Caleres (NYSE:CAL) Reaches New 1-Year Low – Should You Sell?

Caleres, Inc. (NYSE:CAL)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $19.63 and last traded at $19.71, with a volume of 588178 shares trading hands. The stock had previously closed at $19.75.

Analysts Set New Price Targets

A number of research firms have recently commented on CAL. StockNews.com cut Caleres from a “buy” rating to a “hold” rating in a research note on Thursday, October 3rd. Loop Capital decreased their price objective on shares of 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 $677.62 million, a P/E ratio of 4.49 and a beta of 1.96. The firm has a fifty day simple moving average of $25.35 and a two-hundred day simple moving average of $31.48.

Caleres (NYSE:CAL) last posted its quarterly earnings results on Thursday, December 5th. The textile maker reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.15). Caleres had a return on equity of 22.71% and a net margin of 5.69%. The firm had revenue of $740.90 million for the quarter, compared to the consensus estimate of $751.35 million. During the same quarter in the previous year, the company posted $1.37 EPS. The firm’s revenue was down 2.8% compared to the same quarter last year. On average, research analysts anticipate that Caleres, Inc. will post 3.24 EPS for the current year.

Caleres Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend was Friday, December 27th. Caleres’s dividend payout ratio (DPR) is currently 6.24%.

Insider Activity at Caleres

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

Hedge Funds Weigh In On Caleres

A number of large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its holdings in Caleres by 42.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 418,722 shares of the textile maker’s stock worth $13,839,000 after purchasing an additional 124,266 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Caleres by 3.2% in the third quarter. Principal Financial Group Inc. now owns 1,835,057 shares of the textile maker’s stock valued at $60,648,000 after acquiring an additional 56,346 shares during the period. Franklin Resources Inc. grew its stake in Caleres by 1.7% during the third quarter. Franklin Resources Inc. now owns 27,905 shares of the textile maker’s stock valued at $908,000 after acquiring an additional 479 shares in the last quarter. Geode Capital Management LLC increased its holdings in Caleres by 3.6% during the 3rd quarter. Geode Capital Management LLC now owns 792,057 shares of the textile maker’s stock worth $26,183,000 after acquiring an additional 27,291 shares during the period. Finally, Barclays PLC lifted its stake in Caleres by 108.8% in the 3rd quarter. Barclays PLC now owns 55,776 shares of the textile maker’s stock worth $1,843,000 after purchasing an additional 29,057 shares in the last quarter. 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.