Caleres (NYSE:CAL) Sets New 12-Month Low – Should You Sell?

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CAL shares. Loop Capital lowered their price target on Caleres from $30.00 to $25.00 and set a “hold” rating on the stock in a research report 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 Trading Down 3.3 %

The firm has a 50 day moving average of $29.93 and a two-hundred day moving average of $33.53. The company has a market cap of $754.97 million, a PE ratio of 5.00 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 (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.15). The business had revenue of $740.90 million for the quarter, compared to the consensus estimate of $751.35 million. Caleres had a net margin of 5.69% and a return on equity of 22.71%. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.37 earnings per share. On average, research analysts forecast that Caleres, Inc. will post 3.5 EPS for the current year.

Caleres Announces Dividend

The business also recently disclosed 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 1.25%. Caleres’s dividend payout ratio (DPR) is 6.24%.

Hedge Funds Weigh In On Caleres

Several large investors have recently added to or reduced their stakes in CAL. Pacer Advisors Inc. purchased a new stake in Caleres during the 3rd quarter valued at approximately $49,783,000. FMR LLC grew its stake in Caleres by 30.1% during the third quarter. FMR LLC now owns 929,968 shares of the textile maker’s stock valued at $30,735,000 after acquiring an additional 215,372 shares in the last quarter. American Century Companies Inc. increased its holdings in Caleres by 25.6% in the 2nd quarter. American Century Companies Inc. now owns 901,852 shares of the textile maker’s stock valued at $30,302,000 after acquiring an additional 183,594 shares during the last quarter. Landscape Capital Management L.L.C. purchased a new stake in Caleres in the 3rd quarter worth $4,184,000. Finally, Millennium Management LLC boosted its holdings in shares of Caleres by 58.8% during the 2nd quarter. Millennium Management LLC now owns 221,082 shares of the textile maker’s stock valued at $7,428,000 after purchasing an additional 81,836 shares during the last quarter. Hedge funds and other 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.