Cato Corp Same-Store Sales Drop by 7% in March, Stock Drops by 0.7% (NYSE:CATO)

Cato’s (NYSE:CATO) same-store sales fell 7% in the month of March. Cato’s stock dropped by 0.7% in the first full-day of trading following the news.

CATO remained flat at $$13.78 during trading on Monday. 135,634 shares of the company’s stock were exchanged, compared to its average volume of 247,047. Cato has a 52-week low of $13.04 and a 52-week high of $26.88. The company has a market cap of $338.99 million, a price-to-earnings ratio of 10.89 and a beta of 0.41.

Cato (NYSE:CATO) last posted its quarterly earnings data on Thursday, March 21st. The specialty retailer reported ($0.13) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.11). Cato had a net margin of 3.67% and a return on equity of 9.26%. The firm had revenue of $192.44 million during the quarter.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Monday, March 11th were paid a $0.33 dividend. This is a positive change from Cato’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a dividend yield of 9.58%. The ex-dividend date was Friday, March 8th.

Several large investors have recently bought and sold shares of CATO. Quantamental Technologies LLC bought a new stake in shares of Cato in the 4th quarter valued at $61,000. Bank of Montreal Can boosted its stake in shares of Cato by 63.3% in the 4th quarter. Bank of Montreal Can now owns 4,973 shares of the specialty retailer’s stock valued at $72,000 after purchasing an additional 1,928 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in shares of Cato by 449.9% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 8,507 shares of the specialty retailer’s stock valued at $121,000 after purchasing an additional 6,960 shares during the last quarter. Oregon Public Employees Retirement Fund bought a new stake in shares of Cato in the 4th quarter valued at $124,000. Finally, Brandywine Global Investment Management LLC bought a new stake in shares of Cato in the 4th quarter valued at $175,000. 81.14% of the stock is currently owned by institutional investors.

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About Cato

The Cato Corporation, together with its subsidiaries, operates as a specialty retailer of fashion apparel and accessories primarily in the southeastern United States. It operates through two segments, Retail and Credit. The company's stores and e-commerce Websites offer a range of apparel and accessories, including dressy, career, and casual sportswear; and dresses, coats, shoes, lingerie, costume jewelry, and handbags.

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