Cato Corp Same Store Sales Drop by 6% in January, Shares Fall by 5.2% (NYSE:CATO)

Cato’s (NYSE:CATO) same-store sales dropped 6% during the month of January. Cato’s shares fell by 5.2% in the first day of trading following the report.

Several research analysts recently commented on the company. BidaskClub raised Cato from a “strong sell” rating to a “sell” rating in a research report on Saturday, November 11th. TheStreet raised Cato from a “d+” rating to a “c-” rating in a research report on Wednesday, December 6th.

Shares of Cato (NYSE:CATO) traded down $0.56 during midday trading on Thursday, hitting $11.11. The company’s stock had a trading volume of 45,530 shares, compared to its average volume of 280,348. The company has a market capitalization of $267.21, a PE ratio of 25.51 and a beta of 0.95. Cato has a 12 month low of $11.00 and a 12 month high of $27.16.

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

Several hedge funds and other institutional investors have recently modified their holdings of CATO. Assenagon Asset Management S.A. bought a new position in shares of Cato during the fourth quarter valued at $2,169,000. State Street Corp lifted its holdings in shares of Cato by 11.3% during the second quarter. State Street Corp now owns 880,952 shares of the specialty retailer’s stock valued at $15,494,000 after acquiring an additional 89,475 shares during the period. California Public Employees Retirement System lifted its holdings in shares of Cato by 27.2% during the fourth quarter. California Public Employees Retirement System now owns 195,929 shares of the specialty retailer’s stock valued at $3,119,000 after acquiring an additional 41,879 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Cato by 17.8% during the second quarter. Ameriprise Financial Inc. now owns 271,666 shares of the specialty retailer’s stock valued at $4,779,000 after acquiring an additional 41,038 shares during the period. Finally, TIAA CREF Investment Management LLC lifted its holdings in shares of Cato by 35.6% during the second quarter. TIAA CREF Investment Management LLC now owns 132,673 shares of the specialty retailer’s stock valued at $2,334,000 after acquiring an additional 34,838 shares during the period. 88.14% 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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