The Cato Co. (NYSE:CATO) Short Interest Update

The Cato Co. (NYSE:CATOGet Rating) was the target of a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 1,340,000 shares, an increase of 6.3% from the August 15th total of 1,260,000 shares. Currently, 7.7% of the shares of the stock are sold short. Based on an average daily volume of 120,500 shares, the days-to-cover ratio is presently 11.1 days.

Institutional Trading of Cato

Institutional investors and hedge funds have recently modified their holdings of the business. Koshinski Asset Management Inc. purchased a new stake in shares of Cato in the 1st quarter valued at about $26,000. Gladius Capital Management LP purchased a new position in shares of Cato during the 2nd quarter valued at about $39,000. Amalgamated Bank purchased a new position in shares of Cato during the 1st quarter valued at about $128,000. MetLife Investment Management LLC raised its holdings in shares of Cato by 52.0% during the 1st quarter. MetLife Investment Management LLC now owns 11,692 shares of the specialty retailer’s stock valued at $171,000 after buying an additional 3,998 shares in the last quarter. Finally, Hightower 6M Holding LLC purchased a new position in shares of Cato during the 1st quarter valued at about $183,000. Hedge funds and other institutional investors own 70.73% of the company’s stock.

Cato Stock Down 0.3 %

NYSE:CATO opened at $9.40 on Thursday. The business’s 50-day moving average price is $11.48 and its two-hundred day moving average price is $12.83. Cato has a twelve month low of $9.07 and a twelve month high of $19.89. The stock has a market cap of $199.10 million, a P/E ratio of 21.36 and a beta of 0.89.

Cato Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 26th. Shareholders of record on Monday, September 12th will be issued a $0.17 dividend. The ex-dividend date is Friday, September 9th. This represents a $0.68 annualized dividend and a dividend yield of 7.23%. Cato’s payout ratio is currently 154.55%.

Wall Street Analyst Weigh In

CATO has been the subject of several analyst reports. StockNews.com downgraded Cato from a “buy” rating to a “hold” rating in a research note on Thursday, June 23rd. TheStreet downgraded Cato from a “b-” rating to a “c” rating in a research note on Thursday, August 18th.

Cato Company Profile

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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.

Further Reading

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