Cato Corp’s June Same-Store Sales Numbers Beat Expectations, Stock Climbs by 5.3% (NYSE:CATO)

Cato’s (NYSE:CATO) same-store sales increased by 8% during the month of June. Cato’s stock climbed by 5.3% in the first full-day of trading following the news.

Separately, ValuEngine upgraded shares of XOMA from a “sell” rating to a “hold” rating in a research note on Friday, May 24th.

Cato stock traded up $0.70 during mid-day trading on Thursday, reaching $13.86. The company’s stock had a trading volume of 389,774 shares, compared to its average volume of 252,503. Cato has a 12-month low of $11.85 and a 12-month high of $26.88. The firm has a market cap of $319.27 million, a P/E ratio of 11.11 and a beta of 0.55. The company has a quick ratio of 1.39, a current ratio of 2.01 and a debt-to-equity ratio of 0.41. The stock has a fifty day moving average of $12.76.

Cato (NYSE:CATO) last released its quarterly earnings results on Thursday, May 23rd. The specialty retailer reported $0.87 EPS for the quarter. The firm had revenue of $230.35 million during the quarter. Cato had a net margin of 3.44% and a return on equity of 8.69%.

The company also recently declared a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Monday, June 10th were given a dividend of $0.33 per share. The ex-dividend date was Friday, June 7th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 9.52%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dalton Greiner Hartman Maher & Co. bought a new position in Cato during the second quarter valued at approximately $3,591,000. WINTON GROUP Ltd bought a new position in Cato during the second quarter valued at approximately $268,000. Paradigm Capital Management Inc. NY bought a new position in Cato during the first quarter valued at approximately $315,000. Ontario Teachers Pension Plan Board bought a new position in Cato during the first quarter valued at approximately $441,000. Finally, Royce & Associates LP lifted its position in Cato by 32.9% during the first quarter. Royce & Associates LP now owns 99,521 shares of the specialty retailer’s stock valued at $1,491,000 after purchasing an additional 24,645 shares during the period. Hedge funds and other institutional investors own 80.23% 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.

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