Separately, BidaskClub downgraded Cato from a sell rating to a strong sell rating in a report on Friday, August 11th.
Shares of Cato (NYSE CATO) opened at $15.47 on Wednesday. The company has a market capitalization of $360.08, a P/E ratio of 34.38 and a beta of 1.21. Cato has a twelve month low of $12.20 and a twelve month high of $31.89.
Cato (NYSE:CATO) last released its quarterly earnings data on Thursday, November 16th. The specialty retailer reported $0.11 EPS for the quarter, beating the consensus estimate of $0.08 by $0.03. Cato had a return on equity of 3.04% and a net margin of 1.31%. The company had revenue of $190.30 million during the quarter, compared to the consensus estimate of $188.00 million. During the same quarter in the prior year, the firm posted $0.30 EPS. The firm’s revenue for the quarter was down 9.1% compared to the same quarter last year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 11th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 8.53%. The ex-dividend date is Friday, December 8th. Cato’s payout ratio is 293.33%.
A number of hedge funds have recently bought and sold shares of the business. Aperio Group LLC bought a new position in Cato during the 3rd quarter worth $450,000. State Street Corp increased its position in Cato by 11.3% during the 2nd quarter. State Street Corp now owns 880,952 shares of the specialty retailer’s stock worth $15,494,000 after buying an additional 89,475 shares during the period. Tudor Investment Corp ET AL bought a new position in Cato during the 2nd quarter worth $339,000. Parametric Portfolio Associates LLC increased its position in Cato by 13.7% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 78,168 shares of the specialty retailer’s stock worth $1,375,000 after buying an additional 9,434 shares during the period. Finally, Pinebridge Investments L.P. increased its position in Cato by 15.5% during the 2nd quarter. Pinebridge Investments L.P. now owns 41,454 shares of the specialty retailer’s stock worth $729,000 after buying an additional 5,553 shares during the period. Hedge funds and other institutional investors own 87.59% of the company’s stock.
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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