Caleres (NYSE:CAL) Sets New 52-Week Low – Here’s What Happened

Caleres, Inc. (NYSE:CAL) shares hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $19.86 and last traded at $19.98, with a volume of 86931 shares. The stock had previously closed at $20.54.

Analyst Ratings Changes

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

Caleres Stock Down 1.8 %

The company has a market cap of $665.03 million, a PE ratio of 4.40 and a beta of 1.96. The stock has a 50-day simple moving average of $26.06 and a 200 day simple moving average of $31.75.

Caleres (NYSE:CAL) last issued its quarterly earnings data 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). Caleres had a net margin of 5.69% and a return on equity of 22.71%. The company had revenue of $740.90 million during the quarter, compared to analysts’ expectations of $751.35 million. During the same quarter last year, the firm posted $1.37 earnings per share. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. As a group, research analysts anticipate that Caleres, Inc. will post 3.5 earnings per share for the current fiscal year.

Caleres Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend was Friday, December 27th. Caleres’s payout ratio is 6.24%.

Hedge Funds Weigh In On Caleres

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Louisiana State Employees Retirement System boosted its stake in shares of Caleres by 2.4% in the third quarter. Louisiana State Employees Retirement System now owns 17,000 shares of the textile maker’s stock valued at $562,000 after purchasing an additional 400 shares during the period. Franklin Resources Inc. grew its stake in shares of Caleres by 1.7% in the third quarter. Franklin Resources Inc. now owns 27,905 shares of the textile maker’s stock worth $908,000 after acquiring an additional 479 shares in the last quarter. State of Alaska Department of Revenue grew its stake in shares of Caleres by 3.2% in the third quarter. State of Alaska Department of Revenue now owns 20,047 shares of the textile maker’s stock worth $662,000 after acquiring an additional 628 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Caleres by 4.8% during the second quarter. The Manufacturers Life Insurance Company now owns 16,743 shares of the textile maker’s stock worth $563,000 after acquiring an additional 761 shares during the period. Finally, Quest Partners LLC raised its stake in shares of Caleres by 6.6% in the third quarter. Quest Partners LLC now owns 14,028 shares of the textile maker’s stock valued at $464,000 after acquiring an additional 869 shares in 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.