Cato (NYSE:CATO) Stock Passes Above Two Hundred Day Moving Average - Here's Why

The Cato Co. (NYSE:CATO - Get Free Report)'s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.27 and traded as high as $6.32. Cato shares last traded at $6.30, with a volume of 56,388 shares.

Analyst Ratings Changes

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 Performance

The firm's 50 day moving average is $5.22 and its 200-day moving average is $5.27. The firm has a market cap of $130.41 million, a price-to-earnings ratio of -7.07 and a beta of 1.08.

Cato (NYSE:CATO - Get Free Report) last issued its quarterly earnings data on Thursday, August 22nd. The specialty retailer reported $0.01 earnings per share (EPS) for the quarter. The business had revenue of $168.63 million during the quarter. Cato had a negative return on equity of 9.19% and a negative net margin of 2.71%.

Cato Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 10.73%. The ex-dividend date was Monday, September 16th. Cato's dividend payout ratio (DPR) is presently -76.40%.

Institutional Trading of Cato

A number of institutional investors have recently made changes to their positions in CATO. Point72 DIFC Ltd purchased a new position in shares of Cato during the 2nd quarter valued at about $36,000. BNP Paribas Financial Markets increased its holdings in shares of Cato by 64.6% in the first quarter. BNP Paribas Financial Markets now owns 7,995 shares of the specialty retailer's stock valued at $46,000 after purchasing an additional 3,139 shares during the period. State Board of Administration of Florida Retirement System purchased a new stake in shares of Cato in the first quarter worth about $67,000. Assenagon Asset Management S.A. purchased a new position in shares of Cato in the second quarter valued at approximately $88,000. Finally, AQR Capital Management LLC acquired a new stake in shares of Cato in the second quarter valued at approximately $102,000. Hedge funds and other institutional investors own 61.10% of the company's stock.

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, as well as men's wear, and lines for kids and infants.