Caleres (NYSE:CAL) Reaches New 52-Week Low – What’s Next?

Caleres, Inc. (NYSE:CAL)’s share price hit a new 52-week low on Friday . The stock traded as low as $21.93 and last traded at $21.93, with a volume of 82579 shares trading hands. The stock had previously closed at $22.49.

Analysts Set New Price Targets

Several research analysts recently weighed in on CAL shares. Loop Capital decreased their target price on Caleres from $30.00 to $25.00 and set a “hold” rating for the company in a research note on Friday, December 6th. StockNews.com cut shares of Caleres from a “buy” rating to a “hold” rating in a research note on Thursday, October 3rd.

Caleres Price Performance

The firm has a market capitalization of $735.47 million, a PE ratio of 4.87 and a beta of 1.92. The firm has a fifty day moving average price of $27.87 and a 200 day moving average price of $32.63.

Caleres (NYSE:CAL) last posted its quarterly earnings data 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 return on equity of 22.71% and a net margin of 5.69%. The company had revenue of $740.90 million for the quarter, compared to analyst estimates of $751.35 million. During the same quarter in the previous year, the firm posted $1.37 EPS. Caleres’s quarterly revenue was down 2.8% on a year-over-year basis. On average, sell-side analysts expect that Caleres, Inc. will post 3.5 EPS for the current year.

Caleres Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.28%. The ex-dividend date is Friday, December 27th. Caleres’s dividend payout ratio is currently 6.24%.

Hedge Funds Weigh In On Caleres

Institutional investors and hedge funds have recently bought and sold shares of the business. nVerses Capital LLC increased its stake in shares of Caleres by 125.0% in the third quarter. nVerses Capital LLC now owns 2,700 shares of the textile maker’s stock worth $89,000 after acquiring an additional 1,500 shares during the last quarter. Creative Planning acquired a new position in Caleres in the 3rd quarter worth about $204,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Caleres during the 3rd quarter worth about $228,000. AXA S.A. lifted its holdings in shares of Caleres by 28.5% during the 2nd quarter. AXA S.A. now owns 6,939 shares of the textile maker’s stock valued at $233,000 after buying an additional 1,540 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Caleres by 31,308.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 7,224 shares of the textile maker’s stock valued at $243,000 after buying an additional 7,201 shares in 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.