Cato Corp Same Store Sales Rise 16% in April, Stock Drops by 2.1% (NYSE:CATO)

Cato’s (NYSE:CATO) same-store sales increased by 16% in the month of April. Cato’s stock fell by 2.1% in the first day of trading following the report.

Cato stock opened at $13.44 on Friday. Cato has a 12 month low of $13.04 and a 12 month high of $26.88. The company has a market capitalization of $338.02 million, a price-to-earnings ratio of 11.17 and a beta of 0.41.

Cato (NYSE:CATO) last released its quarterly earnings data on Thursday, March 21st. The specialty retailer reported ($0.13) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.11). Cato had a return on equity of 9.26% and a net margin of 3.67%. The company had revenue of $192.44 million during the quarter.

Several large investors have recently made changes to their positions in CATO. Wells Fargo & Company MN lifted its position in shares of Cato by 12.3% during the 3rd quarter. Wells Fargo & Company MN now owns 41,483 shares of the specialty retailer’s stock valued at $872,000 after buying an additional 4,547 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Cato by 2.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 634,910 shares of the specialty retailer’s stock valued at $13,346,000 after buying an additional 17,792 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Cato by 646.6% during the 3rd quarter. Renaissance Technologies LLC now owns 109,750 shares of the specialty retailer’s stock valued at $2,307,000 after buying an additional 95,050 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Cato during the 3rd quarter valued at approximately $290,000. Finally, MetLife Investment Advisors LLC lifted its position in shares of Cato by 72.8% during the 3rd quarter. MetLife Investment Advisors LLC now owns 16,522 shares of the specialty retailer’s stock valued at $347,000 after buying an additional 6,960 shares in the last quarter. Hedge funds and other institutional investors own 80.55% of the company’s stock.

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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.

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