Caleres (NYSE:CAL) Hits New 52-Week Low – Here’s What Happened

Caleres, Inc. (NYSE:CAL) shares reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $14.46 and last traded at $15.14, with a volume of 420711 shares trading hands. The stock had previously closed at $17.83.

Analysts Set New Price Targets

Separately, Loop Capital reduced their target price on Caleres from $17.00 to $16.00 and set a “hold” rating for the company in a research note on Friday.

Caleres Price Performance

The company’s 50-day moving average price is $17.02 and its two-hundred day moving average price is $24.21. The company has a market capitalization of $537.90 million, a P/E ratio of 3.56 and a beta of 1.82.

Caleres (NYSE:CAL) last released its quarterly earnings results on Thursday, March 20th. The textile maker reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.06. Caleres had a net margin of 5.69% and a return on equity of 22.71%. The firm had revenue of $639.20 million for the quarter, compared to analysts’ expectations of $645.79 million. During the same period in the prior year, the firm earned $0.86 EPS. The business’s revenue was down 8.3% on a year-over-year basis. On average, analysts anticipate that Caleres, Inc. will post 3.23 earnings per share for the current fiscal year.

Caleres Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, March 27th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date is Thursday, March 27th. Caleres’s dividend payout ratio is 9.12%.

Insider Transactions at Caleres

In other Caleres news, Director Lori Greeley acquired 9,000 shares of the business’s stock in a transaction on Thursday, March 27th. The stock was purchased at an average price of $17.77 per share, with a total value of $159,930.00. Following the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $177,700. This trade represents a 900.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kyle Gendreau acquired 5,000 shares of the stock in a transaction on Friday, January 17th. The shares were bought at an average price of $19.93 per share, for a total transaction of $99,650.00. Following the purchase, the director now owns 5,000 shares in the company, valued at approximately $99,650. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Franklin Resources Inc. boosted its stake in shares of Caleres by 1.7% in the 3rd quarter. Franklin Resources Inc. now owns 27,905 shares of the textile maker’s stock valued at $908,000 after purchasing an additional 479 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Caleres by 3.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,448 shares of the textile maker’s stock valued at $450,000 after buying an additional 643 shares during the period. Versant Capital Management Inc increased its position in Caleres by 244.0% in the 1st quarter. Versant Capital Management Inc now owns 1,455 shares of the textile maker’s stock valued at $25,000 after acquiring an additional 1,032 shares during the period. MetLife Investment Management LLC raised its position in Caleres by 6.0% during the 4th quarter. MetLife Investment Management LLC now owns 20,870 shares of the textile maker’s stock worth $483,000 after purchasing an additional 1,177 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in Caleres by 254.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,733 shares of the textile maker’s stock valued at $40,000 after acquiring an additional 1,244 shares during the last quarter. Institutional investors own 98.44% of the company’s stock.

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.