Cato Corp Same-Store Sales Increase by 2% in July (NYSE:CATO)

Cato’s (NYSE:CATO) same-store sales climbed 2% during the month of July. Cato’s shares climbed by 0% in the first day of trading following the report.

CATO has been the topic of a number of research analyst reports. MKM Partners set a $23.00 price target on Cato and gave the stock a “hold” rating in a report on Wednesday, July 11th. ValuEngine cut Cato from a “hold” rating to a “sell” rating in a report on Wednesday, May 23rd.

NYSE CATO traded up $0.98 during trading hours on Friday, reaching $21.45. The company’s stock had a trading volume of 243,500 shares, compared to its average volume of 339,491. The stock has a market cap of $536.08 million, a PE ratio of 18.25 and a beta of 0.71. Cato has a 1 year low of $10.76 and a 1 year high of $26.88.

Cato (NYSE:CATO) last issued its quarterly earnings data on Thursday, August 23rd. The specialty retailer reported $0.26 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.04). The firm had revenue of $208.92 million for the quarter. Cato had a return on equity of 8.70% and a net margin of 2.01%.

Several institutional investors and hedge funds have recently modified their holdings of CATO. BlackRock Inc. raised its holdings in shares of Cato by 29.3% during the 1st quarter. BlackRock Inc. now owns 4,088,134 shares of the specialty retailer’s stock worth $60,257,000 after acquiring an additional 926,833 shares in the last quarter. WINTON GROUP Ltd purchased a new stake in shares of Cato during the 2nd quarter worth approximately $9,310,000. Acadian Asset Management LLC raised its holdings in shares of Cato by 593.9% during the 2nd quarter. Acadian Asset Management LLC now owns 237,117 shares of the specialty retailer’s stock worth $5,837,000 after acquiring an additional 202,945 shares in the last quarter. Spark Investment Management LLC purchased a new stake in shares of Cato during the 2nd quarter worth approximately $3,040,000. Finally, Guggenheim Capital LLC raised its holdings in shares of Cato by 321.7% during the 4th quarter. Guggenheim Capital LLC now owns 144,840 shares of the specialty retailer’s stock worth $2,306,000 after acquiring an additional 110,496 shares in the last quarter. 77.90% of the stock is currently owned by institutional investors and hedge funds.

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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