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

Caleres, Inc. (NYSE:CAL) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $17.12 and last traded at $17.19, with a volume of 1019199 shares. The stock had previously closed at $18.33.

Analysts Set New Price Targets

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 research note on Friday, December 6th.

Caleres Stock Down 6.2 %

The firm’s fifty day moving average price is $23.82 and its 200 day moving average price is $30.79. The stock has a market cap of $578.23 million, a PE ratio of 3.83 and a beta of 1.92.

Caleres (NYSE:CAL) last released 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). Caleres had a net margin of 5.69% and a return on equity of 22.71%. The business had revenue of $740.90 million for the quarter, compared to analysts’ expectations of $751.35 million. During the same period in the previous year, the company earned $1.37 EPS. Caleres’s revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, analysts anticipate that Caleres, Inc. will post 3.23 earnings per share for the current fiscal year.

Caleres Announces Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 1.63%. Caleres’s dividend payout ratio (DPR) is 6.24%.

Insider Buying and Selling

In other news, Director Kyle Gendreau bought 5,000 shares of the stock in a transaction on Friday, January 17th. The stock was acquired at an average cost of $19.93 per share, for a total transaction of $99,650.00. Following the acquisition, the director now owns 5,000 shares of the company’s stock, valued at $99,650. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.80% of the stock is currently owned by insiders.

Institutional Trading of Caleres

Institutional investors and hedge funds have recently made changes to their positions in the company. Barclays PLC boosted its position in Caleres by 108.8% during the 3rd quarter. Barclays PLC now owns 55,776 shares of the textile maker’s stock valued at $1,843,000 after acquiring an additional 29,057 shares in the last quarter. FMR LLC boosted its position in Caleres by 30.1% during the third quarter. FMR LLC now owns 929,968 shares of the textile maker’s stock valued at $30,735,000 after purchasing an additional 215,372 shares in the last quarter. Royce & Associates LP grew its stake in Caleres by 13.8% in the third quarter. Royce & Associates LP now owns 631,810 shares of the textile maker’s stock valued at $20,881,000 after purchasing an additional 76,837 shares during the last quarter. Geode Capital Management LLC raised its holdings in Caleres by 3.6% in the third quarter. Geode Capital Management LLC now owns 792,057 shares of the textile maker’s stock worth $26,183,000 after purchasing an additional 27,291 shares in the last quarter. Finally, Maverick Capital Ltd. purchased a new stake in shares of Caleres during the third quarter valued at about $1,038,000. 98.44% of the stock is currently owned by 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.