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

Cato (NYSE:CATOGet Rating) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

Separately, TheStreet upgraded Cato from a “c+” rating to a “b” rating in a research report on Thursday, May 19th.

Shares of Cato stock traded up $0.43 on Thursday, reaching $12.05. 177,139 shares of the stock were exchanged, compared to its average volume of 121,564. Cato has a twelve month low of $10.93 and a twelve month high of $19.89. The firm has a market capitalization of $252.89 million, a price-to-earnings ratio of 10.30 and a beta of 0.87. The business has a 50 day moving average price of $13.00 and a two-hundred day moving average price of $15.18.

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

Hedge funds and other institutional investors have recently modified their holdings of the business. Koshinski Asset Management Inc. acquired a new stake in shares of Cato in the 1st quarter valued at about $26,000. MetLife Investment Management LLC boosted its position in shares of Cato by 52.0% in the 1st quarter. MetLife Investment Management LLC now owns 11,692 shares of the specialty retailer’s stock valued at $171,000 after purchasing an additional 3,998 shares during the period. Hightower 6M Holding LLC acquired a new stake in shares of Cato in the 1st quarter valued at about $183,000. Jane Street Group LLC acquired a new stake in shares of Cato in the 1st quarter valued at about $237,000. Finally, MTM Investment Management LLC boosted its position in shares of Cato by 10.4% in the 4th quarter. MTM Investment Management LLC now owns 14,004 shares of the specialty retailer’s stock valued at $240,000 after purchasing an additional 1,316 shares during the period. 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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