Analysts Set Caleres, Inc. (NYSE:CAL) Target Price at $34.00

Caleres, Inc. (NYSE:CAL – Get Rating) has been assigned an average rating of “Moderate Buy” from the five analysts that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $30.00.

Several equities research analysts recently commented on the stock. Piper Sandler lowered shares of Caleres from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $35.00 to $25.00 in a research report on Thursday. StockNews.com initiated coverage on shares of Caleres in a report on Thursday, May 18th. They issued a “buy” rating on the stock.

Caleres Stock Down 8.7 %

NYSE:CAL opened at $18.51 on Friday. Caleres has a fifty-two week low of $18.22 and a fifty-two week high of $31.13. The stock has a market cap of $671.91 million, a PE ratio of 3.77 and a beta of 1.76. The firm’s fifty day simple moving average is $22.16 and its 200-day simple moving average is $23.45.

Caleres (NYSE:CAL – Get Rating) last released its quarterly earnings data on Tuesday, March 14th. The textile maker reported $0.65 EPS for the quarter, topping the consensus estimate of $0.64 by $0.01. Caleres had a net margin of 6.12% and a return on equity of 42.45%. The business had revenue of $696.40 million for the quarter, compared to analyst estimates of $691.56 million. During the same period in the previous year, the firm earned $0.91 EPS. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. Equities analysts anticipate that Caleres will post 4.18 earnings per share for the current year.

Caleres Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 6th. Shareholders of record on Thursday, March 23rd were issued a $0.07 dividend. The ex-dividend date was Wednesday, March 22nd. This represents a $0.28 dividend on an annualized basis and a yield of 1.51%. Caleres’s dividend payout ratio (DPR) is 5.70%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CAL. Dorsey Wright & Associates purchased a new position in shares of Caleres during the 4th quarter worth about $26,000. Parkside Financial Bank & Trust lifted its holdings in shares of Caleres by 65.9% during the 1st quarter. Parkside Financial Bank & Trust now owns 1,246 shares of the textile maker’s stock worth $27,000 after acquiring an additional 495 shares during the period. Acadian Asset Management LLC purchased a new position in shares of Caleres during the 1st quarter worth about $32,000. Assetmark Inc. lifted its holdings in shares of Caleres by 35.6% during the 3rd quarter. Assetmark Inc. now owns 2,183 shares of the textile maker’s stock worth $53,000 after acquiring an additional 573 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Caleres by 21.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,161 shares of the textile maker’s stock worth $115,000 after acquiring an additional 901 shares during the period. 87.46% of the stock is currently owned by hedge funds and other institutional investors.

Caleres Company Profile

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Caleres, Inc engages in the provision of athletic, casual, and dress footwear products. It operates through the Famous Footwear and Brand Portfolio segments. The Famous Footwear segment provides branded footwear for the entire family. The Brand Portfolio segment sources, manufactures, and markets branded, licensed, and private-labeled footwear primarily to online retailers, national chains, department stores, mass merchandisers, and independent retailers.