The stock of Cato Corp (NYSE:CATO) hit a new 52-week low and has $26.74 target or 9.00% below today’s $29.39 share price. The 7 months bearish chart indicates high risk for the $826.43 million company. The 1-year low was reported on Oct, 6 by Barchart.com. If the $26.74 price target is reached, the company will be worth $74.38M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 58,727 shares traded hands. Cato Corp (NYSE:CATO) has declined 9.33% since March 3, 2016 and is downtrending. It has underperformed by 17.67% the S&P500.
According to Zacks Investment Research, “The Cato Corporation operates as a specialty retailer of women’s fashions and accessories in the United States. Its apparel and accessories, includes dressy, career, and casual sportswear, dresses, coats, shoes, lingerie, costume jewelry and handbags. The Cato Corporation is based in Charlotte, North Carolina.”
Insitutional Activity: The institutional sentiment increased to 1.1 in 2016 Q2. Its up 0.24, from 0.86 in 2016Q1. The ratio improved, as 11 funds sold all Cato Corp shares owned while 49 reduced positions. 19 funds bought stakes while 47 increased positions. They now own 19.46 million shares or 10.98% less from 21.86 million shares in 2016Q1.
Lucus Advisors Limited Liability has 0.29% invested in the company for 9,221 shares. Landscape Capital Mgmt Ltd Liability holds 0.1% or 19,633 shares in its portfolio. Brown Advisory accumulated 0.08% or 640,870 shares. Moreover, Eagle Asset Incorporated has 0.04% invested in Cato Corp (NYSE:CATO) for 167,151 shares. Blackrock Lc has 12,252 shares for 0% of their US portfolio. Peak6 Ltd Partnership owns 3,225 shares or 0% of their US portfolio. Wells Fargo And Company Mn has 0% invested in the company for 113,375 shares. Trexquant Invest Limited Partnership, a Connecticut-based fund reported 8,157 shares. Alliancebernstein Ltd Partnership holds 0% of its portfolio in Cato Corp (NYSE:CATO) for 41,447 shares. Paradigm Asset Co Ltd Company accumulated 9,200 shares or 0% of the stock. Profund Advisors Lc last reported 8,294 shares in the company. Aperio Ltd Liability last reported 0% of its portfolio in the stock. Great West Life Assurance Company Can holds 3,688 shares or 0% of its portfolio. The North Carolina-based First Citizens Bancorp And Tru Company has invested 0.04% in Cato Corp (NYSE:CATO). Bragg Financial Advisors reported 65,497 shares or 0.45% of all its holdings.
More notable recent Cato Corp (NYSE:CATO) news were published by: Streetinsider.com which released: “Cato Corp. (CATO) September Comps Fell 9%; Cuts Q3 Outlook” on October 06, 2016, also Marketwatch.com with their article: “/quotes/zigman/3870025/realtime” published on December 22, 2009, Quotes.Wsj.com published: “DOW JONES, A NEWS CORP COMPANY” on February 11, 2011. More interesting news about Cato Corp (NYSE:CATO) were released by: Bizjournals.com and their article: “Cato CEO sees 57% jump in compensation” published on April 22, 2015 as well as Bizjournals.com‘s news article titled: “Lincoln Harris and Cato Corp. partnering on huge mixed-use project in Fort Mill” with publication date: November 06, 2015.
CATO Company Profile
The Cato Corporation, incorporated on March 28, 1946, is a fashion specialty retailer. The Company’s merchandise lines include dressy, career, and casual sportswear, dresses, coats, shoes, lingerie, costume jewelry, handbags, men’s wear and lines for kids and newborns. The Company’s stores offer an assortment of on-trend apparel and accessory items in primarily junior/missy, plus sizes, girls’ sizes 7 to 16, men’s and kids sizes with a focus on color, product coordination and selection. The Firm operates through two divisions: the operation of a fashion specialty stores segment (Retail Segment) and a credit card segment (Credit Segment). The Company’s apparel specialty stores operate under the names Cato, Cato Fashions, Cato Plus, It’s Fashion, It’s Fashion Metro and Versona, including e-commerce Websites. The Company’s stores are located primarily in strip shopping centers principally in the southeastern United States. The Firm operates its women’s fashion specialty retail stores in over 30 states. The Firm offers its own credit card to its clients and all credit authorizations, payment processing, and collection efforts are performed by a separate subsidiary of the Company.
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