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Cato (NYSE:CATO) Downgraded by StockNews.com to "Hold"

Thursday, June 23, 2022 | MarketBeat

Cato (NYSE:CATO - Get Rating) was downgraded by stock analysts at StockNews.com from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Thursday.

Separately, TheStreet upgraded shares of Cato from a "c+" rating to a "b" rating in a report on Thursday, May 19th.

Shares of Cato stock traded up $0.43 during trading hours on Thursday, reaching $12.05. The company's stock had a trading volume of 177,139 shares, compared to its average volume of 121,564. The stock's fifty day simple moving average is $13.00 and its two-hundred day simple moving average is $15.18. The company has a market capitalization of $252.89 million, a P/E ratio of 10.30 and a beta of 0.87. Cato has a one year low of $10.93 and a one year high of $19.89.

Cato (NYSE:CATO - Get Rating) last announced its earnings results on Thursday, May 19th. The specialty retailer reported $0.46 EPS for the quarter. The company had revenue of $206.72 million during the quarter. Cato had a net margin of 3.39% and a return on equity of 9.86%.


Several hedge funds have recently added to or reduced their stakes in CATO. Geode Capital Management LLC boosted its position in shares of Cato by 1.3% in the third quarter. Geode Capital Management LLC now owns 348,713 shares of the specialty retailer's stock valued at $5,767,000 after acquiring an additional 4,503 shares during the period. Two Sigma Advisers LP boosted its position in shares of Cato by 38.5% in the third quarter. Two Sigma Advisers LP now owns 38,100 shares of the specialty retailer's stock valued at $630,000 after acquiring an additional 10,600 shares during the period. New York State Teachers Retirement System boosted its position in shares of Cato by 8.4% in the fourth quarter. New York State Teachers Retirement System now owns 46,810 shares of the specialty retailer's stock valued at $803,000 after acquiring an additional 3,632 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of Cato in the fourth quarter valued at approximately $249,000. Finally, Yousif Capital Management LLC bought a new position in shares of Cato in the fourth quarter valued at approximately $313,000. Institutional investors own 72.49% of the company's stock.

Cato Company Profile (Get Rating)

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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