Cato (NYSE:CATO) Cut to Hold at StockNews.com

StockNews.com lowered shares of Cato (NYSE:CATO) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.

Separately, TheStreet cut shares of Cato from a c- rating to a d+ rating in a research report on Monday, March 18th.

Cato Stock Performance

Shares of Cato stock opened at $5.89 on Tuesday. The firm has a fifty day moving average of $5.47 and a two-hundred day moving average of $6.14. The stock has a market capitalization of $121.00 million, a price-to-earnings ratio of -7.01 and a beta of 1.08. Cato has a 52 week low of $4.56 and a 52 week high of $8.78.

Cato (NYSE:CATO) last issued its earnings results on Thursday, May 23rd. The specialty retailer reported $0.54 EPS for the quarter. Cato had a negative net margin of 2.51% and a negative return on equity of 8.36%. The company had revenue of $177.10 million during the quarter.

Cato Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Monday, June 10th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 11.55%. The ex-dividend date of this dividend was Monday, June 10th. Cato’s dividend payout ratio is currently -80.95%.

Institutional Trading of Cato

A number of large investors have recently made changes to their positions in the company. Barclays PLC boosted its stake in Cato by 46.0% in the 3rd quarter. Barclays PLC now owns 5,801 shares of the specialty retailer’s stock worth $45,000 after purchasing an additional 1,827 shares during the period. Gladius Capital Management LP boosted its stake in Cato by 129.5% in the 3rd quarter. Gladius Capital Management LP now owns 4,197 shares of the specialty retailer’s stock worth $32,000 after purchasing an additional 2,368 shares during the period. Empowered Funds LLC boosted its stake in Cato by 8.1% in the 1st quarter. Empowered Funds LLC now owns 39,666 shares of the specialty retailer’s stock worth $229,000 after purchasing an additional 2,975 shares during the period. BNP Paribas Financial Markets boosted its stake in Cato by 64.6% in the 1st quarter. BNP Paribas Financial Markets now owns 7,995 shares of the specialty retailer’s stock worth $46,000 after purchasing an additional 3,139 shares during the period. Finally, Trexquant Investment LP boosted its stake in Cato by 11.5% in the 4th quarter. Trexquant Investment LP now owns 62,732 shares of the specialty retailer’s stock worth $448,000 after purchasing an additional 6,453 shares during the period. Institutional investors own 61.10% of the company’s stock.

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.