Cubist Systematic Strategies LLC Makes New Investment in The Cato Co. (NYSE:CATO)

Cubist Systematic Strategies LLC purchased a new position in shares of The Cato Co. (NYSE:CATO) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 53,472 shares of the specialty retailer’s stock, valued at approximately $296,000. Cubist Systematic Strategies LLC owned approximately 0.26% of Cato as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Point72 DIFC Ltd bought a new position in shares of Cato during the 2nd quarter worth about $36,000. Renaissance Technologies LLC boosted its holdings in Cato by 1.4% in the second quarter. Renaissance Technologies LLC now owns 580,202 shares of the specialty retailer’s stock worth $3,214,000 after acquiring an additional 8,000 shares in the last quarter. Acuitas Investments LLC grew its stake in Cato by 18.8% in the second quarter. Acuitas Investments LLC now owns 492,629 shares of the specialty retailer’s stock valued at $2,729,000 after acquiring an additional 78,041 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Cato during the second quarter valued at approximately $88,000. Finally, Vanguard Group Inc. raised its position in shares of Cato by 0.8% during the first quarter. Vanguard Group Inc. now owns 931,094 shares of the specialty retailer’s stock worth $5,372,000 after purchasing an additional 7,072 shares during the period. Institutional investors and hedge funds own 61.10% of the company’s stock.

Cato Price Performance

NYSE:CATO opened at $4.97 on Friday. The Cato Co. has a one year low of $4.27 and a one year high of $7.80. The company has a market cap of $102.16 million, a PE ratio of -5.92 and a beta of 1.13. The firm has a 50-day moving average of $4.82 and a 200-day moving average of $5.19.

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

Cato Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 13.68%. The ex-dividend date was Monday, September 16th. Cato’s dividend payout ratio (DPR) is presently -80.95%.

Analysts Set New Price Targets

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

Cato Company 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.