Caleres (NYSE:CAL) Sets New 52-Week Low – What’s Next?

Caleres, Inc. (NYSE:CAL) shares reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $16.26 and last traded at $16.87, with a volume of 44355 shares changing hands. The stock had previously closed at $16.68.

Wall Street Analysts Forecast Growth

Separately, Loop Capital lowered their price objective on Caleres from $30.00 to $25.00 and set a “hold” rating on the stock in a research report on Friday, December 6th.

Caleres Price Performance

The stock has a 50-day moving average of $22.38 and a 200-day moving average of $30.15. The firm has a market cap of $576.92 million, a price-to-earnings ratio of 3.82 and a beta of 1.92.

Caleres (NYSE:CAL) last posted its quarterly earnings results on Thursday, December 5th. The textile maker reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.15). The company had revenue of $740.90 million during the quarter, compared to analyst estimates of $751.35 million. Caleres had a net margin of 5.69% and a return on equity of 22.71%. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period last year, the firm earned $1.37 EPS. On average, equities analysts expect that Caleres, Inc. will post 3.23 EPS for the current fiscal year.

Caleres Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were paid a $0.07 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $0.28 dividend on an annualized basis and a yield of 1.63%. Caleres’s dividend payout ratio (DPR) is 6.24%.

Insiders Place Their Bets

In other Caleres news, Director Kyle Gendreau bought 5,000 shares of the stock in a transaction on Friday, January 17th. The stock was purchased at an average price of $19.93 per share, with a total value of $99,650.00. Following the completion of the purchase, the director now owns 5,000 shares in the company, valued at $99,650. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Caleres

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Smartleaf Asset Management LLC grew its stake in shares of Caleres by 254.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,733 shares of the textile maker’s stock worth $40,000 after buying an additional 1,244 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of Caleres during the 4th quarter valued at $59,000. nVerses Capital LLC grew its position in Caleres by 125.0% during the 3rd quarter. nVerses Capital LLC now owns 2,700 shares of the textile maker’s stock worth $89,000 after acquiring an additional 1,500 shares during the last quarter. Creative Planning acquired a new position in Caleres in the 3rd quarter worth about $204,000. Finally, Y Intercept Hong Kong Ltd bought a new position in Caleres in the third quarter valued at about $228,000. 98.44% of the stock is owned by institutional investors.

About Caleres

Caleres, Inc engages in the retail and wholesale of footwear business in the United States, Canada, East Asia, and internationally. It operates through Famous Footwear and Brand Portfolio segments. The company offers licensed, branded, and private-label athletic, casual, and dress footwear products. The company provides brand name athletic, casual, and dress shoes, including Nike, Skechers, adidas, Vans, Crocs, Converse, Puma, Birkenstock, New Balance, Under Armour, Dr.