AQR Capital Management LLC Invests $102,000 in The Cato Co. (NYSE:CATO)

AQR Capital Management LLC bought a new position in shares of The Cato Co. (NYSE:CATO) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 18,475 shares of the specialty retailer’s stock, valued at approximately $102,000. AQR Capital Management LLC owned 0.09% of Cato as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in CATO. Point72 DIFC Ltd acquired a new stake in Cato in the second quarter valued at about $36,000. BNP Paribas Financial Markets lifted its position in Cato by 64.6% in the first 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 during the period. State Board of Administration of Florida Retirement System acquired a new stake in Cato in the first quarter valued at about $67,000. Assenagon Asset Management S.A. acquired a new stake in Cato in the second quarter valued at about $88,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Cato in the second quarter valued at about $144,000. Institutional investors and hedge funds own 61.10% of the company’s stock.

Analyst Ratings Changes

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

Cato Price Performance

Shares of CATO opened at $5.76 on Friday. The firm has a 50 day simple moving average of $4.91 and a 200-day simple moving average of $5.18. The Cato Co. has a 1-year low of $4.27 and a 1-year high of $7.80. The stock has a market cap of $118.40 million, a price-to-earnings ratio of -6.86 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. Cato had a negative net margin of 2.71% and a negative return on equity of 9.19%. The business had revenue of $168.63 million during the quarter.

Cato Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 11.81%. Cato’s dividend payout ratio (DPR) is -80.95%.

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.