Comerica Bank lessened its holdings in shares of Cato Corporation (The) (NYSE:CATO) by 8.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,405 shares of the specialty retailer’s stock after selling 2,332 shares during the quarter. Comerica Bank owned approximately 0.10% of Cato Corporation (The) worth $417,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the company. Denver Investment Advisors LLC boosted its stake in shares of Cato Corporation (The) by 50.3% during the 2nd quarter. Denver Investment Advisors LLC now owns 700,099 shares of the specialty retailer’s stock worth $12,315,000 after acquiring an additional 234,436 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in shares of Cato Corporation (The) by 21.5% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 10,010 shares of the specialty retailer’s stock worth $176,000 after acquiring an additional 1,770 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of Cato Corporation (The) by 45.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 38,779 shares of the specialty retailer’s stock worth $682,000 after acquiring an additional 12,179 shares during the last quarter. Institutional investors and hedge funds own 88.41% of the company’s stock.

Cato Corporation (NYSE CATO) opened at 13.54 on Tuesday. Cato Corporation has a 52 week low of $12.20 and a 52 week high of $36.64. The stock’s 50 day moving average is $14.26 and its 200 day moving average is $18.61. The stock has a market cap of $336.20 million, a PE ratio of 21.39 and a beta of 1.13.

Cato Corporation (The) (NYSE:CATO) last released its quarterly earnings data on Thursday, August 17th. The specialty retailer reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.14). The business had revenue of $207.00 million during the quarter, compared to analysts’ expectations of $209.50 million. Cato Corporation (The) had a net margin of 1.92% and a return on equity of 4.37%. The firm’s revenue was down 13.4% on a year-over-year basis. During the same period last year, the company earned $0.57 earnings per share. Analysts predict that Cato Corporation will post $0.85 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, September 25th. Investors of record on Monday, September 11th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 10.15%. The ex-dividend date of this dividend was Friday, September 8th. Cato Corporation (The)’s dividend payout ratio (DPR) is presently 206.25%.

Several brokerages have recently weighed in on CATO. MKM Partners reiterated a “neutral” rating and set a $20.00 price target (down previously from $23.00) on shares of Cato Corporation (The) in a research note on Friday, June 9th. BidaskClub upgraded shares of Cato Corporation (The) from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Finally, TheStreet cut shares of Cato Corporation (The) from a “c” rating to a “d+” rating in a research note on Thursday, August 17th.

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In other news, Director Daniel Harding Stowe purchased 7,000 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The shares were purchased at an average cost of $14.27 per share, with a total value of $99,890.00. Following the completion of the acquisition, the director now owns 16,686 shares of the company’s stock, valued at approximately $238,109.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 8.98% of the company’s stock.

Cato Corporation (The) Company Profile

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).

Institutional Ownership by Quarter for Cato Corporation (The) (NYSE:CATO)

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