Point72 Asia Singapore Pte. Ltd. Buys New Position in The Cato Co. (NYSE:CATO)

Point72 Asia Singapore Pte. Ltd. purchased a new stake in The Cato Co. (NYSE:CATO) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 26,052 shares of the specialty retailer’s stock, valued at approximately $144,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Cato by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 931,094 shares of the specialty retailer’s stock worth $5,372,000 after acquiring an additional 7,072 shares in the last quarter. Empowered Funds LLC grew its position in Cato by 8.1% in the 1st 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. State Board of Administration of Florida Retirement System purchased a new stake in Cato in the 1st quarter valued at about $67,000. BNP Paribas Financial Markets boosted its stake in shares of 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 during the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of Cato in the second quarter valued at approximately $88,000. 61.10% of the stock is owned by hedge funds and other institutional investors.

Cato Stock Performance

CATO opened at $5.28 on Friday. The Cato Co. has a fifty-two week low of $4.27 and a fifty-two week high of $8.58. The firm has a 50-day moving average of $4.84 and a 200 day moving average of $5.25. The firm has a market cap of $108.53 million, a P/E ratio of -6.29 and a beta of 1.13.

Cato (NYSE:CATO) last issued 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 during 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 will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $0.17 dividend. The ex-dividend date is Monday, September 16th. This represents a $0.68 annualized dividend and a dividend yield of 12.88%. Cato’s payout ratio is presently -80.95%.

Wall Street Analyst Weigh In

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

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.