Cato Corporation (The)’s (NYSE:CATO) same-store sales dropped 16% in the month of July. Cato Corporation (The)’s stock dropped by 7.4% in the first day of trading following the report.
A number of equities research analysts recently issued reports on CATO shares. MKM Partners reiterated a “neutral” rating and issued a $20.00 price objective (down previously from $23.00) on shares of Cato Corporation (The) in a research report on Friday, June 9th. BidaskClub upgraded Cato Corporation (The) from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st.
In other Cato Corporation (The) news, Director Edward I. Weisiger, Jr. acquired 3,000 shares of the stock in a transaction that occurred on Friday, June 23rd. The shares were bought at an average price of $17.20 per share, for a total transaction of $51,600.00. Following the completion of the transaction, the director now owns 23,084 shares of the company’s stock, valued at approximately $397,044.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 8.98% of the company’s stock.
Shares of Cato Corporation (NYSE CATO) opened at 16.49 on Friday. The stock has a market cap of $415.75 million, a P/E ratio of 13.28 and a beta of 1.10. Cato Corporation has a 12 month low of $15.77 and a 12 month high of $36.64. The company has a 50 day moving average price of $17.28 and a 200-day moving average price of $21.47.
Cato Corporation (The) (NYSE:CATO) last released its earnings results on Thursday, May 18th. The specialty retailer reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.05. Cato Corporation (The) had a net margin of 3.70% and a return on equity of 8.30%. The company had revenue of $237.66 million for the quarter, compared to analysts’ expectations of $245.20 million. During the same quarter in the previous year, the company earned $1.29 EPS. Cato Corporation (The)’s revenue for the quarter was down 16.8% on a year-over-year basis. On average, equities research analysts predict that Cato Corporation will post $1.35 earnings per share for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CATO. Denver Investment Advisors LLC boosted its position in Cato Corporation (The) by 50.3% in the second quarter. Denver Investment Advisors LLC now owns 700,099 shares of the specialty retailer’s stock worth $12,315,000 after buying an additional 234,436 shares during the period. Marshall Wace North America L.P. purchased a new position in Cato Corporation (The) during the second quarter worth $2,633,000. Russell Investments Group Ltd. boosted its position in Cato Corporation (The) by 45.8% in the second quarter. Russell Investments Group Ltd. now owns 38,779 shares of the specialty retailer’s stock worth $682,000 after buying an additional 12,179 shares during the period. Finally, Municipal Employees Retirement System of Michigan boosted its position in Cato Corporation (The) by 21.5% in the second quarter. Municipal Employees Retirement System of Michigan now owns 10,010 shares of the specialty retailer’s stock worth $176,000 after buying an additional 1,770 shares during the period. Institutional investors own 86.78% of the company’s stock.
About Cato Corporation (The)
The Cato Corporation is a fashion specialty retailer. The Company’s merchandise lines include dressy, career, and casual sportswear, dresses, coats, shoes, lingerie, costume jewelry, handbags, men’s wear and lines for kids and newborns. The Company has two segments: the operation of a fashion specialty stores segment (Retail Segment) and a credit card segment (Credit Segment).
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