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

Caleres, Inc. (NYSE:CAL) shares reached a new 52-week low on Friday . The stock traded as low as $21.93 and last traded at $21.93, with a volume of 82579 shares. The stock had previously closed at $22.49.

Analyst Ratings Changes

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

Caleres Price Performance

The stock has a market cap of $743.87 million, a P/E ratio of 4.93 and a beta of 1.92. The stock has a 50-day simple moving average of $28.01 and a 200-day simple moving average of $32.71.

Caleres (NYSE:CAL) last announced its quarterly earnings results 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 company had revenue of $740.90 million for the quarter, compared to the consensus estimate of $751.35 million. Caleres had a net margin of 5.69% and a return on equity of 22.71%. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period last year, the firm posted $1.37 earnings per share. As a group, sell-side analysts forecast 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 will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be issued a dividend of $0.07 per share. The ex-dividend date is Friday, December 27th. This represents a $0.28 annualized dividend and a dividend yield of 1.27%. Caleres’s dividend payout ratio (DPR) is presently 6.24%.

Institutional Investors Weigh In On Caleres

Several hedge funds have recently modified their holdings of CAL. Barclays PLC increased its position in Caleres by 108.8% during 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 during the period. Foundry Partners LLC acquired a new position in Caleres in the second quarter valued at approximately $500,000. FMR LLC increased its stake in shares of Caleres by 30.1% in the 3rd quarter. FMR LLC now owns 929,968 shares of the textile maker’s stock valued at $30,735,000 after acquiring an additional 215,372 shares in the last quarter. Great Lakes Advisors LLC lifted its position in shares of Caleres by 69.6% during the 2nd quarter. Great Lakes Advisors LLC now owns 193,841 shares of the textile maker’s stock valued at $6,513,000 after acquiring an additional 79,581 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in Caleres by 83.8% in the second quarter. Victory Capital Management Inc. now owns 61,959 shares of the textile maker’s stock worth $2,082,000 after purchasing an additional 28,250 shares during the period. Institutional investors and hedge funds 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.