The Cato Co. (NYSE:CATO – Get Free Report) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $5.32 and traded as high as $6.15. Cato shares last traded at $5.91, with a volume of 29,216 shares traded.
Wall Street Analysts Forecast Growth
Separately, StockNews.com lowered Cato from a “buy” rating to a “hold” rating in a report on Friday, August 23rd.
Get Our Latest Stock Report on CATO
Cato Stock Performance
Cato (NYSE:CATO – Get Free Report) last released its quarterly earnings data on Thursday, August 22nd. The specialty retailer reported $0.01 EPS for the quarter. The business had revenue of $168.63 million during the quarter. Cato had a negative return on equity of 9.19% and a negative net margin of 2.71%.
Cato Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.17 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.68 annualized dividend and a yield of 11.74%. Cato’s dividend payout ratio is presently -76.40%.
Hedge Funds Weigh In On Cato
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Point72 DIFC Ltd acquired a new stake in Cato in the 2nd quarter valued at about $36,000. BNP Paribas Financial Markets boosted its holdings in Cato by 64.6% during the first quarter. BNP Paribas Financial Markets now owns 7,995 shares of the specialty retailer’s stock worth $46,000 after buying an additional 3,139 shares in the last quarter. State Board of Administration of Florida Retirement System acquired a new stake in shares of Cato during the first quarter worth $67,000. Assenagon Asset Management S.A. purchased a new stake in shares of Cato during the second quarter valued at $88,000. Finally, AQR Capital Management LLC purchased a new position in Cato in the 2nd quarter worth about $102,000. 61.10% of the stock is currently owned by institutional investors and hedge funds.
About 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.
Read More
- Five stocks we like better than Cato
- What is Short Interest? How to Use It
- How Whitestone REIT is Transforming Sunbelt Retail Growth
- How to Most Effectively Use the MarketBeat Earnings Screener
- Top-Performing Non-Leveraged ETFs This Year
- How to Use High Beta Stocks to Maximize Your Investing Profits
- Rivian’s Wild Ride: Is the Dip a Buying Opportunity?
Receive News & Ratings for Cato Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cato and related companies with MarketBeat.com's FREE daily email newsletter.