Caleres (NYSE:CAL) Reaches New 1-Year Low – Time to Sell?

Caleres, Inc. (NYSE:CAL) shares hit a new 52-week low on Wednesday . The company traded as low as $26.04 and last traded at $26.07, with a volume of 634410 shares changing hands. The stock had previously closed at $26.97.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. StockNews.com lowered Caleres from a “buy” rating to a “hold” rating in a research note on Thursday, October 3rd. Loop Capital reduced their price objective on Caleres from $30.00 to $25.00 and set a “hold” rating for the company in a research note on Friday, December 6th.

Caleres Stock Up 1.3 %

The stock’s 50 day moving average price is $30.43 and its two-hundred day moving average price is $33.81. The stock has a market cap of $880.35 million, a price-to-earnings ratio of 5.57 and a beta of 1.92.

Caleres (NYSE:CAL) last announced 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). The company had revenue of $740.90 million for the quarter, compared to analyst estimates of $751.35 million. Caleres had a return on equity of 22.71% and a net margin of 5.69%. Caleres’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.37 earnings per share. On average, analysts predict that Caleres, Inc. will post 3.5 earnings per share for the current fiscal year.

Caleres Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors 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 1.12%. Caleres’s dividend payout ratio is currently 6.24%.

Institutional Trading of Caleres

A number of hedge funds have recently added to or reduced their stakes in CAL. nVerses Capital LLC acquired a new position in shares of Caleres in the second quarter worth about $40,000. Creative Planning purchased a new position in shares of Caleres in the 3rd quarter valued at about $204,000. Y Intercept Hong Kong Ltd acquired a new position in Caleres in the 3rd quarter worth about $228,000. AXA S.A. boosted its position in Caleres by 28.5% during the second 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 in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in Caleres by 31,308.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 7,224 shares of the textile maker’s stock valued at $243,000 after purchasing an additional 7,201 shares during the period. 98.44% of the stock is owned by hedge funds and other institutional investors.

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.