Caleres (NYSE:CAL) Reaches New 12-Month Low – Time to Sell?

Caleres, Inc. (NYSE:CAL)’s share price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $16.16 and last traded at $16.23, with a volume of 230649 shares. The stock had previously closed at $16.81.

Analysts Set New Price Targets

Separately, 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 report on Friday, December 6th.

Caleres Price Performance

The business has a 50 day moving average of $20.16 and a 200 day moving average of $28.82. The company has a market cap of $546.59 million, a PE ratio of 3.62 and a beta of 1.92.

Caleres (NYSE:CAL) last announced its quarterly earnings results on Thursday, December 5th. The textile maker reported $1.23 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $751.35 million. During the same period in the previous year, the business earned $1.37 EPS. The business’s revenue was down 2.8% compared to the same quarter last year. Sell-side analysts forecast that Caleres, Inc. will post 3.23 EPS for the current fiscal year.

Caleres Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.72%. The ex-dividend date was Friday, December 27th. Caleres’s dividend payout ratio is currently 6.24%.

Insider Buying and Selling at Caleres

In other news, Director Kyle Gendreau acquired 5,000 shares of the stock in a transaction on Friday, January 17th. The stock was acquired at an average price of $19.93 per share, with a total value of $99,650.00. Following the completion of the transaction, the director now owns 5,000 shares of the company’s stock, valued at $99,650. This represents a ? increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Caleres

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System lifted its position in Caleres by 2.4% during the third quarter. Louisiana State Employees Retirement System now owns 17,000 shares of the textile maker’s stock valued at $562,000 after buying an additional 400 shares during the period. Franklin Resources Inc. raised its position in shares of Caleres by 1.7% in the 3rd 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 last quarter. State of Alaska Department of Revenue raised its position in shares of Caleres by 3.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 20,047 shares of the textile maker’s stock worth $662,000 after purchasing an additional 628 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Caleres by 3.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,448 shares of the textile maker’s stock worth $450,000 after purchasing an additional 643 shares during the last quarter. Finally, Quest Partners LLC raised its position in shares of Caleres by 6.6% in the 3rd quarter. Quest Partners LLC now owns 14,028 shares of the textile maker’s stock worth $464,000 after purchasing an additional 869 shares during the last quarter. 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.