Caleres (CAL) Earns “Outperform” Rating from Wedbush

Wedbush reaffirmed their outperform rating on shares of Caleres (NYSE:CAL) in a report released on Tuesday morning.

Several other equities analysts have also recently issued reports on CAL. ValuEngine cut shares of Caleres from a buy rating to a hold rating in a research note on Tuesday, November 20th. Loop Capital set a $30.00 price objective on shares of Caleres and gave the stock a hold rating in a research note on Wednesday, November 21st. Finally, Zacks Investment Research cut shares of Caleres from a hold rating to a strong sell rating in a research note on Tuesday, November 27th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Caleres has a consensus rating of Hold and a consensus price target of $39.75.

Shares of CAL opened at $26.60 on Tuesday. The company has a market capitalization of $1.17 billion, a PE ratio of 12.31 and a beta of 0.76. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.39 and a current ratio of 1.19. Caleres has a 12-month low of $26.52 and a 12-month high of $41.09.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 9th. Stockholders of record on Tuesday, March 26th will be paid a $0.07 dividend. The ex-dividend date is Monday, March 25th. This represents a $0.28 annualized dividend and a dividend yield of 1.05%. Caleres’s dividend payout ratio is currently 12.96%.

Caleres declared that its board has authorized a stock repurchase program on Friday, December 14th that permits the company to repurchase 2,500,000 outstanding shares. This repurchase authorization permits the textile maker to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

In other news, insider Daniel R. Freidman sold 5,000 shares of Caleres stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $30.00, for a total value of $150,000.00. Following the transaction, the insider now directly owns 74,046 shares of the company’s stock, valued at $2,221,380. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 5.60% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc grew its position in Caleres by 8.9% during the third quarter. Legal & General Group Plc now owns 102,127 shares of the textile maker’s stock valued at $3,665,000 after purchasing an additional 8,324 shares in the last quarter. Macquarie Group Ltd. grew its position in Caleres by 76.0% during the third quarter. Macquarie Group Ltd. now owns 1,378,173 shares of the textile maker’s stock valued at $49,421,000 after purchasing an additional 594,937 shares in the last quarter. Vanguard Group Inc grew its position in Caleres by 2.0% during the third quarter. Vanguard Group Inc now owns 3,975,221 shares of the textile maker’s stock valued at $142,551,000 after purchasing an additional 78,692 shares in the last quarter. Royce & Associates LP grew its position in Caleres by 94.0% during the fourth quarter. Royce & Associates LP now owns 725,923 shares of the textile maker’s stock valued at $20,202,000 after purchasing an additional 351,780 shares in the last quarter. Finally, First Trust Advisors LP grew its position in Caleres by 19.8% during the third quarter. First Trust Advisors LP now owns 65,496 shares of the textile maker’s stock valued at $2,349,000 after purchasing an additional 10,817 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

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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