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

Caleres, Inc. (NYSE:CAL) shares hit a new 52-week low on Friday . The company traded as low as $21.93 and last traded at $21.93, with a volume of 82579 shares changing hands. The stock had previously closed at $22.49.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CAL. Loop Capital dropped their price objective 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. StockNews.com cut Caleres from a “buy” rating to a “hold” rating in a report on Thursday, October 3rd.

Caleres Trading Down 1.6 %

The company has a market capitalization of $743.87 million, a P/E ratio of 4.93 and a beta of 1.92. The firm’s 50 day moving average price is $28.01 and its two-hundred day moving average price is $32.71.

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). Caleres had a net margin of 5.69% and a return on equity of 22.71%. The business had revenue of $740.90 million during the quarter, compared to the consensus estimate of $751.35 million. During the same period last year, the business posted $1.37 EPS. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. Analysts anticipate that Caleres, Inc. will post 3.5 earnings per share for the current fiscal year.

Caleres Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.27%. The ex-dividend date is Friday, December 27th. Caleres’s dividend payout ratio (DPR) is currently 6.24%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of Caleres by 31,308.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 7,224 shares of the textile maker’s stock worth $243,000 after acquiring an additional 7,201 shares during the period. nVerses Capital LLC acquired a new position in Caleres in the 2nd quarter valued at $40,000. Victory Capital Management Inc. increased its position in Caleres by 83.8% during the 2nd quarter. Victory Capital Management Inc. now owns 61,959 shares of the textile maker’s stock worth $2,082,000 after buying an additional 28,250 shares during the period. Foundry Partners LLC acquired a new stake in shares of Caleres during the second quarter worth $500,000. Finally, Great Lakes Advisors LLC boosted its position in shares of Caleres by 69.6% in the second quarter. Great Lakes Advisors LLC now owns 193,841 shares of the textile maker’s stock valued at $6,513,000 after acquiring an additional 79,581 shares during the period. 98.44% of the stock is currently owned by institutional investors and hedge funds.

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.