Caleres (NYSE:CAL) Reaches New 1-Year Low – Here’s What Happened

Caleres, Inc. (NYSE:CAL)’s share price hit a new 52-week low on Monday . The stock traded as low as $16.26 and last traded at $16.87, with a volume of 44355 shares trading hands. The stock had previously closed at $16.68.

Analysts Set New Price Targets

Separately, Loop Capital cut their price objective on 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 firm has a market capitalization of $576.92 million, a P/E ratio of 3.82 and a beta of 1.92. The company’s 50 day moving average price is $22.38 and its 200 day moving average price is $30.15.

Caleres (NYSE:CAL) last released its earnings results on Thursday, December 5th. The textile maker reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.15). The firm had revenue of $740.90 million for the quarter, compared to the consensus estimate of $751.35 million. Caleres had a return on equity of 22.71% and a net margin of 5.69%. The company’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.37 EPS. On average, research analysts anticipate that Caleres, Inc. will post 3.23 EPS for the current fiscal year.

Caleres Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date was Friday, December 27th. Caleres’s dividend payout ratio (DPR) is currently 6.24%.

Insider Buying and Selling

In other 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 cost of $19.93 per share, for a total transaction of $99,650.00. Following the completion of the acquisition, the director now directly owns 5,000 shares in the company, valued at approximately $99,650. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.80% of the stock is owned by insiders.

Institutional Trading of Caleres

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC boosted its holdings in shares of Caleres by 108.8% in the 3rd quarter. Barclays PLC now owns 55,776 shares of the textile maker’s stock valued at $1,843,000 after buying an additional 29,057 shares during the last quarter. FMR LLC raised its position in Caleres by 30.1% during the third quarter. FMR LLC now owns 929,968 shares of the textile maker’s stock worth $30,735,000 after acquiring an additional 215,372 shares in the last quarter. Royce & Associates LP lifted its stake in Caleres by 13.8% in the third quarter. Royce & Associates LP now owns 631,810 shares of the textile maker’s stock valued at $20,881,000 after acquiring an additional 76,837 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Caleres by 3.6% in the 3rd quarter. Geode Capital Management LLC now owns 792,057 shares of the textile maker’s stock valued at $26,183,000 after acquiring an additional 27,291 shares during the period. Finally, Maverick Capital Ltd. acquired a new position in shares of Caleres during the 3rd quarter worth about $1,038,000. Institutional investors and hedge funds 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.