Cato Corporation (The)’s (NYSE:CATO) same-store sales decreased by 11% during the month of September. Cato Corporation (The)’s stock climbed by 4.5% in the first day of trading following the report.

CATO has been the topic of several research analyst reports. TheStreet cut Cato Corporation (The) from a “c” rating to a “d+” rating in a research note on Thursday, August 17th. MKM Partners reissued a “neutral” rating and set a $20.00 target price (down from $23.00) on shares of Cato Corporation (The) in a research note on Friday, June 9th. Finally, BidaskClub raised Cato Corporation (The) from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st.

In related news, Director Daniel Harding Stowe bought 7,000 shares of the company’s stock in a transaction on Tuesday, August 22nd. The shares were acquired at an average cost of $14.27 per share, with a total value of $99,890.00. Following the completion of the acquisition, the director now owns 16,686 shares of the company’s stock, valued at approximately $238,109.22. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 8.98% of the company’s stock.

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Shares of Cato Corporation (NYSE:CATO) traded up 4.53% on Thursday, hitting $13.61. The stock had a trading volume of 369,321 shares. Cato Corporation has a 12 month low of $12.20 and a 12 month high of $36.64. The company’s 50 day moving average price is $13.44 and its 200-day moving average price is $17.89. The company has a market cap of $337.94 million, a P/E ratio of 21.50 and a beta of 1.13.

Cato Corporation (The) (NYSE:CATO) last announced its quarterly earnings results on Thursday, August 17th. The specialty retailer reported ($0.03) earnings per share (EPS) for the quarter, missing the Zacks’ 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 company had revenue of $207.00 million during the quarter, compared to analysts’ expectations of $209.50 million. During the same quarter in the prior year, the business posted $0.57 earnings per share. The company’s revenue was down 13.4% compared to the same quarter last year. On average, analysts expect that Cato Corporation will post $0.85 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 25th. Stockholders of record on Monday, September 11th were given a $0.33 dividend. The ex-dividend date was Friday, September 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 9.70%. Cato Corporation (The)’s payout ratio is 206.25%.

Several institutional investors have recently bought and sold shares of CATO. Municipal Employees Retirement System of Michigan boosted its position in shares of Cato Corporation (The) by 21.5% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 10,010 shares of the specialty retailer’s stock worth $176,000 after purchasing an additional 1,770 shares in the last quarter. Tudor Investment Corp ET AL acquired a new stake in shares of Cato Corporation (The) in the 2nd quarter worth $339,000. Nationwide Fund Advisors boosted its position in shares of Cato Corporation (The) by 20.1% in the 2nd quarter. Nationwide Fund Advisors now owns 21,618 shares of the specialty retailer’s stock worth $380,000 after purchasing an additional 3,616 shares in the last quarter. Airain ltd boosted its position in shares of Cato Corporation (The) by 15.3% in the 2nd quarter. Airain ltd now owns 31,598 shares of the specialty retailer’s stock worth $556,000 after purchasing an additional 4,199 shares in the last quarter. Finally, AMG National Trust Bank boosted its position in shares of Cato Corporation (The) by 7.4% in the 2nd quarter. AMG National Trust Bank now owns 38,676 shares of the specialty retailer’s stock worth $681,000 after purchasing an additional 2,674 shares in the last quarter. 88.41% of the stock is owned by hedge funds and other institutional investors.

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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