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

Acuitas Investments LLC lifted its holdings in shares of The Cato Co. (NYSE:CATO) by 18.8% during the second quarter, Holdings Channel reports. The fund owned 492,629 shares of the specialty retailer’s stock after purchasing an additional 78,041 shares during the quarter. Cato accounts for 1.5% of Acuitas Investments LLC’s investment portfolio, making the stock its 20th largest holding. Acuitas Investments LLC’s holdings in Cato were worth $2,729,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of CATO. Empowered Funds LLC boosted its stake in Cato by 8.1% during the 1st 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. BNP Paribas Financial Markets raised its stake in shares of Cato by 64.6% in the 1st quarter. BNP Paribas Financial Markets now owns 7,995 shares of the specialty retailer’s stock valued at $46,000 after purchasing an additional 3,139 shares in the last quarter. Trexquant Investment LP lifted its position in shares of Cato by 11.5% during the fourth quarter. Trexquant Investment LP now owns 62,732 shares of the specialty retailer’s stock worth $448,000 after purchasing an additional 6,453 shares during the last quarter. Vanguard Group Inc. grew its stake in Cato by 0.8% in the first quarter. Vanguard Group Inc. now owns 931,094 shares of the specialty retailer’s stock worth $5,372,000 after purchasing an additional 7,072 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System bought a new stake in Cato in the first quarter valued at about $67,000. Institutional investors and hedge funds own 61.10% of the company’s stock.

Cato Price Performance

CATO stock opened at $4.79 on Friday. The firm has a market cap 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 firm has a fifty day moving average price of $5.05 and a two-hundred day moving average price of $5.47.

Cato Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 14.21%. The ex-dividend date is Monday, September 16th. Cato’s dividend payout ratio is presently -80.95%.

Wall Street Analyst Weigh In

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

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.