The Cato Co. (NYSE:CATO) Director Bailey W. Patrick Sells 3,000 Shares of Stock

The Cato Co. (NYSE:CATO) Director Bailey W. Patrick sold 3,000 shares of the firm’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $6.85, for a total transaction of $20,550.00. Following the sale, the director now owns 35,808 shares of the company’s stock, valued at $245,284.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Cato Stock Down 2.1 %

NYSE:CATO opened at $6.84 on Tuesday. The Cato Co. has a 52 week low of $6.53 and a 52 week high of $10.78. The stock’s fifty day moving average is $7.34 and its two-hundred day moving average is $7.85. The company has a market capitalization of $140.83 million, a P/E ratio of -97.71 and a beta of 1.06.

Cato (NYSE:CATO) last issued its quarterly earnings data on Thursday, November 16th. The specialty retailer reported ($0.30) earnings per share (EPS) for the quarter. The company had revenue of $158.26 million during the quarter. Cato had a negative net margin of 0.26% and a negative return on equity of 0.83%.

Cato Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, December 18th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, December 15th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 9.94%. Cato’s payout ratio is currently -971.43%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Cato from a “buy” rating to a “hold” rating in a research note on Friday.

Institutional Trading of Cato

Several institutional investors have recently added to or reduced their stakes in CATO. Grantham Mayo Van Otterloo & Co. LLC acquired a new stake in shares of Cato in the first quarter valued at $127,000. Gratia Capital LLC grew its position in Cato by 16.4% in the 1st quarter. Gratia Capital LLC now owns 318,652 shares of the specialty retailer’s stock valued at $2,817,000 after acquiring an additional 44,785 shares in the last quarter. Acadian Asset Management LLC increased its stake in Cato by 135.0% during the first quarter. Acadian Asset Management LLC now owns 71,356 shares of the specialty retailer’s stock worth $628,000 after purchasing an additional 40,988 shares during the period. Aldebaran Capital LLC lifted its position in shares of Cato by 12.0% during the first quarter. Aldebaran Capital LLC now owns 633,778 shares of the specialty retailer’s stock worth $5,603,000 after purchasing an additional 68,133 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in shares of Cato by 20.3% in the first quarter. Janney Montgomery Scott LLC now owns 21,805 shares of the specialty retailer’s stock valued at $193,000 after purchasing an additional 3,676 shares during the period. Institutional investors and hedge funds own 48.61% 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.