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

Caleres, Inc. (NYSE:CAL)’s stock price reached a new 52-week low during trading on Wednesday . The stock traded as low as $26.04 and last traded at $26.07, with a volume of 634410 shares. The stock had previously closed at $26.97.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Loop Capital reduced their target price 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 lowered Caleres from a “buy” rating to a “hold” rating in a report on Thursday, October 3rd.

Caleres Stock Up 1.3 %

The firm has a market capitalization of $880.35 million, a PE ratio of 5.57 and a beta of 1.92. The business has a 50-day moving average price of $30.43 and a 200-day moving average price of $33.81.

Caleres (NYSE:CAL) last issued its earnings results on Thursday, December 5th. The textile maker reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.15). Caleres had a net margin of 5.69% and a return on equity of 22.71%. The company had revenue of $740.90 million during the quarter, compared to analysts’ expectations of $751.35 million. During the same quarter in the previous year, the company earned $1.37 earnings per share. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. On average, equities research analysts anticipate that Caleres, Inc. will post 3.5 earnings per share for the current year.

Caleres Dividend Announcement

The company also recently declared 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. This represents a $0.28 annualized dividend and a dividend yield of 1.12%. Caleres’s dividend payout ratio (DPR) is 6.24%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. raised its holdings in Caleres by 3.2% in the 3rd quarter. Principal Financial Group Inc. now owns 1,835,057 shares of the textile maker’s stock valued at $60,648,000 after buying an additional 56,346 shares during the period. State Street Corp increased its holdings in Caleres by 3.1% in the 3rd quarter. State Street Corp now owns 1,519,912 shares of the textile maker’s stock valued at $50,233,000 after purchasing an additional 46,230 shares during the last quarter. Pacer Advisors Inc. purchased a new stake in Caleres in the third quarter valued at approximately $49,783,000. FMR LLC raised its holdings in shares of Caleres by 30.1% in the 3rd quarter. FMR LLC now owns 929,968 shares of the textile maker’s stock valued at $30,735,000 after buying an additional 215,372 shares during the period. Finally, American Century Companies Inc. lifted its stake in Caleres by 25.6% during the 2nd quarter. American Century Companies Inc. now owns 901,852 shares of the textile maker’s stock worth $30,302,000 after acquiring an additional 183,594 shares in the last quarter. 98.44% of the stock is currently 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.