEngine lowered Caleres from a hold rating to a sell rating in a research report on Friday, March 22nd. Finally, TheStreet lowered Caleres from a b- rating to a c rating in a research report on Friday, March 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $39.25.
Caleres stock opened at $25.86 on Wednesday. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 11.70 and a beta of 0.73. Caleres has a 52-week low of $22.85 and a 52-week high of $41.09. The company has a current ratio of 1.14, a quick ratio of 0.34 and a debt-to-equity ratio of 0.31.
The company also recently announced a quarterly dividend, which was paid on Tuesday, April 9th. Stockholders of record on Tuesday, March 26th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date was Monday, March 25th. Caleres’s payout ratio is 12.67%.
In related news, insider Daniel R. Freidman sold 5,000 shares of the stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $30.00, for a total value of $150,000.00. Following the completion of the sale, the insider now directly owns 74,046 shares of the company’s stock, valued at approximately $2,221,380. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 5.60% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. OMERS ADMINISTRATION Corp purchased a new stake in Caleres in the 4th quarter valued at $448,000. American Century Companies Inc. raised its position in Caleres by 81.1% in the 4th quarter. American Century Companies Inc. now owns 172,743 shares of the textile maker’s stock valued at $4,807,000 after buying an additional 77,334 shares during the last quarter. Geode Capital Management LLC raised its position in Caleres by 9.8% in the 4th quarter. Geode Capital Management LLC now owns 464,980 shares of the textile maker’s stock valued at $12,939,000 after buying an additional 41,504 shares during the last quarter. Norges Bank purchased a new stake in Caleres in the 4th quarter valued at $28,085,000. Finally, APG Asset Management N.V. raised its position in Caleres by 2.3% in the 4th quarter. APG Asset Management N.V. now owns 119,300 shares of the textile maker’s stock valued at $2,904,000 after buying an additional 2,700 shares during the last quarter. 91.59% of the stock is owned by institutional investors and hedge funds.
Caleres, Inc engages in the retail and wholesale of footwear in the United States, Canada, Guam, and Italy. It operates through Famous Footwear and Brand Portfolio segments. The company offers licensed, branded, and private-label casual, dress, and athletic footwear products to women, men, and children.
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