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

Shares of Caleres, Inc. (NYSE:CAL - Get Free Report) hit a new 52-week low on Thursday . The stock traded as low as $14.46 and last traded at $15.14, with a volume of 420711 shares trading hands. The stock had previously closed at $17.83.

Wall Street Analyst Weigh In

Separately, Loop Capital dropped their price objective on shares of Caleres from $17.00 to $16.00 and set a "hold" rating for the company in a research note on Friday.

Caleres Stock Down 7.8 %

The firm has a market capitalization of $496.48 million, a price-to-earnings ratio of 3.29 and a beta of 1.42. The stock has a 50 day moving average of $16.95 and a 200 day moving average of $23.96.

Caleres (NYSE:CAL - Get Free Report) last released its quarterly earnings results on Thursday, March 20th. The textile maker reported $0.33 EPS for the quarter, topping the consensus estimate of $0.27 by $0.06. The business had revenue of $639.20 million during the quarter, compared to analyst estimates of $645.79 million. Caleres had a net margin of 5.69% and a return on equity of 22.71%. The company's quarterly revenue was down 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.86 earnings per share. Analysts predict that Caleres, Inc. will post 3.23 earnings per share for the current year.

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Caleres Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, March 27th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, March 27th. This represents a $0.28 annualized dividend and a dividend yield of 1.90%. Caleres's dividend payout ratio is currently 9.12%.

Insider Activity

In other Caleres news, Director Kyle Gendreau purchased 5,000 shares of the business's stock in a transaction dated Friday, January 17th. The shares were bought at an average price of $19.93 per share, for a total transaction of $99,650.00. Following the completion of the acquisition, the director now owns 5,000 shares in the company, valued at approximately $99,650. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lori Greeley acquired 9,000 shares of the stock in a transaction on Thursday, March 27th. The shares were acquired at an average price of $17.77 per share, for a total transaction of $159,930.00. Following the acquisition, the director now owns 10,000 shares of the company's stock, valued at approximately $177,700. The trade was a 900.00 % increase in their position. The disclosure for this purchase can be found here. 3.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Caleres

Several hedge funds have recently bought and sold shares of CAL. Barclays PLC increased its stake in Caleres by 108.8% in 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 in the last quarter. FMR LLC raised its position in shares of Caleres by 30.1% in the 3rd quarter. FMR LLC now owns 929,968 shares of the textile maker's stock valued at $30,735,000 after purchasing an additional 215,372 shares during the last quarter. Empowered Funds LLC boosted its holdings in Caleres by 314.6% in the fourth quarter. Empowered Funds LLC now owns 156,312 shares of the textile maker's stock valued at $3,620,000 after purchasing an additional 118,611 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Caleres by 50.8% during the 4th quarter. Victory Capital Management Inc. now owns 115,443 shares of the textile maker's stock worth $2,674,000 after acquiring an additional 38,866 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Caleres by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 556,642 shares of the textile maker's stock valued at $12,892,000 after acquiring an additional 25,088 shares during 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.