Caleres (NYSE:CAL) Trading Down 5.4% – Here’s Why

Caleres, Inc. (NYSE:CAL) shares dropped 5.4% on Monday . The stock traded as low as $31.33 and last traded at $31.33. Approximately 158,742 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 538,810 shares. The stock had previously closed at $33.11.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CAL shares. StockNews.com lowered shares of Caleres from a “buy” rating to a “hold” rating in a research report on Thursday, October 3rd. Loop Capital lowered their price target on shares of Caleres from $45.00 to $30.00 and set a “hold” rating for the company in a report on Friday, September 13th.

Caleres Stock Performance

The company has a market cap of $1.09 billion, a PE ratio of 6.57 and a beta of 1.91. The company has a fifty day moving average of $36.23 and a two-hundred day moving average of $35.73.

Caleres (NYSE:CAL) last announced its earnings results on Thursday, September 12th. The textile maker reported $0.85 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.37). The firm had revenue of $683.30 million during the quarter, compared to analysts’ expectations of $723.80 million. Caleres had a net margin of 5.84% and a return on equity of 24.63%. The company’s revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.98 EPS. On average, equities analysts forecast that Caleres, Inc. will post 4.04 EPS for the current year.

Caleres Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a $0.07 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.28 annualized dividend and a dividend yield of 0.90%. Caleres’s payout ratio is 5.93%.

Hedge Funds Weigh In On Caleres

Several hedge funds have recently bought and sold shares of CAL. nVerses Capital LLC purchased a new stake in shares of Caleres during the second quarter valued at $40,000. SG Americas Securities LLC bought a new stake in Caleres during the 1st quarter valued at about $117,000. Shell Asset Management Co. purchased a new stake in Caleres in the 1st quarter valued at about $156,000. Creative Planning bought a new position in Caleres in the 3rd quarter worth about $204,000. Finally, AXA S.A. increased its position in shares of Caleres by 28.5% during the second quarter. AXA S.A. now owns 6,939 shares of the textile maker’s stock worth $233,000 after acquiring an additional 1,540 shares during the period. 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.