Caleres (NYSE:CAL) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

Caleres, Inc. (NYSE:CAL) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.12 and traded as high as $13.20. Caleres shares last traded at $12.83, with a volume of 655,837 shares.

Analyst Ratings Changes

CAL has been the topic of a number of research reports. Zacks Research raised shares of Caleres from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 26th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Caleres in a research note on Wednesday, January 21st. Finally, Seaport Research Partners boosted their target price on shares of Caleres from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, March 19th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $14.00.

Caleres Stock Up 7.1%

The company has a market cap of $464.28 million, a P/E ratio of -62.36 and a beta of 0.58. The firm’s 50 day moving average is $11.35 and its two-hundred day moving average is $12.13.

Caleres (NYSE:CAL) last issued its quarterly earnings data on Thursday, March 19th. The textile maker reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.04. Caleres had a negative net margin of 0.24% and a positive return on equity of 6.49%. The company had revenue of $695.06 million for the quarter, compared to analysts’ expectations of $688.43 million. During the same quarter in the previous year, the firm posted $0.33 earnings per share. Caleres’s revenue for the quarter was up 8.7% on a year-over-year basis. As a group, research analysts forecast that Caleres, Inc. will post 3.23 EPS for the current fiscal year.

Caleres Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 10th. Investors of record on Thursday, March 26th were paid a $0.07 dividend. The ex-dividend date of this dividend was Thursday, March 26th. This represents a $0.28 annualized dividend and a dividend yield of 2.0%. Caleres’s payout ratio is currently -127.27%.

Institutional Trading of Caleres

Several institutional investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company grew its position in Caleres by 5.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,363 shares of the textile maker’s stock worth $151,000 after purchasing an additional 693 shares in the last quarter. Barclays PLC grew its position in Caleres by 1.0% in the 4th quarter. Barclays PLC now owns 90,762 shares of the textile maker’s stock worth $1,105,000 after purchasing an additional 926 shares in the last quarter. Franklin Resources Inc. grew its position in Caleres by 5.6% in the 2nd quarter. Franklin Resources Inc. now owns 18,902 shares of the textile maker’s stock worth $231,000 after purchasing an additional 1,007 shares in the last quarter. Osaic Holdings Inc. grew its position in Caleres by 1,662.8% in the 2nd quarter. Osaic Holdings Inc. now owns 1,992 shares of the textile maker’s stock worth $25,000 after purchasing an additional 1,879 shares in the last quarter. Finally, Prudential Financial Inc. grew its position in Caleres by 5.8% in the 2nd quarter. Prudential Financial Inc. now owns 34,938 shares of the textile maker’s stock worth $427,000 after purchasing an additional 1,926 shares in the last quarter. Institutional investors own 98.44% of the company’s stock.

Caleres Company Profile

Caleres, Inc, formerly known as Brown Shoe Company, is a leading footwear company engaged in the design, sourcing, marketing and selling of a broad portfolio of branded and private-label shoes. The company’s operations span a range of market segments from value-priced to premium and luxury. Caleres operates through two primary segments: a retail segment anchored by the Famous Footwear banner, which includes more than 1,100 stores across North America, and a brand portfolio segment comprising owned and licensed brands such as Allen Edmonds, Naturalizer, Sam Edelman, Dr.