Arizona State Retirement System decreased its stake in shares of Cato Corp (NYSE:CATO) by 8.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,578 shares of the specialty retailer’s stock after selling 3,142 shares during the period. Arizona State Retirement System owned approximately 0.13% of Cato worth $827,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. increased its position in shares of Cato by 2.4% during the first quarter. Principal Financial Group Inc. now owns 178,415 shares of the specialty retailer’s stock worth $2,630,000 after acquiring an additional 4,230 shares in the last quarter. Wells Fargo & Company MN grew its position in Cato by 9.4% in the first quarter. Wells Fargo & Company MN now owns 45,911 shares of the specialty retailer’s stock valued at $677,000 after purchasing an additional 3,960 shares in the last quarter. Piedmont Investment Advisors LLC bought a new position in Cato in the second quarter valued at $132,000. Schwab Charles Investment Management Inc. grew its position in Cato by 6.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 402,535 shares of the specialty retailer’s stock valued at $5,934,000 after purchasing an additional 24,387 shares in the last quarter. Finally, Mackay Shields LLC bought a new position in Cato in the first quarter valued at $445,000. 77.90% of the stock is owned by institutional investors.

A number of research analysts recently weighed in on the stock. MKM Partners set a $23.00 target price on shares of Cato and gave the company a “hold” rating in a research report on Wednesday, July 11th. ValuEngine raised shares of Cato from a “hold” rating to a “buy” rating in a research report on Thursday, June 7th.

Cato stock opened at $21.38 on Friday. The firm has a market capitalization of $533.16 million, a P/E ratio of 18.47 and a beta of 0.55. Cato Corp has a 1-year low of $10.76 and a 1-year high of $26.88.

Cato (NYSE:CATO) last released its earnings results on Thursday, August 23rd. The specialty retailer reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.04). The business had revenue of $208.92 million during the quarter. Cato had a net margin of 2.01% and a return on equity of 8.70%.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Monday, September 17th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 6.17%. The ex-dividend date of this dividend is Friday, September 14th.

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.

Recommended Story: Average Daily Trade Volume Explained

Institutional Ownership by Quarter for Cato (NYSE:CATO)

Receive News & Ratings for Cato Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cato and related companies with MarketBeat.com's FREE daily email newsletter.