Unison Advisors LLC Takes $181,000 Position in Cato Corp (CATO)
Unison Advisors LLC purchased a new stake in Cato Corp (NYSE:CATO) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 11,162 shares of the specialty retailer’s stock, valued at approximately $181,000.
A number of other institutional investors also recently added to or reduced their stakes in CATO. State Street Corp raised its holdings in Cato by 11.3% in the 2nd quarter. State Street Corp now owns 880,952 shares of the specialty retailer’s stock valued at $15,494,000 after acquiring an additional 89,475 shares during the period. Ameriprise Financial Inc. raised its holdings in Cato by 17.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 271,666 shares of the specialty retailer’s stock valued at $4,779,000 after acquiring an additional 41,038 shares during the period. TIAA CREF Investment Management LLC raised its holdings in Cato by 35.6% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 132,673 shares of the specialty retailer’s stock valued at $2,334,000 after acquiring an additional 34,838 shares during the period. Aperio Group LLC bought a new position in Cato in the 3rd quarter valued at about $450,000. Finally, Schwab Charles Investment Management Inc. grew its position in shares of Cato by 8.4% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 378,148 shares of the specialty retailer’s stock worth $6,021,000 after purchasing an additional 29,221 shares in the last quarter. 87.51% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have issued reports on CATO shares. TheStreet upgraded shares of Cato from a “d+” rating to a “c-” rating in a research report on Wednesday, December 6th. BidaskClub lowered shares of Cato from a “sell” rating to a “strong sell” rating in a research report on Thursday, October 5th.
Cato (NYSE:CATO) last announced its earnings results on Thursday, November 16th. The specialty retailer reported $0.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.03. Cato had a net margin of 1.31% and a return on equity of 3.04%. The firm had revenue of $190.30 million for the quarter, compared to analyst estimates of $188.00 million. During the same quarter in the prior year, the business posted $0.30 EPS. The business’s 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. Shareholders of record on Monday, December 11th were given a dividend of $0.33 per share. The ex-dividend date was Friday, December 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 10.34%. Cato’s payout ratio is presently 293.33%.
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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