Caleres (NYSE:CAL) Sets New 52-Week Low – Here’s Why

Caleres, Inc. (NYSE:CAL)’s share price hit a new 52-week low during trading on Thursday . The company 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.

Analysts Set New Price Targets

Separately, Loop Capital dropped their price target on Caleres from $30.00 to $25.00 and set a “hold” rating on the stock in a research note on Friday, December 6th.

Caleres Stock Down 13.7 %

The stock has a market capitalization of $517.31 million, a P/E ratio of 3.41 and a beta of 1.82. The business’s 50 day simple moving average is $17.19 and its two-hundred day simple moving average is $24.38.

Caleres (NYSE:CAL) last announced its quarterly earnings results on Thursday, March 20th. The textile maker reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.06. The business had revenue of $639.20 million for the quarter, compared to analysts’ expectations of $645.79 million. Caleres had a net margin of 5.69% and a return on equity of 22.71%. The firm’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.86 EPS. Analysts predict that Caleres, Inc. will post 3.23 earnings per share for the current year.

Caleres Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, March 27th will be issued a dividend of $0.07 per share. The ex-dividend date is Thursday, March 27th. This represents a $0.28 annualized dividend and a yield of 1.82%. Caleres’s dividend payout ratio (DPR) is currently 9.12%.

Insider Buying and Selling at Caleres

In other news, Director Lori Greeley acquired 9,000 shares of the firm’s stock in a transaction on Thursday, March 27th. The stock was purchased at an average price of $17.77 per share, for a total transaction of $159,930.00. Following the purchase, the director now owns 10,000 shares in the company, valued at approximately $177,700. This represents a 900.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kyle Gendreau bought 5,000 shares of the business’s stock in a transaction dated Friday, January 17th. The stock was acquired at an average price of $19.93 per share, for a total transaction of $99,650.00. Following the purchase, the director now directly owns 5,000 shares in the company, valued at approximately $99,650. The trade was a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Caleres

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Nokomis Capital L.L.C. purchased a new stake in Caleres during the fourth quarter worth about $18,336,000. Voloridge Investment Management LLC purchased a new stake in shares of Caleres during the 4th quarter worth approximately $8,259,000. Invesco Ltd. raised its holdings in shares of Caleres by 48.6% in the 4th quarter. Invesco Ltd. now owns 770,518 shares of the textile maker’s stock worth $17,845,000 after purchasing an additional 252,140 shares during the period. Bridgeway Capital Management LLC lifted its stake in Caleres by 579.9% in the fourth quarter. Bridgeway Capital Management LLC now owns 256,312 shares of the textile maker’s stock valued at $5,936,000 after purchasing an additional 218,611 shares during the last quarter. Finally, FMR LLC grew its holdings in Caleres by 30.1% during the third 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 period. 98.44% of the stock is owned by hedge funds and other institutional investors.

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.