Cato (NYSE:CATO) Shares Pass Above 200-Day Moving Average – Here’s Why

The Cato Co. (NYSE:CATO) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.32 and traded as high as $6.15. Cato shares last traded at $5.91, with a volume of 29,216 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Cato from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd.

Cato Stock Down 4.0 %

The business’s fifty day simple moving average is $5.39 and its two-hundred day simple moving average is $5.32.

Cato (NYSE:CATO) last released its quarterly earnings results on Thursday, August 22nd. The specialty retailer reported $0.01 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 11.74%. The ex-dividend date of this dividend was Monday, September 16th. Cato’s dividend payout ratio (DPR) is presently -76.40%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets raised its stake in Cato by 64.6% during the 1st quarter. BNP Paribas Financial Markets now owns 7,995 shares of the specialty retailer’s stock worth $46,000 after buying an additional 3,139 shares during the period. Empowered Funds LLC boosted its position in Cato by 8.1% during the 1st 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 last quarter. State Board of Administration of Florida Retirement System bought a new position in Cato in the first quarter valued at $67,000. Vanguard Group Inc. increased its position in shares of Cato by 0.8% in the first quarter. Vanguard Group Inc. now owns 931,094 shares of the specialty retailer’s stock valued at $5,372,000 after acquiring an additional 7,072 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Cato during the 2nd quarter worth approximately $88,000. 61.10% 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, as well as men's wear, and lines for kids and infants.