Short Interest in The Cato Co. (NYSE:CATO) Declines By 19.1%

The Cato Co. (NYSE:CATO) was the target of a large decline in short interest in June. As of June 15th, there was short interest totalling 1,100,000 shares, a decline of 19.1% from the May 31st total of 1,360,000 shares. Approximately 6.6% of the shares of the stock are short sold. Based on an average trading volume of 131,400 shares, the short-interest ratio is currently 8.4 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Gladius Capital Management LP boosted its holdings in Cato by 129.5% during the third quarter. Gladius Capital Management LP now owns 4,197 shares of the specialty retailer’s stock worth $32,000 after purchasing an additional 2,368 shares during the last quarter. Barclays PLC boosted its holdings in Cato by 46.0% during the third quarter. Barclays PLC now owns 5,801 shares of the specialty retailer’s stock worth $45,000 after purchasing an additional 1,827 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in 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 purchasing an additional 3,139 shares during the last quarter. State Board of Administration of Florida Retirement System acquired a new stake in Cato in the first quarter valued at $67,000. Finally, Empowered Funds LLC lifted its stake in Cato by 8.1% in the first quarter. Empowered Funds LLC now owns 39,666 shares of the specialty retailer’s stock valued at $229,000 after acquiring an additional 2,975 shares during the last quarter. Institutional investors and hedge funds own 61.10% of the company’s stock.

Cato Trading Down 0.2 %

Shares of NYSE CATO traded down $0.01 during trading on Tuesday, reaching $5.24. The company had a trading volume of 32,793 shares, compared to its average volume of 132,963. The business’s 50 day moving average price is $5.48 and its 200-day moving average price is $6.11. Cato has a 52 week low of $4.56 and a 52 week high of $8.78.

Cato (NYSE:CATO) last posted its quarterly earnings results on Thursday, May 23rd. The specialty retailer reported $0.54 earnings per share for the quarter. Cato had a negative net margin of 2.51% and a negative return on equity of 8.36%. The business had revenue of $177.10 million during the quarter.

Cato Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Monday, June 10th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 12.98%. The ex-dividend date of this dividend was Monday, June 10th. Cato’s dividend payout ratio (DPR) is presently -80.95%.

Wall Street Analyst Weigh In

CATO has been the topic of a number of recent analyst reports. TheStreet lowered shares of Cato from a “c-” rating to a “d+” rating in a research report on Monday, March 18th. StockNews.com downgraded shares of Cato from a “buy” rating to a “hold” rating in a research note on Tuesday, June 25th.

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.