Caleres (NYSE:CAL) Reaches New 52-Week Low - What's Next?

Caleres, Inc. (NYSE:CAL - Get Free Report)'s stock price reached a new 52-week low on Wednesday . The stock traded as low as $19.18 and last traded at $19.23, with a volume of 30201 shares changing hands. The stock had previously closed at $19.36.

Wall Street Analyst Weigh In

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

Caleres Price Performance

The stock has a 50-day simple moving average of $24.53 and a 200-day simple moving average of $31.11. The stock has a market cap of $646.37 million, a P/E ratio of 4.29 and a beta of 1.96.

Caleres (NYSE:CAL - Get Free Report) last released its quarterly 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). 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 the consensus estimate of $751.35 million. During the same quarter last year, the firm posted $1.37 earnings per share. The business's revenue for the quarter was down 2.8% on a year-over-year basis. As a group, sell-side analysts forecast that Caleres, Inc. will post 3.24 earnings per share for the current year.

Caleres Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.46%. The ex-dividend date was Friday, December 27th. Caleres's payout ratio is presently 6.24%.

Insider Activity at Caleres

In other Caleres news, Director Kyle Gendreau purchased 5,000 shares of the company's stock in a transaction on Friday, January 17th. The shares were purchased at an average cost of $19.93 per share, with a total value of $99,650.00. Following the completion of the purchase, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Caleres

Several institutional investors have recently added to or reduced their stakes in the business. Empowered Funds LLC raised its position in shares of Caleres by 314.6% during the fourth quarter. Empowered Funds LLC now owns 156,312 shares of the textile maker's stock worth $3,620,000 after purchasing an additional 118,611 shares during the period. Golden State Wealth Management LLC acquired a new position in shares of Caleres during the fourth quarter worth approximately $59,000. JPMorgan Chase & Co. raised its position in shares of Caleres by 42.2% during the third quarter. JPMorgan Chase & Co. now owns 418,722 shares of the textile maker's stock worth $13,839,000 after purchasing an additional 124,266 shares during the period. Principal Financial Group Inc. raised its position in shares of Caleres by 3.2% during the third quarter. Principal Financial Group Inc. now owns 1,835,057 shares of the textile maker's stock worth $60,648,000 after purchasing an additional 56,346 shares during the period. Finally, Franklin Resources Inc. raised its position in shares of Caleres by 1.7% during the third quarter. Franklin Resources Inc. now owns 27,905 shares of the textile maker's stock worth $908,000 after purchasing an additional 479 shares during the period. 98.44% of the stock is owned by institutional investors and hedge funds.

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.

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