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 research note published on Tuesday morning.

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

Cato Trading Down 5.9 %

Shares of CATO opened at $5.54 on Tuesday. The stock has a fifty day moving average price of $5.48 and a 200-day moving average price of $6.13. Cato has a 12 month low of $4.56 and a 12 month high of $8.78. The firm has a market cap of $113.90 million, a PE ratio of -6.60 and a beta of 1.08.

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

Cato Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Cato by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 931,094 shares of the specialty retailer’s stock worth $5,372,000 after purchasing an additional 7,072 shares in the last quarter. State Board of Administration of Florida Retirement System acquired a new stake in shares of Cato during the 1st quarter worth approximately $67,000. Marquette Asset Management LLC increased its holdings in Cato by 86.1% in the 1st quarter. Marquette Asset Management LLC now owns 76,345 shares of the specialty retailer’s stock valued at $441,000 after purchasing an additional 35,313 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Cato by 8.1% in the first quarter. Empowered Funds LLC now owns 39,666 shares of the specialty retailer’s stock worth $229,000 after acquiring an additional 2,975 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of Cato by 64.6% in the first quarter. BNP Paribas Financial Markets now owns 7,995 shares of the specialty retailer’s stock worth $46,000 after acquiring an additional 3,139 shares in the last quarter. 61.10% of the stock is owned by hedge funds and other 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.