Martingale Asset Management L P purchased a new position in shares of Cato Corp (NYSE:CATO) during the first quarter, HoldingsChannel reports. The fund purchased 127,011 shares of the specialty retailer’s stock, valued at approximately $1,904,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CATO. Bank of New York Mellon Corp boosted its holdings in shares of Cato by 2.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 634,910 shares of the specialty retailer’s stock valued at $13,346,000 after acquiring an additional 17,792 shares in the last quarter. Morgan Stanley raised its position in Cato by 328.8% during the 3rd quarter. Morgan Stanley now owns 254,142 shares of the specialty retailer’s stock worth $5,342,000 after purchasing an additional 194,875 shares during the last quarter. Vanguard Group Inc. raised its position in Cato by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,820,845 shares of the specialty retailer’s stock worth $38,273,000 after purchasing an additional 61,154 shares during the last quarter. Teachers Advisors LLC raised its position in Cato by 6.7% during the 3rd quarter. Teachers Advisors LLC now owns 45,977 shares of the specialty retailer’s stock worth $966,000 after purchasing an additional 2,893 shares during the last quarter. Finally, Bank of Montreal Can raised its position in Cato by 63.3% during the 4th quarter. Bank of Montreal Can now owns 4,973 shares of the specialty retailer’s stock worth $72,000 after purchasing an additional 1,928 shares during the last quarter. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Separately, ValuEngine lowered Cato from a “hold” rating to a “sell” rating in a research report on Friday, May 24th.

Shares of NYSE:CATO opened at $12.39 on Friday. The firm has a market cap of $337.53 million, a P/E ratio of 11.83 and a beta of 0.41. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.95 and a quick ratio of 2.04. Cato Corp has a 12-month low of $12.32 and a 12-month high of $26.88.

Cato (NYSE:CATO) last announced its earnings results on Thursday, May 23rd. The specialty retailer reported $0.87 earnings per share (EPS) for the quarter. The business had revenue of $230.35 million during the quarter. Cato had a return on equity of 8.69% and a net margin of 3.44%.

The business also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Monday, June 10th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 10.65%. The ex-dividend date is Friday, June 7th.

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Cato 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.

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Institutional Ownership by Quarter for Cato (NYSE:CATO)

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