Renaissance Technologies LLC Increases Holdings in The Cato Co. (NYSE:CATO)

Renaissance Technologies LLC grew its holdings in The Cato Co. (NYSE:CATO) by 1.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 580,202 shares of the specialty retailer’s stock after buying an additional 8,000 shares during the quarter. Renaissance Technologies LLC owned approximately 2.82% of Cato worth $3,214,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. BNP Paribas Financial Markets grew its holdings in Cato by 64.6% in the first quarter. BNP Paribas Financial Markets now owns 7,995 shares of the specialty retailer’s stock worth $46,000 after purchasing an additional 3,139 shares during the period. State Board of Administration of Florida Retirement System purchased a new stake in Cato during the 1st quarter valued at about $67,000. Assenagon Asset Management S.A. bought a new stake in Cato during the 2nd quarter valued at about $88,000. Empowered Funds LLC lifted 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 buying an additional 2,975 shares in the last quarter. Finally, Trexquant Investment LP grew its holdings in shares of Cato by 11.5% during the fourth quarter. Trexquant Investment LP now owns 62,732 shares of the specialty retailer’s stock valued at $448,000 after buying an additional 6,453 shares during the last quarter. 61.10% of the stock is owned by hedge funds and other institutional investors.

Cato Stock Up 12.1 %

CATO opened at $5.28 on Monday. The Cato Co. has a twelve month low of $4.27 and a twelve month high of $8.58. The firm has a 50 day moving average price of $4.84 and a 200-day moving average price of $5.23. The stock has a market capitalization of $108.53 million, a price-to-earnings ratio of -6.29 and a beta of 1.13.

Cato (NYSE:CATO) last issued its quarterly earnings data on Thursday, August 22nd. The specialty retailer reported $0.01 earnings per share for the quarter. The firm 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 declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 12.88%. The ex-dividend date is Monday, September 16th. Cato’s dividend payout ratio is presently -80.95%.

Analysts Set New Price Targets

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

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.