Cato Corporation (The) (CATO) Declares Quarterly Dividend of $0.33

Cato Corporation (The) (NYSE:CATO) announced a quarterly dividend on Friday, August 25th, Wall Street Journal reports. Stockholders of record on Monday, September 11th will be given a dividend of 0.33 per share by the specialty retailer on Monday, September 25th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 9.59%. The ex-dividend date of this dividend is Friday, September 8th.

Cato Corporation (The) has increased its dividend by an average of 103.3% annually over the last three years and has raised its dividend annually for the last 7 consecutive years. Cato Corporation (The) has a payout ratio of 78.6% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble.

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Shares of Cato Corporation (NYSE CATO) opened at 13.77 on Friday. The stock’s 50 day moving average price is $15.85 and its 200-day moving average price is $20.12. Cato Corporation has a 52-week low of $12.20 and a 52-week high of $36.64. The firm has a market cap of $404.37 million, a price-to-earnings ratio of 22.69 and a beta of 1.10.

Cato Corporation (The) (NYSE:CATO) last released its earnings results on Thursday, August 17th. The specialty retailer reported ($0.03) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by $0.14. Cato Corporation (The) had a net margin of 1.92% and a return on equity of 4.37%. The business had revenue of $207 million for the quarter, compared to analysts’ expectations of $209.50 million. During the same quarter in the previous year, the business posted $0.57 earnings per share. Cato Corporation (The)’s revenue for the quarter was down 13.4% on a year-over-year basis. On average, analysts forecast that Cato Corporation will post $1.35 EPS for the current year.

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In other news, Director Daniel Harding Stowe acquired 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was bought at an average cost of $14.27 per share, for a total transaction of $99,890.00. Following the acquisition, the director now directly owns 16,686 shares in the company, valued at $238,109.22. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Edward I. Weisiger, Jr. acquired 3,000 shares of the firm’s stock in a transaction that occurred on Friday, June 23rd. The stock was purchased at an average price of $17.20 per share, with a total value of $51,600.00. Following the completion of the acquisition, the director now owns 23,084 shares in the company, valued at $397,044.80. The disclosure for this purchase can be found here. Insiders have bought 13,500 shares of company stock valued at $202,525 over the last quarter. Company insiders own 8.98% of the company’s stock.

Several equities analysts have recently issued reports on CATO shares. MKM Partners reiterated a “neutral” rating and set a $20.00 target price (down from $23.00) on shares of Cato Corporation (The) in a report on Friday, June 9th. BidaskClub lowered shares of Cato Corporation (The) from a “sell” rating to a “strong sell” rating in a report on Friday, August 11th. Finally, TheStreet lowered shares of Cato Corporation (The) from a “c” rating to a “d+” rating in a report on Thursday, August 17th.

Cato Corporation (The) Company Profile

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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