Cato (NYSE:CATO) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Cato (NYSE:CATO – Get Rating) in a report published on Thursday morning. The brokerage issued a hold rating on the specialty retailer’s stock.

Separately, TheStreet downgraded shares of Cato from a c rating to a d+ rating in a report on Thursday, November 17th.

Cato Trading Down 0.9 %

Shares of Cato stock opened at $8.62 on Thursday. Cato has a 12-month low of $8.40 and a 12-month high of $15.83. The company has a market cap of $182.57 million, a price-to-earnings ratio of -53.88 and a beta of 1.02. The company’s 50-day moving average price is $9.60 and its 200-day moving average price is $9.91.

Cato Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Tuesday, March 21st will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 7.89%. The ex-dividend date of this dividend is Monday, March 20th. Cato’s dividend payout ratio (DPR) is -425.00%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC increased its position in shares of Cato by 78.2% in the third quarter. Tower Research Capital LLC TRC now owns 2,831 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 1,242 shares during the last quarter. Teachers Retirement System of The State of Kentucky bought a new position in Cato during the third quarter valued at approximately $55,000. Newbridge Financial Services Group Inc. grew its position in Cato by 94.6% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 6,170 shares of the specialty retailer’s stock valued at $58,000 after acquiring an additional 3,000 shares during the last quarter. BNP Paribas Arbitrage SNC grew its position in Cato by 64.8% during the third quarter. BNP Paribas Arbitrage SNC now owns 8,901 shares of the specialty retailer’s stock valued at $85,000 after acquiring an additional 3,499 shares during the last quarter. Finally, MetLife Investment Management LLC bought a new position in Cato during the fourth quarter valued at approximately $91,000. 52.06% of the stock is currently owned by institutional investors.

About Cato

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The Cato Corp. engages in the operation of apparel and accessories specialty stores. It operates through the following segments: Retail and Credit. The Retail segment includes the retailing of women’s apparel, shoes, and accessories. The Credit segment offers credit card and credit authorization services.