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

Shares of Caleres, Inc. (NYSE:CAL) hit a new 52-week low on Thursday . The stock traded as low as $16.03 and last traded at $16.04, with a volume of 19679 shares changing hands. The stock had previously closed at $16.55.

Wall Street Analysts Forecast Growth

Separately, Loop Capital decreased their price target on Caleres from $30.00 to $25.00 and set a “hold” rating for the company in a report on Friday, December 6th.

Caleres Price Performance

The business’s fifty day simple moving average is $19.73 and its two-hundred day simple moving average is $28.42. The company has a market cap of $543.71 million, a PE ratio of 3.60 and a beta of 1.92.

Caleres (NYSE:CAL) last announced its quarterly earnings results on Thursday, December 5th. The textile maker reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.15). Caleres had a net margin of 5.69% and a return on equity of 22.71%. The business had revenue of $740.90 million during the quarter, compared to analysts’ expectations of $751.35 million. During the same quarter in the prior year, the firm earned $1.37 EPS. Caleres’s revenue for the quarter was down 2.8% on a year-over-year basis. As a group, analysts predict that Caleres, Inc. will post 3.23 EPS for the current year.

Caleres Announces Dividend

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

Insider Buying and Selling at Caleres

In other news, Director Kyle Gendreau bought 5,000 shares of Caleres stock in a transaction on Friday, January 17th. The stock was acquired 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 of the company’s stock, valued at $99,650. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.80% of the company’s stock.

Institutional Trading of Caleres

Large investors have recently made changes to their positions in the company. Pacer Advisors Inc. purchased a new stake in shares of Caleres during the third quarter worth $49,783,000. Nokomis Capital L.L.C. purchased a new stake in Caleres during the 4th quarter valued at about $18,336,000. Voloridge Investment Management LLC acquired a new stake in Caleres in the 4th quarter valued at about $8,259,000. Invesco Ltd. lifted its stake in Caleres by 48.6% in the 4th quarter. Invesco Ltd. now owns 770,518 shares of the textile maker’s stock worth $17,845,000 after purchasing an additional 252,140 shares in the last quarter. Finally, Bridgeway Capital Management LLC boosted its holdings in shares of Caleres by 579.9% during the 4th quarter. Bridgeway Capital Management LLC now owns 256,312 shares of the textile maker’s stock worth $5,936,000 after purchasing an additional 218,611 shares during the last quarter. 98.44% of the stock is currently owned by hedge funds and other 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.