Caleres (NYSE:CAL) Reaches New 52-Week Low – Time to Sell?

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 traded. The stock had previously closed at $22.07.

Wall Street Analysts Forecast Growth

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

Caleres Price Performance

The stock’s 50-day simple moving average is $27.52 and its two-hundred day simple moving average is $32.44. The firm has a market cap of $727.40 million, a P/E ratio of 4.82 and a beta of 1.96.

Caleres (NYSE:CAL) last issued its quarterly earnings results on Thursday, December 5th. The textile maker reported $1.23 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 the consensus estimate of $751.35 million. Caleres had a net margin of 5.69% and a return on equity of 22.71%. The business’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.37 earnings per share. As a group, sell-side analysts expect that Caleres, Inc. will post 3.5 earnings per share for the current year.

Caleres Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date is Friday, December 27th. Caleres’s dividend payout ratio is currently 6.24%.

Hedge Funds Weigh In On Caleres

Hedge funds have recently bought and sold shares of the business. Pacer Advisors Inc. bought a new stake in shares of Caleres during the third quarter worth $49,783,000. FMR LLC increased its position in shares of Caleres by 30.1% during the third quarter. FMR LLC now owns 929,968 shares of the textile maker’s stock worth $30,735,000 after acquiring an additional 215,372 shares during the period. American Century Companies Inc. raised its stake in shares of Caleres by 25.6% during the second quarter. American Century Companies Inc. now owns 901,852 shares of the textile maker’s stock valued at $30,302,000 after acquiring an additional 183,594 shares in the last quarter. Landscape Capital Management L.L.C. purchased a new stake in shares of Caleres in the third quarter valued at approximately $4,184,000. Finally, JPMorgan Chase & Co. grew its stake in Caleres by 42.2% in the third quarter. JPMorgan Chase & Co. now owns 418,722 shares of the textile maker’s stock worth $13,839,000 after purchasing an additional 124,266 shares in the last quarter. 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.