Cato (NYSE:CATO) Stock Crosses Above 200-Day Moving Average – What’s Next?

The Cato Co. (NYSE:CATO)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.27 and traded as high as $6.32. Cato shares last traded at $6.30, with a volume of 56,388 shares traded.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Cato from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd.

Cato Stock Up 3.4 %

The firm has a market capitalization of $129.49 million, a PE ratio of -7.07 and a beta of 1.08. The firm’s fifty day simple moving average is $5.22 and its 200-day simple moving average is $5.27.

Cato (NYSE:CATO) last released its quarterly earnings data on Thursday, August 22nd. The specialty retailer reported $0.01 earnings per share (EPS) for the quarter. Cato had a negative return on equity of 9.19% and a negative net margin of 2.71%. The business had revenue of $168.63 million for the quarter.

Cato Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $0.17 per share. The ex-dividend date was Monday, September 16th. This represents a $0.68 annualized dividend and a dividend yield of 10.80%. Cato’s dividend payout ratio (DPR) is presently -76.40%.

Hedge Funds Weigh In On Cato

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Point72 DIFC Ltd purchased a new stake in Cato during the second quarter valued at $36,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Cato in the second quarter worth approximately $144,000. Vanguard Group Inc. grew its position in Cato by 0.8% during the first quarter. Vanguard Group Inc. now owns 931,094 shares of the specialty retailer’s stock valued at $5,372,000 after buying an additional 7,072 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in Cato during the second quarter valued at approximately $296,000. Finally, Empowered Funds LLC raised its position in Cato by 8.1% in the first quarter. Empowered Funds LLC now owns 39,666 shares of the specialty retailer’s stock worth $229,000 after acquiring an additional 2,975 shares during the period. Institutional investors own 61.10% of the company’s stock.

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.