Caleres (CAL) Given a $38.00 Price Target at Macquarie

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Macquarie set a $38.00 price target on Caleres (NYSE:CAL) in a research note released on Friday. The brokerage currently has a buy rating on the textile maker’s stock.

A number of other brokerages also recently issued reports on CAL. Loop Capital decreased their price target on Caleres to $26.00 and set a hold rating for the company in a report on Friday. Wedbush reiterated an outperform rating on shares of Caleres in a research report on Tuesday, March 12th. Zacks Investment Research cut Caleres from a hold rating to a strong sell rating in a research report on Tuesday, November 27th. Finally, ValuEngine cut Caleres from a hold rating to a sell rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The company has an average rating of Hold and a consensus target price of $37.75.

NYSE CAL traded down $2.24 during trading on Friday, reaching $23.51. 2,053,025 shares of the company’s stock were exchanged, compared to its average volume of 521,670. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of 10.64 and a beta of 0.76. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.19 and a quick ratio of 0.39. Caleres has a 1 year low of $22.95 and a 1 year high of $41.09.

Caleres (NYSE:CAL) last announced its quarterly earnings results on Thursday, March 21st. The textile maker reported $0.38 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.07). The business had revenue of $720.26 million for the quarter, compared to analysts’ expectations of $738.12 million. Caleres had a positive return on equity of 12.79% and a negative net margin of 0.19%. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the firm earned $0.48 earnings per share. As a group, equities research analysts expect that Caleres will post 2.55 earnings per share for the current year.

Caleres announced that its board has approved a share buyback program on Friday, December 14th that permits the company to buyback 2,500,000 outstanding shares. This buyback authorization permits the textile maker to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 9th. Stockholders of record on Tuesday, March 26th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend is Monday, March 25th. Caleres’s dividend payout ratio (DPR) is currently 12.67%.

In other news, insider Daniel R. Freidman sold 5,000 shares of Caleres stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $30.00, for a total transaction of $150,000.00. Following the sale, the insider now owns 74,046 shares in the company, valued at $2,221,380. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.60% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of CAL. First Trust Advisors LP increased its position in shares of Caleres by 19.8% during the third quarter. First Trust Advisors LP now owns 65,496 shares of the textile maker’s stock worth $2,349,000 after purchasing an additional 10,817 shares in the last quarter. Russell Investments Group Ltd. increased its position in Caleres by 30.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 34,528 shares of the textile maker’s stock valued at $1,238,000 after acquiring an additional 7,981 shares during the period. American Century Companies Inc. acquired a new position in Caleres in the 3rd quarter valued at about $3,421,000. Los Angeles Capital Management & Equity Research Inc. increased its position in Caleres by 199.3% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 17,494 shares of the textile maker’s stock valued at $627,000 after acquiring an additional 11,650 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Caleres by 3.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 613,261 shares of the textile maker’s stock valued at $21,992,000 after acquiring an additional 20,474 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

About Caleres

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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