The Cato Co. (NYSE:CATO) Shares Bought by Acuitas Investments LLC

Acuitas Investments LLC lifted its position in shares of The Cato Co. (NYSE:CATO) by 18.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 492,629 shares of the specialty retailer’s stock after buying an additional 78,041 shares during the quarter. Cato makes up 1.5% of Acuitas Investments LLC’s investment portfolio, making the stock its 20th largest position. Acuitas Investments LLC owned about 2.40% of Cato worth $2,729,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. BNP Paribas Financial Markets lifted its holdings in shares of Cato by 64.6% during the 1st quarter. BNP Paribas Financial Markets now owns 7,995 shares of the specialty retailer’s stock worth $46,000 after acquiring an additional 3,139 shares during the period. State Board of Administration of Florida Retirement System acquired a new stake in shares of Cato during the 1st quarter worth $67,000. Assenagon Asset Management S.A. acquired a new position in Cato in the second quarter valued at $88,000. Empowered Funds LLC boosted its holdings in Cato by 8.1% in the first quarter. Empowered Funds LLC now owns 39,666 shares of the specialty retailer’s stock valued at $229,000 after acquiring an additional 2,975 shares during the last quarter. Finally, Trexquant Investment LP grew its position in Cato by 11.5% during the fourth quarter. Trexquant Investment LP now owns 62,732 shares of the specialty retailer’s stock valued at $448,000 after acquiring an additional 6,453 shares during the period. 61.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com lowered Cato from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd.

Cato Price Performance

Shares of NYSE CATO opened at $4.79 on Friday. The company has a market capitalization of $98.36 million, a price-to-earnings ratio of -5.70 and a beta of 1.09. The Cato Co. has a 1-year low of $4.56 and a 1-year high of $8.58. The business has a 50-day moving average of $5.05 and a 200-day moving average of $5.47.

Cato Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 14.21%. The ex-dividend date is Monday, September 16th. Cato’s dividend payout ratio (DPR) is -80.95%.

Cato Company Profile

The Cato Corporation, together with its subsidiaries, operates as a specialty retailer of fashion apparel and accessories primarily in the southeastern United States. It operates through two segments, Retail and Credit. The company's stores and e-commerce websites offer a range of apparel and accessories, including dressy, career, and casual sportswear; and dresses, coats, shoes, lingerie, costume jewelry, and handbags, as well as men's wear, and lines for kids and infants.