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

The Cato Co. (NYSE:CATOGet Free Report) 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:CATOGet Free Report) 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, cut shares of Cato from a “buy” rating to a “hold” rating in a research note on Friday.

View Our Latest Report on Cato

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

(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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