Cato (NYSE:CATO) Issues Earnings Results

Cato (NYSE:CATO) announced 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 Trading Down 0.8%

Shares of Cato stock opened at $3.06 on Thursday. The stock has a 50 day moving average of $2.92 and a 200 day moving average of $3.16. Cato has a 12 month low of $2.41 and a 12 month high of $4.91. The firm 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. boosted its position in shares of Cato Corporation (The) (NYSE:CATO) by 76.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,437 shares of the specialty retailer’s stock after buying an additional 20,521 shares during the period. Goldman Sachs Group Inc. owned approximately 0.24% of Cato worth $158,000 as of its most recent SEC filing. 61.10% of the stock is owned by institutional investors.

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.