Caleres (NYSE:CAL) Sets New 52-Week Low – Here’s Why

Caleres, Inc. (NYSE:CAL) shares hit a new 52-week low on Thursday . The stock traded as low as $21.17 and last traded at $21.63, with a volume of 580465 shares trading hands. The stock had previously closed at $22.07.

Analysts Set New Price Targets

Several analysts recently commented on CAL shares. Loop Capital reduced their target price on shares of Caleres from $30.00 to $25.00 and set a “hold” rating for the company in a report on Friday, December 6th. StockNews.com cut Caleres from a “buy” rating to a “hold” rating in a report on Thursday, October 3rd.

Caleres Trading Down 1.8 %

The stock has a market cap of $712.60 million, a P/E ratio of 4.72 and a beta of 1.96. The firm has a 50-day simple moving average of $27.01 and a two-hundred day simple moving average of $32.20.

Caleres (NYSE:CAL) last released 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 business had revenue of $740.90 million for the quarter, compared to the consensus estimate of $751.35 million. Caleres had a return on equity of 22.71% and a net margin of 5.69%. Caleres’s revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.37 earnings per share. Sell-side analysts predict that Caleres, Inc. will post 3.5 earnings per share for the current year.

Caleres Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.32%. The ex-dividend date was Friday, December 27th. Caleres’s dividend payout ratio (DPR) is currently 6.24%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC boosted its stake in shares of Caleres by 108.8% in the 3rd quarter. Barclays PLC now owns 55,776 shares of the textile maker’s stock valued at $1,843,000 after purchasing an additional 29,057 shares in the last quarter. FMR LLC boosted its position in Caleres by 30.1% in the third quarter. FMR LLC now owns 929,968 shares of the textile maker’s stock valued at $30,735,000 after buying an additional 215,372 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Caleres by 83.8% during the second quarter. Victory Capital Management Inc. now owns 61,959 shares of the textile maker’s stock worth $2,082,000 after buying an additional 28,250 shares during the last quarter. Royce & Associates LP increased its holdings in shares of Caleres by 13.8% during the third quarter. Royce & Associates LP now owns 631,810 shares of the textile maker’s stock worth $20,881,000 after buying an additional 76,837 shares in the last quarter. Finally, Leuthold Group LLC bought a new position in shares of Caleres in the 2nd quarter valued at $2,391,000. Institutional investors own 98.44% of the company’s stock.

Caleres Company Profile

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.