LSV Asset Management continued to hold its stake in shares of Cato Corporation (The) (NYSE:CATO) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 67,700 shares of the specialty retailer’s stock at the close of the 2nd quarter. LSV Asset Management owned approximately 0.27% of Cato Corporation (The) worth $1,190,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CATO. Denver Investment Advisors LLC grew its stake in shares of Cato Corporation (The) by 50.3% in the 2nd quarter. Denver Investment Advisors LLC now owns 700,099 shares of the specialty retailer’s stock valued at $12,315,000 after buying an additional 234,436 shares in the last quarter. Marshall Wace North America L.P. bought a new stake in Cato Corporation (The) during the second quarter worth approximately $2,633,000. Russell Investments Group Ltd. boosted its position in Cato Corporation (The) by 45.8% during the second quarter. Russell Investments Group Ltd. now owns 38,779 shares of the specialty retailer’s stock worth $682,000 after purchasing an additional 12,179 shares during the period. Airain ltd boosted its position in Cato Corporation (The) by 15.3% during the second quarter. Airain ltd now owns 31,598 shares of the specialty retailer’s stock worth $556,000 after purchasing an additional 4,199 shares during the period. Finally, Municipal Employees Retirement System of Michigan boosted its position in Cato Corporation (The) by 21.5% during the second quarter. Municipal Employees Retirement System of Michigan now owns 10,010 shares of the specialty retailer’s stock worth $176,000 after purchasing an additional 1,770 shares during the period. 88.41% of the stock is owned by institutional investors and hedge funds.

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A number of brokerages have issued reports on CATO. TheStreet cut Cato Corporation (The) from a “c” rating to a “d+” rating in a research report on Thursday, August 17th. BidaskClub cut Cato Corporation (The) from a “sell” rating to a “strong sell” rating in a research report on Friday, August 11th. Finally, MKM Partners reaffirmed a “neutral” rating and set a $20.00 target price (down previously from $23.00) on shares of Cato Corporation (The) in a research report on Friday, June 9th.

Shares of Cato Corporation (NYSE:CATO) opened at 13.01 on Friday. The company has a market cap of $323.04 million, a PE ratio of 20.55 and a beta of 1.13. The firm’s 50-day moving average price is $14.26 and its 200-day moving average price is $18.61. Cato Corporation has a 12 month low of $12.20 and a 12 month high of $36.64.

Cato Corporation (The) (NYSE:CATO) last announced its earnings results on Thursday, August 17th. The specialty retailer reported ($0.03) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.14). The firm had revenue of $207.00 million during the quarter, compared to analyst estimates of $209.50 million. Cato Corporation (The) had a net margin of 1.92% and a return on equity of 4.37%. The firm’s quarterly revenue was down 13.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.57 EPS. Equities analysts predict that Cato Corporation will post $0.85 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 25th. Shareholders of record on Monday, September 11th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 10.15%. The ex-dividend date of this dividend is Friday, September 8th. Cato Corporation (The)’s dividend payout ratio (DPR) is 206.25%.

In related news, Director Daniel Harding Stowe purchased 7,000 shares of the stock in a transaction on Tuesday, August 22nd. The shares were purchased at an average price of $14.27 per share, with a total value of $99,890.00. Following the transaction, the director now directly owns 16,686 shares of the company’s stock, valued at $238,109.22. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 8.98% of the stock is owned by insiders.

Cato Corporation (The) Profile

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).

Institutional Ownership by Quarter for Cato Corporation (The) (NYSE:CATO)

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