Caleres (NYSE:CAL) Sets New 12-Month Low – Here’s Why

Shares of Caleres, Inc. (NYSE:CAL) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $19.18 and last traded at $19.23, with a volume of 30201 shares trading hands. The stock had previously closed at $19.36.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CAL shares. StockNews.com downgraded Caleres from a “buy” rating to a “hold” rating in a research note on Thursday, October 3rd. Loop Capital reduced their price objective on Caleres from $30.00 to $25.00 and set a “hold” rating for the company in a research note on Friday, December 6th.

Caleres Stock Performance

The business has a 50 day moving average of $24.31 and a 200-day moving average of $31.02. The company has a market capitalization of $641.16 million, a P/E ratio of 4.25 and a beta of 1.96.

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 analysts’ consensus estimates of $1.38 by ($0.15). The firm had revenue of $740.90 million during the quarter, compared to analysts’ expectations of $751.35 million. Caleres had a return on equity of 22.71% and a net margin of 5.69%. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.37 earnings per share. As a group, equities analysts forecast that Caleres, Inc. will post 3.23 EPS for the current fiscal year.

Caleres Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given a dividend of $0.07 per share. The ex-dividend date was Friday, December 27th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.47%. Caleres’s dividend payout ratio (DPR) is currently 6.24%.

Insider Activity at Caleres

In other news, Director Kyle Gendreau bought 5,000 shares of the business’s stock in a transaction dated Friday, January 17th. The shares were purchased at an average price of $19.93 per share, for a total transaction of $99,650.00. Following the completion of the acquisition, the director now owns 5,000 shares of the company’s stock, valued at approximately $99,650. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 3.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Golden State Wealth Management LLC purchased a new position in Caleres during the fourth quarter valued at $59,000. nVerses Capital LLC boosted its stake in Caleres by 125.0% during the third quarter. nVerses Capital LLC now owns 2,700 shares of the textile maker’s stock worth $89,000 after acquiring an additional 1,500 shares in the last quarter. Creative Planning bought a new position in shares of Caleres during the third quarter valued at approximately $204,000. Y Intercept Hong Kong Ltd bought a new stake in Caleres in the 3rd quarter worth approximately $228,000. Finally, AXA S.A. lifted its holdings in shares of Caleres by 28.5% during the 2nd quarter. AXA S.A. now owns 6,939 shares of the textile maker’s stock valued at $233,000 after buying an additional 1,540 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.