Rhumbline Advisers Has $724,000 Holdings in Cato Corp (CATO)
Rhumbline Advisers lessened its stake in Cato Corp (NYSE:CATO) by 25.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 54,745 shares of the specialty retailer’s stock after selling 18,200 shares during the period. Rhumbline Advisers owned 0.22% of Cato worth $724,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. State Street Corp grew its stake in 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 during the last quarter. Ameriprise Financial Inc. grew its stake in Cato by 17.8% in the second quarter. Ameriprise Financial Inc. now owns 271,666 shares of the specialty retailer’s stock valued at $4,779,000 after purchasing an additional 41,038 shares during the last quarter. Marshall Wace North America L.P. purchased a new position in Cato in the second quarter valued at about $2,633,000. TIAA CREF Investment Management LLC grew its stake in Cato by 35.6% in the second quarter. TIAA CREF Investment Management LLC now owns 132,673 shares of the specialty retailer’s stock valued at $2,334,000 after purchasing an additional 34,838 shares during the last quarter. Finally, Parametric Portfolio Associates LLC grew its stake in 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 during the last quarter. Institutional investors own 87.59% of the company’s stock.
A number of equities research analysts have recently weighed in on the company. TheStreet upgraded Cato from a “d+” rating to a “c-” rating in a research note on Wednesday, December 6th. BidaskClub upgraded Cato from a “strong sell” rating to a “sell” rating in a research note on Saturday, November 11th.
Shares of Cato Corp (NYSE CATO) opened at $15.30 on Friday. Cato Corp has a 52 week low of $12.20 and a 52 week high of $31.35. The firm has a market capitalization of $359.85, a PE ratio of 34.36 and a beta of 1.21.
Cato (NYSE:CATO) last issued its quarterly earnings results on Thursday, November 16th. The specialty retailer reported $0.11 earnings per share for the quarter, topping the Zacks’ 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 business had revenue of $190.30 million for the quarter, compared to analyst estimates of $188.00 million. During the same quarter in the previous year, the firm earned $0.30 earnings per share. The company’s revenue was down 9.1% on a year-over-year basis.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Monday, December 11th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, December 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 8.63%. Cato’s payout ratio is 293.33%.
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Cato Company 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).
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