Ameriprise Financial Inc. reduced its position in Cato Corp (NYSE:CATO) by 32.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 184,427 shares of the specialty retailer’s stock after selling 87,239 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.72% of Cato worth $2,441,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in the business. Aperio Group LLC purchased a new stake in Cato in the third quarter worth $450,000. State Street Corp grew its position in shares of Cato by 11.3% in the second quarter. State Street Corp now owns 880,952 shares of the specialty retailer’s stock valued at $15,494,000 after purchasing an additional 89,475 shares in the last quarter. Tudor Investment Corp ET AL purchased a new position in shares of Cato in the second quarter valued at $339,000. Parametric Portfolio Associates LLC grew its position in shares of Cato by 13.7% in the second quarter. Parametric Portfolio Associates LLC now owns 78,168 shares of the specialty retailer’s stock valued at $1,375,000 after purchasing an additional 9,434 shares in the last quarter. Finally, Pinebridge Investments L.P. grew its position in shares of Cato by 15.5% in the second quarter. Pinebridge Investments L.P. now owns 41,454 shares of the specialty retailer’s stock valued at $729,000 after purchasing an additional 5,553 shares in the last quarter. 87.45% of the stock is owned by institutional investors and hedge funds.
Cato Corp (CATO) opened at $13.11 on Friday. The firm has a market capitalization of $355.43, a price-to-earnings ratio of 29.13 and a beta of 1.21. Cato Corp has a 52-week low of $12.20 and a 52-week high of $27.78.
Cato (NYSE:CATO) last announced its quarterly earnings results on Thursday, November 16th. The specialty retailer reported $0.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.03. Cato had a return on equity of 3.04% and a net margin of 1.31%. The company had revenue of $190.30 million during the quarter, compared to analysts’ expectations of $188.00 million. During the same period in the previous year, the business earned $0.30 earnings per share. The firm’s quarterly revenue was down 9.1% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Monday, December 11th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 10.07%. The ex-dividend date was Friday, December 8th. Cato’s payout ratio is 293.33%.
CATO has been the subject of several recent research reports. TheStreet upgraded Cato from a “d+” rating to a “c-” rating in a research report on Wednesday, December 6th. BidaskClub upgraded Cato from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 27th.
The Cato Corporation 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 has two segments: the operation of a fashion specialty stores segment (Retail Segment) and a credit card segment (Credit Segment).
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