Cato (NYSE:CATO) Releases Quarterly Earnings Results

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

Cato Price Performance

NYSE CATO opened at $3.43 on Friday. The business’s fifty day moving average price is $2.93 and its 200-day moving average price is $3.15. The stock has a market capitalization of $67.61 million, a price-to-earnings ratio of -11.05 and a beta of 0.55. Cato has a 1-year low of $2.41 and a 1-year high of $4.91.

Hedge Funds Weigh In On Cato

A hedge fund recently raised its stake in Cato stock. Goldman Sachs Group Inc. increased its stake in Cato Corporation (The) (NYSE:CATO) by 76.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 47,437 shares of the specialty retailer’s stock after purchasing an additional 20,521 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.24% of Cato worth $158,000 at the end of the most recent quarter. Institutional investors and hedge funds 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.