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

Caleres, Inc. (NYSE:CAL) shares hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $21.17 and last traded at $21.63, with a volume of 580465 shares traded. The stock had previously closed at $22.07.

Wall Street Analyst Weigh In

CAL has been the subject of several analyst reports. StockNews.com lowered Caleres from a “buy” rating to a “hold” rating in a research report on Thursday, October 3rd. Loop Capital decreased their price objective on shares of 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 market capitalization of $712.60 million, a price-to-earnings ratio of 4.72 and a beta of 1.96. The business has a 50 day simple moving average of $27.01 and a 200-day simple moving average of $32.20.

Caleres (NYSE:CAL) last posted its earnings results on Thursday, December 5th. The textile maker reported $1.23 earnings per share (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 for the quarter, compared to the consensus estimate of $751.35 million. During the same period in the previous year, the company posted $1.37 earnings per share. Caleres’s revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, equities analysts predict that Caleres, Inc. will post 3.5 earnings per share for the current year.

Caleres Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend was Friday, December 27th. Caleres’s payout ratio is presently 6.24%.

Institutional Trading of Caleres

A number of institutional investors have recently modified their holdings of the company. Louisiana State Employees Retirement System raised its position in Caleres by 2.4% in the 3rd 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 last quarter. Franklin Resources Inc. grew its stake in shares of Caleres by 1.7% during the 3rd quarter. Franklin Resources Inc. now owns 27,905 shares of the textile maker’s stock worth $908,000 after acquiring an additional 479 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Caleres by 3.2% in the third quarter. State of Alaska Department of Revenue now owns 20,047 shares of the textile maker’s stock valued at $662,000 after purchasing an additional 628 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Caleres by 4.8% in the second quarter. The Manufacturers Life Insurance Company now owns 16,743 shares of the textile maker’s stock worth $563,000 after purchasing an additional 761 shares in the last quarter. Finally, Quest Partners LLC boosted its holdings in Caleres by 6.6% during the third 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. 98.44% of the stock is currently owned by 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.