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

Shares of The Cato Co. (NYSE:CATO) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $5.21 and traded as high as $6.35. Cato shares last traded at $6.22, with a volume of 310,503 shares changing hands.

Analyst Upgrades and Downgrades

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

Cato Trading Down 5.3 %

The firm has a market cap of $127.85 million, a P/E ratio of -7.86 and a beta of 1.13. The company’s fifty day moving average price is $5.08 and its two-hundred day moving average price is $5.22.

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

Cato Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.17 dividend. The ex-dividend date was Monday, September 16th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 10.93%. Cato’s dividend payout ratio (DPR) is presently -80.95%.

Hedge Funds Weigh In On Cato

A number of large investors have recently modified their holdings of the stock. Point72 DIFC Ltd bought a new position in Cato in the second quarter valued at about $36,000. BNP Paribas Financial Markets grew its position in shares of Cato by 64.6% during the 1st 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 bought a new stake in shares of Cato during the first quarter worth approximately $67,000. Assenagon Asset Management S.A. acquired a new position in Cato in the second quarter valued at approximately $88,000. Finally, AQR Capital Management LLC bought a new position in Cato in the second quarter valued at approximately $102,000. 61.10% of the stock is currently 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.