Cato (CATO) Upgraded to C- by TheStreet

Cato (NYSE:CATO) was upgraded by TheStreet from a “d+” rating to a “c-” rating in a report issued on Wednesday.

Separately, BidaskClub cut shares of Cato from a “sell” rating to a “strong sell” rating in a report on Friday, August 11th.

Shares of Cato (NYSE:CATO) traded down $0.33 during midday trading on Wednesday, reaching $15.74. 222,100 shares of the company’s stock were exchanged, compared to its average volume of 301,047. Cato has a twelve month low of $12.20 and a twelve month high of $31.89. The company has a market capitalization of $374.05, a PE ratio of 35.71 and a beta of 1.21.

Cato (NYSE:CATO) last issued its quarterly earnings results on Thursday, November 16th. The specialty retailer reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.03. Cato had a net margin of 1.31% and a return on equity of 3.04%. The business had revenue of $190.30 million for the quarter, compared to analysts’ expectations of $188.00 million. During the same period last year, the business earned $0.30 earnings per share. The business’s quarterly revenue was down 9.1% on a year-over-year basis.

A number of hedge funds have recently made changes to their positions in CATO. Russell Investments Group Ltd. lifted its stake in Cato by 45.8% in the second quarter. Russell Investments Group Ltd. now owns 38,779 shares of the specialty retailer’s stock worth $682,000 after acquiring an additional 12,179 shares during the period. Municipal Employees Retirement System of Michigan lifted its stake in Cato by 21.5% in the second quarter. Municipal Employees Retirement System of Michigan now owns 10,010 shares of the specialty retailer’s stock worth $176,000 after acquiring an additional 1,770 shares during the period. Denver Investment Advisors LLC lifted its stake in Cato by 50.3% in the second quarter. Denver Investment Advisors LLC now owns 700,099 shares of the specialty retailer’s stock worth $12,315,000 after acquiring an additional 234,436 shares during the period. Marshall Wace North America L.P. purchased a new stake in Cato in the second quarter worth $2,633,000. Finally, Airain ltd lifted its stake in Cato by 15.3% in the second quarter. Airain ltd now owns 31,598 shares of the specialty retailer’s stock worth $556,000 after acquiring an additional 4,199 shares during the period. 87.59% of the stock is owned by institutional investors.

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About Cato

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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