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

Caleres, Inc. (NYSE:CAL)’s share price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $23.72 and last traded at $23.88, with a volume of 739589 shares traded. The stock had previously closed at $23.81.

Wall Street Analysts Forecast Growth

CAL has been the subject of several recent analyst reports. Loop Capital lowered their price objective on shares of Caleres from $30.00 to $25.00 and set a “hold” rating for the company in a research note on Friday, December 6th. StockNews.com lowered Caleres from a “buy” rating to a “hold” rating in a research report on Thursday, October 3rd.

Caleres Price Performance

The company has a 50 day moving average of $30.26 and a two-hundred day moving average of $33.68. The company has a market capitalization of $803.06 million, a PE ratio of 5.34 and a beta of 1.92.

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 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 prior year, the company earned $1.37 earnings per share. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. On average, equities analysts anticipate that Caleres, Inc. will post 3.5 EPS for the current year.

Caleres Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $0.28 annualized dividend and a dividend yield of 1.17%. Caleres’s dividend payout ratio is presently 6.24%.

Institutional Trading of Caleres

A number of institutional investors and hedge funds have recently modified their holdings of CAL. Pacer Advisors Inc. purchased a new stake in shares of Caleres during the third quarter valued at $49,783,000. FMR LLC raised its stake in Caleres by 30.1% during the 3rd quarter. FMR LLC now owns 929,968 shares of the textile maker’s stock valued at $30,735,000 after buying an additional 215,372 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Caleres by 25.6% during the 2nd quarter. American Century Companies Inc. now owns 901,852 shares of the textile maker’s stock valued at $30,302,000 after buying an additional 183,594 shares during the period. Landscape Capital Management L.L.C. purchased a new position in shares of Caleres in the 3rd quarter worth $4,184,000. Finally, Millennium Management LLC grew its holdings in shares of Caleres by 58.8% in the second quarter. Millennium Management LLC now owns 221,082 shares of the textile maker’s stock worth $7,428,000 after acquiring an additional 81,836 shares during the period. 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.