Caleres (NYSE:CAL) Reaches New 1-Year Low - What's Next?

Caleres, Inc. (NYSE:CAL - Get Free Report) reached a new 52-week low during trading on Thursday . The stock traded as low as $21.17 and last traded at $21.63, with a volume of 580465 shares trading hands. The stock had previously closed at $22.07.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CAL shares. Loop Capital cut their target price on shares of Caleres from $30.00 to $25.00 and set a "hold" rating on the stock in a research note on Friday, December 6th. StockNews.com downgraded Caleres from a "buy" rating to a "hold" rating in a report on Thursday, October 3rd.

Caleres Stock Performance

The company has a market capitalization of $727.40 million, a PE ratio of 4.82 and a beta of 1.96. The stock's 50-day simple moving average is $27.34 and its 200 day simple moving average is $32.37.

Caleres (NYSE:CAL - Get Free Report) last posted its quarterly earnings results on Thursday, December 5th. The textile maker reported $1.23 earnings per share for the quarter, missing analysts' consensus estimates of $1.38 by ($0.15). The business had revenue of $740.90 million during the quarter, compared to analyst estimates of $751.35 million. Caleres had a net margin of 5.69% and a return on equity of 22.71%. The firm's quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.37 earnings per share. On average, analysts expect that Caleres, Inc. will post 3.5 earnings per share for the current year.

Caleres Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be issued a dividend of $0.07 per share. The ex-dividend date is Friday, December 27th. This represents a $0.28 dividend on an annualized basis and a yield of 1.29%. Caleres's payout ratio is currently 6.24%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Barclays PLC grew its stake in Caleres by 108.8% during the 3rd quarter. Barclays PLC now owns 55,776 shares of the textile maker's stock worth $1,843,000 after buying an additional 29,057 shares during the last quarter. FMR LLC grew its position in shares of Caleres by 30.1% during the third quarter. FMR LLC now owns 929,968 shares of the textile maker's stock worth $30,735,000 after acquiring an additional 215,372 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Caleres by 83.8% in the 2nd quarter. Victory Capital Management Inc. now owns 61,959 shares of the textile maker's stock valued at $2,082,000 after acquiring an additional 28,250 shares during the period. Royce & Associates LP raised its position in Caleres by 13.8% in the 3rd 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. Finally, Leuthold Group LLC purchased a new stake in Caleres in the 2nd quarter valued at $2,391,000. Institutional investors and hedge funds 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.