Cato (CATO) Declares $0.17 Dividend
Cato said on February 24, 2023 that its board of directors declared a regular quarterly dividend of $0.17 per share ($0.68 annualized). Shareholders of record as of March 21, 2023 will receive the payment on April 3, 2023. Previously, the company paid $0.17 per share.
At the current share price of $9.34 / share, the stock's dividend yield is 7.28%. Looking back five years and taking a sample every week, the average dividend yield has been 7.20%, the lowest has been 2.51%, and the highest has been 13.27%. The standard deviation of yields is 2.31 (n=176).
The current dividend yield is 0.03 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is -3.91. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is -0.48%.
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What is the Fund Sentiment?
There are 283 funds or institutions reporting positions in Cato. This is a decrease of 18 owner(s) or 5.98% in the last quarter. Average portfolio weight of all funds dedicated to CATO is 0.04%, an increase of 15.37%. Total shares owned by institutions decreased in the last three months by 7.10% to 12,124K shares. The put/call ratio of CATO is 1.20, indicating a bearish outlook.
What are large shareholders doing?
IJR - iShares Core S&P Small-Cap ETF holds 1,193K shares representing 6.02% ownership of the company. In it's prior filing, the firm reported owning 1,223K shares, representing a decrease of 2.51%. The firm decreased its portfolio allocation in CATO by 18.64% over the last quarter.
Renaissance Technologies holds 637K shares representing 3.21% ownership of the company. In it's prior filing, the firm reported owning 597K shares, representing an increase of 6.18%. The firm increased its portfolio allocation in CATO by 0.82% over the last quarter.
XSVM - Invesco S&P SmallCap Value with Momentum ETF holds 636K shares representing 3.21% ownership of the company. In it's prior filing, the firm reported owning 604K shares, representing an increase of 4.97%. The firm increased its portfolio allocation in CATO by 0.76% over the last quarter.
Aldebaran Capital holds 566K shares representing 2.85% ownership of the company.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 537K shares representing 2.71% ownership of the company. In it's prior filing, the firm reported owning 537K shares, representing an increase of 0.08%. The firm decreased its portfolio allocation in CATO by 14.28% over the last quarter.
Cato Background Information
(This description is provided by the company.)
The Company, founded in 1946, operates approximately 1,300 apparel and accessories specialty stores in 31 states under the names "Cato", “Versona”, “it’s Fashion” and "It's Fashion Metro". Cato offers the latest fashion styles for any occasion – work or play, dressy or casual in junior/misses and plus sizes, jewelry, shoes and accessories at low prices every day. A substantial portion of Cato’s merchandise is sold under its private labels and is produced by various vendors in accordance with the Company's specifications. Versona is a unique fashion destination for women's jewelry, handbags, apparel and shoes and reflects a commitment to high quality fashions at exceptional prices, every day. It’s Fashion offers the trendy looks you’ll find in mall specialty stores and It’s Fashion Metro offers urban-inspired, nationally recognized brands and the latest fashions for juniors, junior plus sizes, men and big men's, boys and girls, infants and toddlers, newborn and layette and jewelry, shoes and accessories as well, all at low prices every day. Stores primarily range in size from 3,000 to 8,000 square feet with the Cato and It’s Fashion concepts primarily in strip shopping centers while Versona stores are located in premier lifestyle centers and power centers. The Company emphasizes customer service and coordinated merchandise presentations in an appealing store environment. The Company offers its own credit card and layaway plan.
This story originally appeared on Fintel.