Cato (NYSE:CATO) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

The Cato Co. (NYSE:CATOGet 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

The company has a 50-day moving average of $5.39 and a 200-day moving average of $5.32.

Cato (NYSE:CATOGet 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

(Get Free Report)

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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