Cato Corp Same Store Sales Rise 16% in April, Shares Fall by 2.1% (NYSE:CATO)

Cato’s (NYSE:CATO) same-store sales rose 16% during the month of April. Cato’s shares fell by 2.1% in the first day of trading following the report.

CATO stock traded down $0.58 during midday trading on Monday, hitting $13.80. The stock had a trading volume of 152,313 shares, compared to its average volume of 237,404. The stock has a market cap of $353.75 million, a P/E ratio of 11.63 and a beta of 0.41. Cato has a 52 week low of $13.04 and a 52 week high of $26.88.

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

Hedge funds and other institutional investors have recently modified their holdings of the business. Quantamental Technologies LLC bought a new position in shares of Cato during the fourth quarter valued at $61,000. Bank of Montreal Can raised its holdings in shares of Cato by 63.3% in the fourth quarter. Bank of Montreal Can now owns 4,973 shares of the specialty retailer’s stock valued at $72,000 after buying an additional 1,928 shares during the last quarter. Investors Research Corp bought a new position in shares of Cato in the first quarter valued at about $85,000. Metropolitan Life Insurance Co. NY raised its holdings in shares of Cato by 449.9% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 8,507 shares of the specialty retailer’s stock valued at $121,000 after buying an additional 6,960 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund bought a new position in shares of Cato in the fourth quarter valued at about $124,000. 80.52% of the stock is owned by institutional investors.

ILLEGAL ACTIVITY WARNING: This news story was first reported by American Banking News and is owned by of American Banking News. If you are reading this news story on another site, it was illegally stolen and reposted in violation of US and international trademark & copyright law. The correct version of this news story can be accessed at https://www.americanbankingnews.com/2019/05/13/cato-corp-same-store-sales-rise-16-in-april-shares-fall-by-2-1-nysecato.html.

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, as well as men's wear, and lines for kids and infants.

Further Reading: What are different types of coverage ratios?

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.



Leave a Reply