Caleres (NYSE:CAL) Stock Price Crosses Above 200 Day Moving Average - Time to Sell?

Key Points

• Caleres shares recently climbed above their 200-day moving average (200‑day MA = $12.12), trading as high as $13.20 and last at $12.83 on volume of 655,837 shares.
• Analyst sentiment is mixed: two Hold ratings and one Sell produce an average rating of Reduce and a consensus price target of $14.00, though Seaport raised its target to $16 and Weiss reiterated a sell.
• Operationally, Caleres beat EPS estimates for the quarter ($-0.36 vs. -$0.40) with revenue up 8.7% to $695.1M, and it pays a quarterly dividend of $0.07 (annualized yield ~2.2%) despite a negative P/E and slim net margin.

Caleres, Inc. (NYSE:CAL - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.12 and traded as high as $13.20. Caleres shares last traded at $12.83, with a volume of 655,837 shares.

Wall Street Analysts Forecast Growth

CAL has been the topic of several analyst reports. Weiss Ratings reiterated a "sell (d+)" rating on shares of Caleres in a research note on Wednesday, January 21st. Seaport Research Partners upped their target price on shares of Caleres from $14.00 to $16.00 and gave the stock a "buy" rating in a research note on Thursday, March 19th. Finally, Zacks Research upgraded shares of Caleres from a "strong sell" rating to a "hold" rating in a research note on Thursday, February 26th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Caleres has an average rating of "Reduce" and a consensus price target of $14.00.

Caleres Price Performance

The firm's 50 day moving average price is $11.34 and its 200-day moving average price is $12.12. The stock has a market cap of $434.17 million, a P/E ratio of -58.32 and a beta of 0.58.

Caleres (NYSE:CAL - Get Free Report) last issued its earnings results on Thursday, March 19th. The textile maker reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.04. The firm had revenue of $695.06 million for the quarter, compared to the consensus estimate of $688.43 million. Caleres had a negative net margin of 0.24% and a positive return on equity of 6.49%. The business's revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.33 earnings per share. On average, analysts expect that Caleres, Inc. will post 3.23 earnings per share for the current year.

Caleres Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Thursday, March 26th were paid a dividend of $0.07 per share. The ex-dividend date was Thursday, March 26th. This represents a $0.28 dividend on an annualized basis and a yield of 2.2%. Caleres's payout ratio is currently -127.27%.

Institutional Investors Weigh In On Caleres

A number of hedge funds have recently added to or reduced their stakes in CAL. Osaic Holdings Inc. raised its stake in Caleres by 1,662.8% during the 2nd quarter. Osaic Holdings Inc. now owns 1,992 shares of the textile maker's stock valued at $25,000 after buying an additional 1,879 shares during the last quarter. Global Retirement Partners LLC purchased a new stake in Caleres during the 4th quarter valued at $25,000. Quadrant Capital Group LLC raised its stake in Caleres by 1,032.4% during the 4th quarter. Quadrant Capital Group LLC now owns 2,412 shares of the textile maker's stock valued at $29,000 after buying an additional 2,199 shares during the last quarter. CWM LLC raised its stake in Caleres by 624.9% during the 3rd quarter. CWM LLC now owns 3,639 shares of the textile maker's stock valued at $47,000 after buying an additional 3,137 shares during the last quarter. Finally, State of Wyoming purchased a new stake in Caleres during the 3rd quarter valued at $56,000. 98.44% of the stock is currently owned by hedge funds and other institutional investors.

Caleres Company Profile

Caleres, Inc, formerly known as Brown Shoe Company, is a leading footwear company engaged in the design, sourcing, marketing and selling of a broad portfolio of branded and private-label shoes. The company's operations span a range of market segments from value-priced to premium and luxury. Caleres operates through two primary segments: a retail segment anchored by the Famous Footwear banner, which includes more than 1,100 stores across North America, and a brand portfolio segment comprising owned and licensed brands such as Allen Edmonds, Naturalizer, Sam Edelman, Dr.

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