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

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

Wall Street Analysts Forecast Growth

CAL has been the subject of several analyst reports. Loop Capital lowered their price target on shares of Caleres from $30.00 to $25.00 and set a “hold” rating for the company in a report on Friday, December 6th. StockNews.com downgraded shares of Caleres from a “buy” rating to a “hold” rating in a research note on Thursday, October 3rd.

Caleres Stock Down 1.8 %

The stock has a market capitalization of $665.03 million, a price-to-earnings ratio of 4.40 and a beta of 1.96. The stock has a fifty day moving average of $26.06 and a 200-day moving average of $31.75.

Caleres (NYSE:CAL) last issued its earnings results 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 analyst estimates of $751.35 million. During the same quarter in the previous year, the company posted $1.37 EPS. The company’s quarterly revenue was down 2.8% on a year-over-year basis. On average, equities analysts forecast that Caleres, Inc. will post 3.5 EPS for the current fiscal year.

Caleres Dividend Announcement

The company 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. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date was Friday, December 27th. Caleres’s dividend payout ratio (DPR) is currently 6.24%.

Institutional Investors Weigh In On Caleres

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC increased its holdings in shares of Caleres by 108.8% in 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 during the period. FMR LLC increased its stake in Caleres by 30.1% in 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 during the period. Royce & Associates LP raised its holdings in shares of 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 buying an additional 76,837 shares during the last quarter. Leuthold Group LLC acquired a new stake in shares of Caleres during the second quarter worth about $2,391,000. Finally, Maverick Capital Ltd. purchased a new position in shares of Caleres during the third quarter worth about $1,038,000. Hedge funds and other institutional investors own 98.44% of the company’s stock.

Caleres Company Profile

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.