Cato (NYSE:CATO) Posts Earnings Results

Cato (NYSE:CATO) issued its quarterly earnings results on Thursday. The specialty retailer reported $0.47 EPS for the quarter, Zacks reports. Cato had a negative return on equity of 3.57% and a negative net margin of 0.90%.

Cato Stock Down 0.8%

Shares of CATO opened at $3.06 on Thursday. Cato has a 52-week low of $2.41 and a 52-week high of $4.91. The firm’s fifty day moving average is $2.92 and its two-hundred day moving average is $3.16. The stock has a market cap of $60.48 million, a PE ratio of -9.88 and a beta of 0.55.

Hedge Funds Weigh In On Cato

A hedge fund recently raised its stake in Cato stock. Goldman Sachs Group Inc. increased its holdings in shares of Cato Corporation (The) (NYSE:CATO) by 76.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,437 shares of the specialty retailer’s stock after acquiring an additional 20,521 shares during the quarter. Goldman Sachs Group Inc. owned about 0.24% of Cato worth $158,000 at the end of the most recent reporting period. Institutional investors own 61.10% of the company’s stock.

About Cato

Cato Corporation is a specialty apparel retailer headquartered in Charlotte, North Carolina. Founded in 1946 by Carl and Bernice Cato, the company operates two banner store concepts—Cato and Versona—and maintains an e-commerce platform to extend its reach beyond brick-and-mortar locations. Cato’s retail mission centers on providing fashionable women’s clothing and accessories at moderate price points.

With over 1,200 stores across more than 30 U.S. states, primarily concentrated in the Southeastern and Mid-Atlantic regions, Cato serves a broad customer base seeking everyday and occasion-driven wardrobe solutions.