Caleres (NYSE:CAL) Sets New 1-Year Low - Here's What Happened

Caleres, Inc. (NYSE:CAL - Get Free Report)'s stock price hit a new 52-week low during trading on Friday . The company traded as low as $21.93 and last traded at $21.93, with a volume of 82579 shares. The stock had previously closed at $22.49.

Analyst Upgrades and Downgrades

CAL has been the topic of several analyst reports. StockNews.com cut shares of Caleres from a "buy" rating to a "hold" rating in a research note on Thursday, October 3rd. Loop Capital reduced their price target on Caleres from $30.00 to $25.00 and set a "hold" rating on the stock in a research report on Friday, December 6th.

Caleres Trading Down 2.8 %

The stock's 50-day moving average price is $27.87 and its 200-day moving average price is $32.63. The stock has a market cap of $735.47 million, a price-to-earnings ratio of 4.87 and a beta of 1.92.

Caleres (NYSE:CAL - Get Free Report) last released 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 firm 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 firm earned $1.37 EPS. Caleres's quarterly revenue was down 2.8% on a year-over-year basis. As a group, analysts predict that Caleres, Inc. will post 3.5 earnings per share for the current year.

Caleres Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $0.28 annualized dividend and a yield of 1.28%. Caleres's dividend payout ratio is currently 6.24%.

Institutional Trading of Caleres

Several hedge funds have recently modified their holdings of the stock. nVerses Capital LLC bought a new stake in Caleres in the second quarter valued at $40,000. Creative Planning acquired a new stake in shares of Caleres in the 3rd quarter valued at about $204,000. Y Intercept Hong Kong Ltd bought a new stake in Caleres in the 3rd quarter valued at about $228,000. AXA S.A. raised its stake in Caleres by 28.5% during the 2nd quarter. AXA S.A. now owns 6,939 shares of the textile maker's stock worth $233,000 after buying an additional 1,540 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Caleres by 31,308.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 7,224 shares of the textile maker's stock worth $243,000 after acquiring an additional 7,201 shares in the last quarter. 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.