Caleres (NYSE:CAL) Reaches New 52-Week Low – Should You Sell?

Shares of Caleres, Inc. (NYSE:CAL) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $15.24 and last traded at $16.42, with a volume of 1188336 shares. The stock had previously closed at $16.10.

Wall Street Analysts Forecast Growth

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 Up 2.0 %

The company’s 50 day moving average price is $19.18 and its 200 day moving average price is $27.71. The firm has a market capitalization of $552.02 million, a price-to-earnings ratio of 3.66 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 (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.15). Caleres had a net margin of 5.69% and a return on equity of 22.71%. The firm had revenue of $740.90 million during the quarter, compared to analyst estimates of $751.35 million. During the same period in the previous year, the company earned $1.37 earnings per share. Caleres’s revenue was down 2.8% on a year-over-year basis. As a group, analysts expect that Caleres, Inc. will post 3.23 earnings per share for the current year.

Caleres Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.71%. The ex-dividend date was Friday, December 27th. Caleres’s payout ratio is 6.24%.

Insider Activity at Caleres

In related news, Director Kyle Gendreau purchased 5,000 shares of the business’s stock in a transaction on Friday, January 17th. The shares were bought at an average cost of $19.93 per share, with a total value of $99,650.00. Following the transaction, the director now owns 5,000 shares of the company’s stock, valued at approximately $99,650. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Caleres

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CAL. Smartleaf Asset Management LLC lifted its stake in Caleres by 254.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,733 shares of the textile maker’s stock valued at $40,000 after buying an additional 1,244 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in Caleres in the 4th quarter worth approximately $59,000. Lee Danner & Bass Inc. purchased a new position in Caleres in the 4th quarter worth approximately $81,000. Canada Pension Plan Investment Board purchased a new position in Caleres in the 4th quarter worth approximately $86,000. Finally, Creative Planning purchased a new position in Caleres in the 3rd quarter worth approximately $204,000. 98.44% of the stock is owned by institutional investors and hedge funds.

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.