Marquette Asset Management LLC Sells 13,105 Shares of The Cato Co. (NYSE:CATO)

Marquette Asset Management LLC cut its holdings in shares of The Cato Co. (NYSE:CATO) by 14.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 76,742 shares of the specialty retailer’s stock after selling 13,105 shares during the quarter. Marquette Asset Management LLC owned 0.37% of Cato worth $383,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Point72 DIFC Ltd bought a new position in shares of Cato during the second quarter valued at about $36,000. BNP Paribas Financial Markets boosted its stake in shares of Cato by 64.6% during the 1st quarter. BNP Paribas Financial Markets now owns 7,995 shares of the specialty retailer’s stock valued at $46,000 after purchasing an additional 3,139 shares in the last quarter. State Board of Administration of Florida Retirement System purchased a new stake in Cato in the first quarter worth about $67,000. Assenagon Asset Management S.A. purchased a new stake in Cato in the second quarter worth about $88,000. Finally, AQR Capital Management LLC bought a new position in shares of Cato in the 2nd quarter worth approximately $102,000. Hedge funds and other institutional investors own 61.10% of the company’s stock.

Cato Trading Up 7.1 %

CATO stock opened at $5.58 on Wednesday. The stock’s 50 day simple moving average is $4.83 and its 200 day simple moving average is $5.18. The Cato Co. has a 12-month low of $4.27 and a 12-month high of $7.80. The stock has a market capitalization of $114.70 million, a PE ratio of -6.64 and a beta of 1.13.

Cato (NYSE:CATO) last posted its earnings results on Thursday, August 22nd. The specialty retailer reported $0.01 earnings per share (EPS) for the quarter. The business 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. Shareholders of record on Monday, September 16th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 12.19%. The ex-dividend date of this dividend was Monday, September 16th. Cato’s dividend payout ratio is -80.95%.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Cato from a “buy” rating to a “hold” rating in a research note 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.