Cato Corporation (The)’s (NYSE:CATO) same store sales decreased by 7% in the month of October. Cato Corporation (The)’s shares climbed by 2.2% in the first day of trading following the news.

Several analysts recently issued reports on the company. BidaskClub downgraded Cato Corporation (The) from a “sell” rating to a “strong sell” rating in a research note on Thursday, October 5th. TheStreet downgraded Cato Corporation (The) from a “c” rating to a “d+” rating in a research note on Thursday, August 17th.

In other Cato Corporation (The) news, Director Daniel Harding Stowe bought 2,500 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The shares were bought at an average price of $13.71 per share, with a total value of $34,275.00. Following the purchase, the director now owns 16,686 shares of the company’s stock, valued at $228,765.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 9.58% of the stock is currently owned by company insiders.

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Cato Corporation (The) (NYSE:CATO) last issued its quarterly earnings results on Thursday, August 17th. The specialty retailer reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.14). The business had revenue of $207.00 million for the quarter, compared to analysts’ expectations of $209.50 million. Cato Corporation (The) had a return on equity of 4.37% and a net margin of 1.92%. The business’s revenue for the quarter was down 13.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.57 EPS.

A number of hedge funds have recently modified their holdings of CATO. Russell Investments Group Ltd. boosted its position in Cato Corporation (The) by 45.8% during the second quarter. Russell Investments Group Ltd. now owns 38,779 shares of the specialty retailer’s stock worth $682,000 after purchasing an additional 12,179 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its position in Cato Corporation (The) by 21.5% during the second 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. Denver Investment Advisors LLC boosted its position in Cato Corporation (The) by 50.3% during the second quarter. Denver Investment Advisors LLC now owns 700,099 shares of the specialty retailer’s stock worth $12,315,000 after purchasing an additional 234,436 shares in the last quarter. Marshall Wace North America L.P. purchased a new position in Cato Corporation (The) during the second quarter worth approximately $2,633,000. Finally, Airain ltd boosted its position in Cato Corporation (The) by 15.3% during the second 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. Institutional investors own 80.78% of the company’s stock.

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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