Caleres (NYSE:CAL) Shares Down 5.4% – Time to Sell?

Caleres, Inc. (NYSE:CAL) shares were down 5.4% during trading on Monday . The stock traded as low as $31.33 and last traded at $31.33. Approximately 158,742 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 538,810 shares. The stock had previously closed at $33.11.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Loop Capital cut their price target on shares of Caleres from $45.00 to $30.00 and set a “hold” rating for the company in a report on Friday, September 13th. StockNews.com downgraded shares of Caleres from a “buy” rating to a “hold” rating in a report on Thursday, October 3rd.

Caleres Trading Down 1.4 %

The company’s fifty day simple moving average is $35.98 and its 200 day simple moving average is $35.63. The stock has a market capitalization of $1.03 billion, a P/E ratio of 6.33 and a beta of 1.91.

Caleres (NYSE:CAL) last posted its quarterly earnings data on Thursday, September 12th. The textile maker reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.37). Caleres had a return on equity of 24.63% and a net margin of 5.84%. The company had revenue of $683.30 million for the quarter, compared to the consensus estimate of $723.80 million. During the same period in the prior year, the firm posted $0.98 earnings per share. The business’s revenue was down 1.8% on a year-over-year basis. Equities research analysts predict that Caleres, Inc. will post 4.04 earnings per share for the current year.

Caleres Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend was Friday, September 13th. Caleres’s dividend payout ratio is currently 5.93%.

Institutional Trading of Caleres

A number of hedge funds have recently made changes to their positions in the stock. nVerses Capital LLC purchased a new position in Caleres in the 2nd quarter worth $40,000. SG Americas Securities LLC purchased a new position in Caleres in the 1st quarter worth $117,000. Shell Asset Management Co. purchased a new position in Caleres in the 1st quarter worth $156,000. Creative Planning purchased a new position in Caleres in the 3rd quarter worth $204,000. Finally, AXA S.A. raised its position in Caleres by 28.5% in the 2nd quarter. AXA S.A. now owns 6,939 shares of the textile maker’s stock worth $233,000 after purchasing an additional 1,540 shares during the period. 98.44% of the stock is owned by institutional investors.

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.