Marquette Asset Management LLC Lowers Position in The Cato Co. (NYSE:CATO)

Marquette Asset Management LLC lessened its stake in shares of The Cato Co. (NYSE:CATO) by 14.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 76,742 shares of the specialty retailer’s stock after selling 13,105 shares during the period. Marquette Asset Management LLC’s holdings in Cato were worth $383,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CATO. Empowered Funds LLC increased its stake in shares of Cato by 8.1% in the first quarter. Empowered Funds LLC now owns 39,666 shares of the specialty retailer’s stock worth $229,000 after purchasing an additional 2,975 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Cato by 64.6% in the 1st quarter. BNP Paribas Financial Markets now owns 7,995 shares of the specialty retailer’s stock worth $46,000 after buying an additional 3,139 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in Cato in the 2nd quarter worth $36,000. Vanguard Group Inc. raised its holdings in Cato by 0.8% during the first quarter. Vanguard Group Inc. now owns 931,094 shares of the specialty retailer’s stock valued at $5,372,000 after acquiring an additional 7,072 shares during the period. Finally, Renaissance Technologies LLC lifted its position in shares of Cato by 1.4% in the second quarter. Renaissance Technologies LLC now owns 580,202 shares of the specialty retailer’s stock valued at $3,214,000 after acquiring an additional 8,000 shares in the last quarter. Hedge funds and other institutional investors own 61.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Cato from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd.

Cato Price Performance

Cato stock opened at $5.58 on Wednesday. The Cato Co. has a 1 year low of $4.27 and a 1 year high of $7.80. The firm’s 50 day moving average price is $4.83 and its 200-day moving average price is $5.18. The stock has a market cap of $114.70 million, a P/E ratio of -6.64 and a beta of 1.13.

Cato (NYSE:CATO) last announced its quarterly earnings results on Thursday, August 22nd. The specialty retailer reported $0.01 earnings per share (EPS) for the quarter. The company had revenue of $168.63 million for the quarter. Cato had a negative net margin of 2.71% and a negative return on equity of 9.19%.

Cato Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $0.17 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 12.19%. Cato’s dividend payout ratio is currently -80.95%.

About Cato

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.