Cato’s (NYSE:CATO) same-store sales dropped 8% in the month of November. Cato’s stock dropped by 7.4% in the first full-day of trading following the report.

A number of brokerages have recently issued reports on CATO. BidaskClub raised Cato from a “strong sell” rating to a “sell” rating in a research report on Saturday, November 11th. TheStreet lowered Cato from a “c” rating to a “d+” rating in a research report on Thursday, August 17th.

Shares of Cato (NYSE:CATO) traded up $0.24 during mid-day trading on Tuesday, reaching $16.11. The company’s stock had a trading volume of 272,100 shares, compared to its average volume of 302,139. Cato has a 12 month low of $12.20 and a 12 month high of $31.89. The firm has a market capitalization of $369.39, a P/E ratio of 35.27 and a beta of 1.21.

Cato (NYSE:CATO) last issued its earnings results on Thursday, November 16th. The specialty retailer reported $0.11 EPS for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.03. Cato had a return on equity of 3.04% and a net margin of 1.31%. The company had revenue of $190.30 million during the quarter, compared to the consensus estimate of $188.00 million. During the same period in the previous year, the firm posted $0.30 earnings per share. Cato’s quarterly revenue was down 9.1% compared to the same quarter last year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, December 11th will be issued a dividend of $0.33 per share. The ex-dividend date is Friday, December 8th. This represents a $1.32 annualized dividend and a yield of 8.19%. Cato’s payout ratio is 293.33%.

A number of large investors have recently made changes to their positions in CATO. Aperio Group LLC bought a new position in shares of Cato in the third quarter valued at $450,000. State Street Corp increased its holdings in shares of Cato by 11.3% in the second quarter. State Street Corp now owns 880,952 shares of the specialty retailer’s stock valued at $15,494,000 after buying an additional 89,475 shares in the last quarter. Tudor Investment Corp ET AL bought a new position in shares of Cato in the second quarter valued at $339,000. Parametric Portfolio Associates LLC increased its holdings in shares of Cato by 13.7% in the second quarter. Parametric Portfolio Associates LLC now owns 78,168 shares of the specialty retailer’s stock valued at $1,375,000 after buying an additional 9,434 shares in the last quarter. Finally, Pinebridge Investments L.P. increased its holdings in shares of Cato by 15.5% in the second quarter. Pinebridge Investments L.P. now owns 41,454 shares of the specialty retailer’s stock valued at $729,000 after buying an additional 5,553 shares in the last quarter. 87.59% of the stock is currently owned by hedge funds and other institutional investors.

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Cato 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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