Cato (NYSE:CATO) Share Price Crosses Above 200-Day Moving Average – Should You Sell?

The Cato Co. (NYSE:CATO) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $5.32 and traded as high as $6.15. Cato shares last traded at $5.91, with a volume of 29,216 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Cato from a “buy” rating to a “hold” rating in a report on Friday, August 23rd.

Cato Trading Up 0.2 %

The stock has a market capitalization of $121.57 million, a PE ratio of -6.64 and a beta of 1.08. The firm’s fifty day moving average is $5.37 and its 200-day moving average is $5.32.

Cato (NYSE:CATO) last released its earnings results on Thursday, August 22nd. The specialty retailer reported $0.01 earnings per share for the quarter. The company had revenue of $168.63 million during the quarter. Cato had a negative return on equity of 9.19% and a negative net margin of 2.71%.

Cato Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 11.51%. The ex-dividend date of this dividend was Monday, September 16th. Cato’s dividend payout ratio is currently -76.40%.

Hedge Funds Weigh In On Cato

Institutional investors have recently bought and sold shares of the company. Point72 DIFC Ltd acquired a new position in shares of Cato during the second quarter worth about $36,000. BNP Paribas Financial Markets increased its stake in shares of Cato by 64.6% during the first quarter. BNP Paribas Financial Markets now owns 7,995 shares of the specialty retailer’s stock worth $46,000 after buying an additional 3,139 shares during the period. State Board of Administration of Florida Retirement System purchased a new stake in shares of Cato during the first quarter worth approximately $67,000. Assenagon Asset Management S.A. purchased a new stake in shares of Cato during the second quarter worth approximately $88,000. Finally, AQR Capital Management LLC purchased a new stake in shares of Cato during the second quarter worth approximately $102,000. 61.10% of the stock is owned by institutional investors and hedge funds.

About Cato

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.