Cato (NYSE:CATO) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Cato (NYSE:CATO) from a buy rating to a hold rating in a report released on Tuesday morning.

Separately, TheStreet lowered Cato from a c- rating to a d+ rating in a research note on Monday, March 18th.

Cato Stock Down 5.9 %

CATO stock opened at $5.54 on Tuesday. Cato has a twelve month low of $4.56 and a twelve month high of $8.78. The stock’s 50 day moving average is $5.48 and its 200-day moving average is $6.13. The firm has a market capitalization of $113.90 million, a PE ratio of -6.60 and a beta of 1.08.

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

Cato Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Monday, June 10th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, June 10th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 12.27%. Cato’s payout ratio is -80.95%.

Institutional Trading of Cato

A number of hedge funds and other institutional investors have recently made changes to their positions in CATO. Barclays PLC increased its position in shares of Cato by 46.0% during the 3rd quarter. Barclays PLC now owns 5,801 shares of the specialty retailer’s stock valued at $45,000 after purchasing an additional 1,827 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Cato during the 3rd quarter valued at about $310,000. Trexquant Investment LP boosted its holdings in Cato by 101.8% during the 3rd quarter. Trexquant Investment LP now owns 56,279 shares of the specialty retailer’s stock valued at $431,000 after acquiring an additional 28,394 shares during the period. GSA Capital Partners LLP boosted its holdings in Cato by 19.8% during the 3rd quarter. GSA Capital Partners LLP now owns 114,939 shares of the specialty retailer’s stock valued at $880,000 after acquiring an additional 19,026 shares during the period. Finally, Gladius Capital Management LP lifted its holdings 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 buying an additional 2,368 shares during the period. 61.10% of the stock is currently owned by institutional investors.

Cato Company Profile

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.