Caleres (NYSE:CAL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Monday.
According to Zacks, “Caleres, Inc. is a footwear retailer and wholesaler. The Company is involved in the operation of retail shoe stores and e-commerce Websites as well as the design, sourcing and marketing of footwear for women and men. Its operating segment consists of Famous Footwear and Brand Portfolio. The company brands include Nike, Skechers, Bearpaw, Converse, Vans, New Balance, adidas, Asics, Sperry and Sof Sole, LifeStride, Dr. Scholl’s, Fergalicious, Naturalizer and Carlos. Caleres, Inc., formerly known as Brown Shoe Company, Inc., is headquartered in St. Louis, Missouri. “
Several other equities analysts also recently weighed in on the company. ValuEngine raised Caleres from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Susquehanna Bancshares reaffirmed a “neutral” rating and issued a $33.00 price objective (up from $32.00) on shares of Caleres in a research note on Tuesday, January 23rd. UBS Group downgraded Caleres from a “positive” rating to a “neutral” rating in a research note on Tuesday, January 23rd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $32.00 price objective on shares of Caleres in a research note on Wednesday, November 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $32.40.
In other Caleres news, insider Daniel R. Freidman sold 10,000 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $28.45, for a total transaction of $284,500.00. Following the completion of the transaction, the insider now owns 79,435 shares of the company’s stock, valued at $2,259,925.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Diane M. Sullivan sold 15,000 shares of the firm’s stock in a transaction on Tuesday, December 26th. The stock was sold at an average price of $34.00, for a total value of $510,000.00. Following the transaction, the chief executive officer now directly owns 609,578 shares of the company’s stock, valued at approximately $20,725,652. The disclosure for this sale can be found here. Insiders have sold 40,000 shares of company stock valued at $1,294,350 in the last three months. 6.20% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in CAL. Nationwide Fund Advisors grew its position in shares of Caleres by 24.5% in the third quarter. Nationwide Fund Advisors now owns 150,100 shares of the textile maker’s stock valued at $4,581,000 after purchasing an additional 29,559 shares during the period. Crossmark Global Holdings Inc. acquired a new position in Caleres in the third quarter valued at $382,000. State Board of Administration of Florida Retirement System boosted its holdings in Caleres by 17.7% in the third quarter. State Board of Administration of Florida Retirement System now owns 39,320 shares of the textile maker’s stock valued at $1,200,000 after acquiring an additional 5,916 shares during the last quarter. Stevens Capital Management LP boosted its holdings in Caleres by 97.9% in the third quarter. Stevens Capital Management LP now owns 27,790 shares of the textile maker’s stock valued at $848,000 after acquiring an additional 13,747 shares during the last quarter. Finally, Prudential Financial Inc. boosted its holdings in Caleres by 7.4% in the third quarter. Prudential Financial Inc. now owns 279,473 shares of the textile maker’s stock valued at $8,530,000 after acquiring an additional 19,350 shares during the last quarter. 89.68% of the stock is owned by institutional investors.
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Caleres Company Profile
Caleres, Inc is a global footwear retailer and wholesaler. The Company is engaged in the operation of retail shoe stores and e-commerce Websites, as well as the design, sourcing and marketing of footwear for women and men. The Company operates through two segments: Famous Footwear and Brand Portfolio.
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