Caleres (NYSE:CAL) Trading Down 5.1% – Should You Sell?

Shares of Caleres, Inc. (NYSE:CAL) dropped 5.1% on Tuesday . The stock traded as low as $16.41 and last traded at $16.41. Approximately 30,923 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 620,813 shares. The stock had previously closed at $17.28.

Wall Street Analysts Forecast Growth

Separately, Loop Capital lowered their target price on Caleres from $30.00 to $25.00 and set a “hold” rating on the stock in a research note on Friday, December 6th.

Caleres Price Performance

The stock has a market capitalization of $525.79 million, a PE ratio of 3.49 and a beta of 1.82. The stock has a 50 day moving average of $18.38 and a two-hundred day moving average of $26.73.

Caleres Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were issued 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 1.79%. Caleres’s dividend payout ratio is presently 6.24%.

Insider Buying and Selling

In other news, Director Kyle Gendreau acquired 5,000 shares of Caleres stock in a transaction that occurred on Friday, January 17th. The stock was purchased at an average cost of $19.93 per share, with a total value of $99,650.00. Following the completion of the acquisition, the director now owns 5,000 shares in the company, valued at $99,650. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 3.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Caleres

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Caleres by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 3,223,343 shares of the textile maker’s stock worth $74,653,000 after acquiring an additional 50,041 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Caleres by 8.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,049,895 shares of the textile maker’s stock worth $47,475,000 after acquiring an additional 167,326 shares during the last quarter. Principal Financial Group Inc. raised its holdings 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 worth $60,648,000 after acquiring an additional 56,346 shares during the last quarter. State Street Corp raised its holdings in shares of Caleres by 3.1% in the third quarter. State Street Corp now owns 1,519,912 shares of the textile maker’s stock worth $50,233,000 after acquiring an additional 46,230 shares during the last quarter. Finally, Pacer Advisors Inc. acquired a new position in shares of Caleres in the third quarter worth $49,783,000. 98.44% of the stock is owned by institutional investors and hedge funds.

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.