Arizona State Retirement System decreased its holdings in shares of Cato Corporation (The) (NYSE:CATO) by 3.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,550 shares of the specialty retailer’s stock after selling 500 shares during the quarter. Arizona State Retirement System’s holdings in Cato Corporation (The) were worth $221,000 as of its most recent SEC filing.
Separately, Russell Investments Group Ltd. boosted its holdings in Cato Corporation (The) by 45.8% during the second quarter. Russell Investments Group Ltd. now owns 38,779 shares of the specialty retailer’s stock worth $682,000 after purchasing an additional 12,179 shares during the last quarter. 88.41% of the stock is currently owned by institutional investors.
In related news, Director Daniel Harding Stowe purchased 7,000 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The shares were purchased at an average cost of $14.27 per share, for a total transaction of $99,890.00. Following the completion of the transaction, the director now directly owns 16,686 shares in the company, valued at approximately $238,109.22. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Edward I. Weisiger, Jr. purchased 3,000 shares of the firm’s stock in a transaction dated Friday, June 23rd. The shares were bought at an average price of $17.20 per share, for a total transaction of $51,600.00. Following the completion of the transaction, the director now owns 23,084 shares of the company’s stock, valued at $397,044.80. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 12,500 shares of company stock worth $185,765. Insiders own 8.98% of the company’s stock.
Shares of Cato Corporation (NYSE:CATO) opened at 13.20 on Wednesday. The firm has a 50-day moving average of $14.86 and a 200-day moving average of $19.11. The firm has a market cap of $327.76 million, a PE ratio of 20.85 and a beta of 1.13. Cato Corporation has a 52 week low of $12.20 and a 52 week high of $36.64.
Cato Corporation (The) (NYSE:CATO) last issued its quarterly earnings results on Thursday, August 17th. The specialty retailer reported ($0.03) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.14). The company had revenue of $207.00 million during the quarter, compared to analysts’ expectations of $209.50 million. Cato Corporation (The) had a return on equity of 4.37% and a net margin of 1.92%. Cato Corporation (The)’s quarterly revenue was down 13.4% compared to the same quarter last year. During the same period last year, the firm posted $0.57 earnings per share. On average, analysts expect that Cato Corporation will post $0.85 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 25th. Shareholders of record on Monday, September 11th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 10.00%. The ex-dividend date is Friday, September 8th. Cato Corporation (The)’s dividend payout ratio (DPR) is presently 206.25%.
CATO has been the subject of several recent research reports. MKM Partners restated a “neutral” rating and set a $20.00 target price (down previously from $23.00) on shares of Cato Corporation (The) in a report on Friday, June 9th. BidaskClub cut shares of Cato Corporation (The) from a “sell” rating to a “strong sell” rating in a report on Friday, August 11th. Finally, TheStreet cut shares of Cato Corporation (The) from a “c” rating to a “d+” rating in a report on Thursday, August 17th.
About Cato Corporation (The)
The Cato Corporation is a fashion specialty retailer. The Company’s merchandise lines include dressy, career, and casual sportswear, dresses, coats, shoes, lingerie, costume jewelry, handbags, men’s wear and lines for kids and newborns. The Company has two segments: the operation of a fashion specialty stores segment (Retail Segment) and a credit card segment (Credit Segment).
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