Caleres (NYSE:CAL) Hits New 52-Week Low – Time to Sell?

Caleres, Inc. (NYSE:CAL) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $19.86 and last traded at $19.98, with a volume of 86931 shares changing hands. The stock had previously closed at $20.54.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CAL. Loop Capital lowered their price target on Caleres from $30.00 to $25.00 and set a “hold” rating for the company in a report on Friday, December 6th. StockNews.com downgraded Caleres from a “buy” rating to a “hold” rating in a research note on Thursday, October 3rd.

Caleres Stock Down 2.1 %

The business’s 50 day simple moving average is $26.47 and its two-hundred day simple moving average is $31.92. The stock has a market cap of $675.96 million, a P/E ratio of 4.48 and a beta of 1.96.

Caleres (NYSE:CAL) last issued its quarterly earnings data on Thursday, December 5th. The textile maker reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates 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 prior year, the firm earned $1.37 EPS. The company’s revenue was down 2.8% on a year-over-year basis. As a group, research analysts forecast that Caleres, Inc. will post 3.5 earnings per share for the current fiscal year.

Caleres Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a dividend of $0.07 per share. The ex-dividend date was Friday, December 27th. This represents a $0.28 annualized dividend and a yield of 1.39%. Caleres’s dividend payout ratio is presently 6.24%.

Hedge Funds Weigh In On Caleres

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Victory Capital Management Inc. grew its stake in shares of Caleres by 83.8% in the second quarter. Victory Capital Management Inc. now owns 61,959 shares of the textile maker’s stock worth $2,082,000 after purchasing an additional 28,250 shares during the last quarter. Texas Permanent School Fund Corp lifted its holdings in Caleres by 4.4% during the 2nd quarter. Texas Permanent School Fund Corp now owns 30,480 shares of the textile maker’s stock worth $1,024,000 after buying an additional 1,273 shares during the period. American Century Companies Inc. grew its position in shares of 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 buying an additional 183,594 shares during the last quarter. Leuthold Group LLC acquired a new stake in shares of Caleres in the second quarter valued at about $2,391,000. Finally, Sei Investments Co. raised its position in shares of Caleres by 49.3% during the second quarter. Sei Investments Co. now owns 35,001 shares of the textile maker’s stock worth $1,176,000 after acquiring an additional 11,557 shares during the last quarter. 98.44% of the stock is currently 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.