Caleres (CAL) Earns “Outperform” Rating from Wedbush

Wedbush reissued their outperform rating on shares of Caleres (NYSE:CAL) in a research note issued to investors on Tuesday morning.

CAL has been the topic of a number of other reports. Loop Capital set a $30.00 price target on shares of Caleres and gave the stock a hold rating in a research note on Wednesday, November 21st. ValuEngine downgraded shares of Caleres from a buy rating to a hold rating in a research note on Tuesday, November 20th. Finally, Zacks Investment Research raised shares of Caleres from a strong sell rating to a hold rating in a research note on Wednesday, January 23rd. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $39.75.

Shares of NYSE:CAL opened at $27.11 on Tuesday. 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 $26.60 and a 12-month high of $41.09. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 12.55 and a beta of 0.76.

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

The business also recently declared 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. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.03%. Caleres’s dividend payout ratio (DPR) is presently 12.96%.

In other news, insider Daniel R. Freidman sold 5,000 shares of the company’s stock in a transaction 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 5.60% of the company’s stock.

A number of institutional investors have recently bought and sold shares of CAL. First Hawaiian Bank bought a new stake in Caleres during the fourth quarter valued at about $25,000. Riverhead Capital Management LLC boosted its holdings in Caleres by 36.9% during the third quarter. Riverhead Capital Management LLC now owns 5,196 shares of the textile maker’s stock valued at $186,000 after acquiring an additional 1,400 shares during the period. Pacer Advisors Inc. boosted its holdings in Caleres by 121.5% during the third quarter. Pacer Advisors Inc. now owns 7,704 shares of the textile maker’s stock valued at $276,000 after acquiring an additional 4,226 shares during the period. Lenox Wealth Management Inc. boosted its holdings in Caleres by 3,574.6% during the fourth quarter. Lenox Wealth Management Inc. now owns 10,252 shares of the textile maker’s stock valued at $286,000 after acquiring an additional 9,973 shares during the period. Finally, Rafferty Asset Management LLC bought a new stake in Caleres during the third quarter valued at about $288,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Caleres Company Profile

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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