Caleres (NYSE:CAL) Hits New 52-Week Low – What’s Next?

Caleres, Inc. (NYSE:CAL)’s share price hit a new 52-week low on Tuesday . The stock traded as low as $23.72 and last traded at $23.88, with a volume of 739589 shares traded. The stock had previously closed at $23.81.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CAL shares. Loop Capital reduced their price objective on Caleres from $30.00 to $25.00 and set a “hold” rating for the company in a research note on Friday, December 6th. StockNews.com downgraded Caleres from a “buy” rating to a “hold” rating in a research note on Thursday, October 3rd.

Caleres Trading Up 0.3 %

The company has a market cap of $803.06 million, a PE ratio of 5.34 and a beta of 1.92. The business’s 50 day moving average is $30.26 and its two-hundred day moving average is $33.68.

Caleres (NYSE:CAL) 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 return on equity of 22.71% and a net margin of 5.69%. The business had revenue of $740.90 million for the quarter, compared to analysts’ expectations of $751.35 million. During the same quarter in the prior year, the business posted $1.37 EPS. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, equities research analysts predict that Caleres, Inc. will post 3.5 EPS for the current fiscal year.

Caleres Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be given 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 dividend yield of 1.17%. Caleres’s payout ratio is 6.24%.

Hedge Funds Weigh In On Caleres

Several institutional investors have recently added to or reduced their stakes in the company. nVerses Capital LLC purchased a new position in shares of Caleres in the 2nd quarter worth $40,000. Creative Planning bought a new stake in Caleres in the third quarter worth $204,000. Y Intercept Hong Kong Ltd purchased a new position in Caleres during the third quarter worth $228,000. AXA S.A. increased its position in Caleres by 28.5% during the second quarter. AXA S.A. now owns 6,939 shares of the textile maker’s stock valued at $233,000 after acquiring an additional 1,540 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of 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 valued at $243,000 after acquiring an additional 7,201 shares during the period. Hedge funds and other 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.