Bank of New York Mellon Corp Has $592,000 Holdings in The Cato Co. (NYSE:CATO)

Bank of New York Mellon Corp decreased its holdings in shares of The Cato Co. (NYSE:CATO) by 47.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 106,863 shares of the specialty retailer’s stock after selling 96,875 shares during the quarter. Bank of New York Mellon Corp owned 0.52% of Cato worth $592,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of CATO. BNP Paribas Financial Markets raised its holdings in shares of Cato by 64.6% during the first quarter. BNP Paribas Financial Markets now owns 7,995 shares of the specialty retailer’s stock worth $46,000 after acquiring an additional 3,139 shares in the last quarter. State Board of Administration of Florida Retirement System acquired a new position in Cato in the first quarter worth approximately $67,000. Assenagon Asset Management S.A. bought a new position in Cato during the second quarter valued at approximately $88,000. Empowered Funds LLC raised its position in Cato by 8.1% during the first quarter. Empowered Funds LLC now owns 39,666 shares of the specialty retailer’s stock valued at $229,000 after acquiring an additional 2,975 shares in the last quarter. Finally, Trexquant Investment LP lifted its stake in Cato by 11.5% in the fourth quarter. Trexquant Investment LP now owns 62,732 shares of the specialty retailer’s stock valued at $448,000 after acquiring an additional 6,453 shares during the last quarter. 61.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Cato Price Performance

Shares of Cato stock opened at $4.60 on Tuesday. The company’s fifty day moving average price is $4.88 and its two-hundred day moving average price is $5.28. The firm has a market capitalization of $94.55 million, a PE ratio of -5.48 and a beta of 1.13. The Cato Co. has a 52-week low of $4.27 and a 52-week high of $8.58.

Cato (NYSE:CATO) last released its quarterly earnings results on Thursday, August 22nd. The specialty retailer reported $0.01 EPS 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 14.78%. The ex-dividend date of this dividend is Monday, September 16th. Cato’s payout ratio is presently -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.