Caleres (NYSE:CAL) Reaches New 52-Week Low – Here’s What Happened

Caleres, Inc. (NYSE:CAL)’s stock price reached a new 52-week low during trading on Thursday . The company traded as low as $16.03 and last traded at $16.04, with a volume of 19679 shares traded. The stock had previously closed at $16.55.

Wall Street Analysts Forecast Growth

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

Caleres Stock Up 0.9 %

The firm has a fifty day simple moving average of $19.45 and a 200-day simple moving average of $28.19. The company has a market cap of $543.61 million, a PE ratio of 3.60 and a beta of 1.92.

Caleres (NYSE:CAL) last issued its quarterly earnings data on Thursday, December 5th. The textile maker reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.15). The firm had revenue of $740.90 million for the quarter, compared to analysts’ expectations of $751.35 million. Caleres had a return on equity of 22.71% and a net margin of 5.69%. During the same period in the previous year, the business posted $1.37 EPS. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. Equities research analysts forecast that Caleres, Inc. will post 3.23 earnings per share for the current fiscal year.

Caleres Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date was Friday, December 27th. Caleres’s dividend payout ratio is currently 6.24%.

Insider Buying and Selling

In related news, Director Kyle Gendreau purchased 5,000 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were purchased at an average price of $19.93 per share, with a total value of $99,650.00. Following the completion of the acquisition, the director now directly owns 5,000 shares in the company, valued at $99,650. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Caleres

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Creative Planning acquired a new stake in shares of Caleres during the 3rd quarter valued at approximately $204,000. Louisiana State Employees Retirement System lifted its position in shares of Caleres by 2.4% during the 3rd quarter. Louisiana State Employees Retirement System now owns 17,000 shares of the textile maker’s stock valued at $562,000 after acquiring an additional 400 shares during the period. State of Alaska Department of Revenue lifted its position in shares of Caleres by 3.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 20,047 shares of the textile maker’s stock valued at $662,000 after acquiring an additional 628 shares during the period. Janney Montgomery Scott LLC lifted its position in shares of Caleres by 2.2% during the 3rd quarter. Janney Montgomery Scott LLC now owns 78,281 shares of the textile maker’s stock valued at $2,587,000 after acquiring an additional 1,676 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of Caleres by 3.2% during the 3rd quarter. Principal Financial Group Inc. now owns 1,835,057 shares of the textile maker’s stock worth $60,648,000 after purchasing an additional 56,346 shares during the last quarter. Hedge funds and other institutional investors own 98.44% of the company’s stock.

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.