Caleres (NYSE:CAL) Reaches New 1-Year Low - Here's Why

Shares of Caleres, Inc. (NYSE:CAL - Get Free Report) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $16.26 and last traded at $16.87, with a volume of 44355 shares. The stock had previously closed at $16.68.

Analyst Upgrades and Downgrades

Separately, Loop Capital lowered their price objective 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 Stock Performance

The business's fifty day simple moving average is $21.45 and its 200-day simple moving average is $29.78. The firm has a market capitalization of $586.76 million, a PE ratio of 3.89 and a beta of 1.92.

Caleres (NYSE:CAL - Get Free Report) last posted its earnings results on Thursday, December 5th. The textile maker reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.15). The company had revenue of $740.90 million for the quarter, compared to analysts' expectations of $751.35 million. Caleres had a net margin of 5.69% and a return on equity of 22.71%. The business's revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.37 earnings per share. Sell-side analysts expect that Caleres, Inc. will post 3.23 earnings per share for the current fiscal year.

Caleres Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a $0.07 dividend. The ex-dividend date was Friday, December 27th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.60%. Caleres's dividend payout ratio is currently 6.24%.

Insider Buying and Selling at Caleres

In other Caleres news, Director Kyle Gendreau acquired 5,000 shares of the company's stock in a transaction on Friday, January 17th. The stock was acquired at an average cost of $19.93 per share, with a total value of $99,650.00. Following the purchase, the director now directly owns 5,000 shares of the company's stock, valued at approximately $99,650. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Pacer Advisors Inc. purchased a new stake in Caleres during the third quarter valued at approximately $49,783,000. Invesco Ltd. increased its position in shares of Caleres by 48.6% during the 4th quarter. Invesco Ltd. now owns 770,518 shares of the textile maker's stock valued at $17,845,000 after purchasing an additional 252,140 shares during the last quarter. FMR LLC raised its holdings in Caleres by 30.1% during the 3rd quarter. FMR LLC now owns 929,968 shares of the textile maker's stock valued at $30,735,000 after buying an additional 215,372 shares during the period. Royce & Associates LP lifted its position in Caleres by 27.3% in the fourth quarter. Royce & Associates LP now owns 804,378 shares of the textile maker's stock worth $18,629,000 after buying an additional 172,568 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Caleres during the fourth quarter worth $3,781,000. Institutional investors 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.