Caleres (NYSE:CAL) Shares Down 5.4% – Time to Sell?

Caleres, Inc. (NYSE:CAL)’s stock price was down 5.4% during mid-day trading 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 research firms have weighed in on CAL. StockNews.com lowered Caleres from a “buy” rating to a “hold” rating in a report on Thursday, October 3rd. Loop Capital reduced their target price on Caleres from $45.00 to $30.00 and set a “hold” rating on the stock in a report on Friday, September 13th.

Caleres Price Performance

The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of 6.33 and a beta of 1.91. The firm’s fifty day moving average price is $35.98 and its 200-day moving average price is $35.63.

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

Caleres Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a $0.07 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.95%. Caleres’s dividend payout ratio is presently 5.93%.

Institutional Investors Weigh In On Caleres

Several institutional investors and hedge funds have recently added to or reduced their stakes in CAL. Vanguard Group Inc. increased its stake in shares of Caleres by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 3,133,902 shares of the textile maker’s stock worth $96,305,000 after purchasing an additional 17,567 shares during the last quarter. Capstone Investment Advisors LLC purchased a new stake in shares of Caleres during the 1st quarter worth approximately $1,641,000. Mutual of America Capital Management LLC purchased a new stake in shares of Caleres during the 1st quarter worth approximately $236,000. Texas Permanent School Fund Corp increased its stake in shares of Caleres by 1.2% during the 1st quarter. Texas Permanent School Fund Corp now owns 29,207 shares of the textile maker’s stock worth $1,198,000 after purchasing an additional 348 shares during the last quarter. Finally, LSV Asset Management boosted its holdings in Caleres by 792.6% in the 1st quarter. LSV Asset Management now owns 67,100 shares of the textile maker’s stock worth $2,753,000 after buying an additional 59,583 shares during the period. Hedge funds and other 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.