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.
ILLEGAL ACTIVITY WARNING: This piece was originally posted by American Banking News and is the sole property of of American Banking News. If you are reading this piece on another site, it was stolen and republished in violation of international trademark and copyright law. The original version of this piece can be viewed at https://www.americanbankingnews.com/2019/04/15/cato-corp-same-store-sales-drop-by-7-in-march-stock-drops-by-0-7-nysecato.html.
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.
Featured Article: What is a Swap?
Receive News & Ratings for Cato Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cato and related companies with MarketBeat.com's FREE daily email newsletter.