Cato (CATO) Trading Down 9.7%

Cato Corp (NYSE:CATO)’s share price traded down 9.7% during trading on Friday . The stock traded as low as $12.33 and last traded at $12.39. 727,274 shares were traded during mid-day trading, an increase of 196% from the average session volume of 245,929 shares. The stock had previously closed at $13.72.

Separately, ValuEngine cut shares of Cato from a “hold” rating to a “sell” rating in a research report on Friday, May 24th.

The stock has a market cap of $333.59 million, a P/E ratio of 11.69 and a beta of 0.41. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.04 and a current ratio of 2.95.

Cato (NYSE:CATO) last issued its earnings results on Thursday, May 23rd. The specialty retailer reported $0.87 EPS for the quarter. The company had revenue of $230.35 million during the quarter. Cato had a net margin of 3.44% and a return on equity of 8.69%.

The company also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Monday, June 10th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 10.65%. The ex-dividend date of this dividend is Friday, June 7th.

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in Cato by 8.0% during the 4th quarter. BlackRock Inc. now owns 3,526,035 shares of the specialty retailer’s stock worth $50,316,000 after purchasing an additional 262,563 shares in the last quarter. Vanguard Group Inc. increased its position in Cato by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,820,845 shares of the specialty retailer’s stock worth $38,273,000 after purchasing an additional 61,154 shares in the last quarter. Bank of New York Mellon Corp increased its position in Cato by 2.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 634,910 shares of the specialty retailer’s stock worth $13,346,000 after purchasing an additional 17,792 shares in the last quarter. Acadian Asset Management LLC increased its position in Cato by 12.3% during the 4th quarter. Acadian Asset Management LLC now owns 584,177 shares of the specialty retailer’s stock worth $8,334,000 after purchasing an additional 64,150 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Cato by 0.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 459,758 shares of the specialty retailer’s stock worth $6,888,000 after purchasing an additional 3,330 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

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Cato Company Profile (NYSE:CATO)

The Cato Corporation, together with its subsidiaries, operates as a specialty retailer of fashion apparel and accessories primarily in the southeastern United States. It operates through two segments, Retail and Credit. The company's stores and e-commerce Websites offer a range of apparel and accessories, including dressy, career, and casual sportswear; and dresses, coats, shoes, lingerie, costume jewelry, and handbags, as well as men's wear, and lines for kids and infants.

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