Cato Corp’s Same Store Sales Numbers Miss Analysts’ Expectations (NYSE:CATO)

Cato’s (NYSE:CATO) same-store sales dropped 1% in the month of September. Cato’s stock fell by 0.6% in the first day of trading following the news.

Separately, ValuEngine upgraded shares of Cato from a “hold” rating to a “buy” rating in a research report on Wednesday, October 31st.

Cato stock traded down $1.01 during mid-day trading on Friday, hitting $18.32. The company’s stock had a trading volume of 274,819 shares, compared to its average volume of 255,028. The firm has a market cap of $521.07 million, a price-to-earnings ratio of 18.05 and a beta of 0.55. Cato has a twelve month low of $10.76 and a twelve month high of $26.88.

Cato (NYSE:CATO) last posted its quarterly earnings results 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 business had revenue of $208.92 million during the quarter. Cato had a return on equity of 8.70% and a net margin of 2.01%.

A number of institutional investors have recently bought and sold shares of CATO. BlackRock Inc. boosted its stake in Cato by 29.3% in the 1st quarter. BlackRock Inc. now owns 4,088,134 shares of the specialty retailer’s stock worth $60,257,000 after purchasing an additional 926,833 shares during the period. WINTON GROUP Ltd acquired a new position in Cato in the 2nd quarter worth approximately $9,310,000. Acadian Asset Management LLC boosted its stake in Cato by 119.3% in the 3rd quarter. Acadian Asset Management LLC now owns 520,027 shares of the specialty retailer’s stock worth $10,931,000 after purchasing an additional 282,910 shares during the period. Spark Investment Management LLC acquired a new position in Cato in the 2nd quarter worth approximately $3,040,000. Finally, Millennium Management LLC boosted its stake in Cato by 171.2% in the 2nd quarter. Millennium Management LLC now owns 164,761 shares of the specialty retailer’s stock worth $4,056,000 after purchasing an additional 104,006 shares during the period. 80.42% of the stock is owned by hedge funds and other institutional investors.

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Cato Company Profile

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.

See Also: Intrinsic Value

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