Caleres (NYSE:CAL) Reaches New 52-Week Low – Here’s Why

Caleres, Inc. (NYSE:CAL) shares hit a new 52-week low during trading on Wednesday . The stock traded as low as $15.24 and last traded at $16.42, with a volume of 1188336 shares traded. The stock had previously closed at $16.10.

Analysts Set New Price Targets

Separately, Loop Capital reduced their target price on Caleres from $30.00 to $25.00 and set a “hold” rating on the stock in a report on Friday, December 6th.

Caleres Trading Up 2.9 %

The firm has a market capitalization of $568.50 million, a price-to-earnings ratio of 3.77 and a beta of 1.92. The firm has a fifty day moving average price of $18.91 and a 200 day moving average price of $27.56.

Caleres (NYSE:CAL) last posted 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 return on equity of 22.71% and a net margin of 5.69%. The firm had revenue of $740.90 million for the quarter, compared to analyst estimates of $751.35 million. During the same period in the prior year, the company posted $1.37 EPS. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. As a group, equities analysts predict that Caleres, Inc. will post 3.23 EPS for the current fiscal year.

Caleres Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.66%. The ex-dividend date was Friday, December 27th. Caleres’s dividend payout ratio is 6.24%.

Insiders Place Their Bets

In other news, Director Kyle Gendreau acquired 5,000 shares of Caleres stock in a transaction on Friday, January 17th. The shares were purchased at an average price of $19.93 per share, with a total value of $99,650.00. Following the acquisition, the director now owns 5,000 shares in the company, valued at $99,650. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Smartleaf Asset Management LLC raised its position in shares of Caleres by 254.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,733 shares of the textile maker’s stock valued at $40,000 after acquiring an additional 1,244 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in shares of Caleres during the 4th quarter valued at $59,000. Lee Danner & Bass Inc. bought a new stake in shares of Caleres during the 4th quarter valued at $81,000. Canada Pension Plan Investment Board bought a new stake in shares of Caleres during the 4th quarter valued at $86,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Caleres during the 4th quarter valued at $149,000. Institutional investors and hedge funds 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.