BidaskClub cut shares of Cato Corporation (The) (NYSE:CATO) from a sell rating to a strong sell rating in a report published on Thursday morning.
A number of other research analysts have also weighed in on the stock. MKM Partners reissued a neutral rating and issued a $20.00 target price (down from $23.00) on shares of Cato Corporation (The) in a report on Friday, June 9th. TheStreet lowered shares of Cato Corporation (The) from a c rating to a d+ rating in a report on Thursday, August 17th.
Cato Corporation (NYSE:CATO) opened at 13.29 on Thursday. Cato Corporation has a 1-year low of $12.20 and a 1-year high of $36.64. The stock has a market cap of $329.99 million, a PE ratio of 21.00 and a beta of 1.13. The firm has a 50-day moving average of $13.41 and a 200-day moving average of $17.80.
Cato Corporation (The) (NYSE:CATO) last released its quarterly earnings data on Thursday, August 17th. The specialty retailer reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.14). The company had revenue of $207.00 million for the quarter, compared to the consensus estimate of $209.50 million. Cato Corporation (The) had a net margin of 1.92% and a return on equity of 4.37%. The company’s quarterly revenue was down 13.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.57 EPS. Analysts expect that Cato Corporation will post $0.85 EPS for the current fiscal year.
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The firm also recently announced a quarterly dividend, which was paid on Monday, September 25th. Investors of record on Monday, September 11th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 9.93%. The ex-dividend date was Friday, September 8th. Cato Corporation (The)’s dividend payout ratio (DPR) is presently 206.25%.
In other Cato Corporation (The) news, Director Daniel Harding Stowe bought 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was purchased at an average cost of $14.27 per share, with a total value of $99,890.00. Following the completion of the acquisition, the director now owns 16,686 shares in the company, valued at approximately $238,109.22. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 8.98% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. State Street Corp grew its holdings in shares of Cato Corporation (The) by 11.3% in the second quarter. State Street Corp now owns 880,952 shares of the specialty retailer’s stock valued at $15,494,000 after purchasing an additional 89,475 shares in the last quarter. Denver Investment Advisors LLC boosted its stake in Cato Corporation (The) by 50.3% during the second quarter. Denver Investment Advisors LLC now owns 700,099 shares of the specialty retailer’s stock worth $12,315,000 after buying an additional 234,436 shares during the period. Ameriprise Financial Inc. boosted its stake in Cato Corporation (The) by 17.8% during the second quarter. Ameriprise Financial Inc. now owns 271,666 shares of the specialty retailer’s stock worth $4,779,000 after buying an additional 41,038 shares during the period. Marshall Wace North America L.P. purchased a new position in Cato Corporation (The) during the second quarter worth $2,633,000. Finally, TIAA CREF Investment Management LLC boosted its stake in Cato Corporation (The) by 35.6% during the second quarter. TIAA CREF Investment Management LLC now owns 132,673 shares of the specialty retailer’s stock worth $2,334,000 after buying an additional 34,838 shares during the period. 88.41% of the stock is owned by hedge funds and other institutional investors.
Cato Corporation (The) Company Profile
The Cato Corporation is a fashion specialty retailer. The Company’s merchandise lines include dressy, career, and casual sportswear, dresses, coats, shoes, lingerie, costume jewelry, handbags, men’s wear and lines for kids and newborns. The Company has two segments: the operation of a fashion specialty stores segment (Retail Segment) and a credit card segment (Credit Segment).
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