Acadian Asset Management LLC Has $295,000 Stock Position in The Cato Co. (NYSE:CATO)

Acadian Asset Management LLC decreased its stake in shares of The Cato Co. (NYSE:CATO) by 48.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,845 shares of the specialty retailer’s stock after selling 34,511 shares during the period. Acadian Asset Management LLC owned 0.18% of Cato worth $295,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its position in Cato by 78.2% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,831 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 1,242 shares during the period. Teachers Retirement System of The State of Kentucky acquired a new position in Cato during the 3rd quarter valued at about $55,000. BNP Paribas Arbitrage SNC lifted its position in Cato by 64.8% during the 3rd quarter. BNP Paribas Arbitrage SNC now owns 8,901 shares of the specialty retailer’s stock valued at $85,000 after purchasing an additional 3,499 shares during the period. Barclays PLC lifted its position in Cato by 84.8% during the 1st quarter. Barclays PLC now owns 8,993 shares of the specialty retailer’s stock valued at $79,000 after purchasing an additional 4,126 shares during the period. Finally, MetLife Investment Management LLC acquired a new position in Cato during the 4th quarter valued at about $91,000. 48.61% of the stock is currently owned by institutional investors and hedge funds.

Cato Price Performance

Shares of CATO stock opened at $6.99 on Friday. The stock has a market cap of $143.92 million, a PE ratio of -99.86 and a beta of 1.06. The stock has a 50-day moving average of $7.34 and a 200-day moving average of $7.85. The Cato Co. has a one year low of $6.53 and a one year high of $10.78.

Cato (NYSE:CATO) last announced its quarterly earnings results on Thursday, November 16th. The specialty retailer reported ($0.30) EPS for the quarter. The company had revenue of $158.26 million during the quarter. Cato had a negative net margin of 0.26% and a negative return on equity of 0.83%.

Cato Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Monday, December 18th will be paid a $0.17 dividend. The ex-dividend date is Friday, December 15th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 9.73%. Cato’s dividend payout ratio (DPR) is presently -971.43%.

Analyst Upgrades and Downgrades

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

Cato 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.