Cato (NYSE:CATO) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

The Cato Co. (NYSE:CATO) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.21 and traded as high as $6.35. Cato shares last traded at $6.22, with a volume of 310,503 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Cato from a “buy” rating to a “hold” rating in a report on Friday, August 23rd.

Cato Stock Down 5.3 %

The stock has a market cap of $127.85 million, a price-to-earnings ratio of -7.86 and a beta of 1.13. The stock’s fifty day moving average is $5.08 and its 200-day moving average is $5.22.

Cato (NYSE:CATO) last announced its quarterly earnings results on Thursday, August 22nd. The specialty retailer reported $0.01 earnings per share (EPS) for the quarter. The company had revenue of $168.63 million during the quarter. Cato had a negative net margin of 2.71% and a negative return on equity of 9.19%.

Cato Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 10.93%. The ex-dividend date of this dividend was Monday, September 16th. Cato’s dividend payout ratio is currently -80.95%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of Cato by 0.8% in the first quarter. Vanguard Group Inc. now owns 931,094 shares of the specialty retailer’s stock valued at $5,372,000 after purchasing an additional 7,072 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Cato by 1.4% in the 2nd quarter. Renaissance Technologies LLC now owns 580,202 shares of the specialty retailer’s stock valued at $3,214,000 after acquiring an additional 8,000 shares in the last quarter. Acuitas Investments LLC boosted its position in Cato by 18.8% during the 2nd quarter. Acuitas Investments LLC now owns 492,629 shares of the specialty retailer’s stock worth $2,729,000 after acquiring an additional 78,041 shares during the last quarter. Marquette Asset Management LLC grew its stake in shares of Cato by 86.1% during the 1st quarter. Marquette Asset Management LLC now owns 76,345 shares of the specialty retailer’s stock worth $441,000 after acquiring an additional 35,313 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Cato in the second quarter valued at approximately $296,000. Institutional investors own 61.10% of the company’s stock.

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.