Schwab Charles Investment Management Inc. Has $11.64 Million Stake in Cato Corp (NYSE:CATO)

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Schwab Charles Investment Management Inc. increased its holdings in shares of Cato Corp (NYSE:CATO) by 17.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 472,599 shares of the specialty retailer’s stock after buying an additional 70,064 shares during the quarter. Schwab Charles Investment Management Inc. owned 1.88% of Cato worth $11,636,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of CATO. Advisors Preferred LLC grew its stake in Cato by 511.1% in the second quarter. Advisors Preferred LLC now owns 4,956 shares of the specialty retailer’s stock valued at $122,000 after purchasing an additional 4,145 shares in the last quarter. SG Americas Securities LLC purchased a new position in Cato in the second quarter valued at about $123,000. Piedmont Investment Advisors LLC purchased a new position in Cato in the second quarter valued at about $132,000. Brookstone Capital Management purchased a new position in Cato in the second quarter valued at about $228,000. Finally, Municipal Employees Retirement System of Michigan grew its stake in Cato by 33.3% in the second quarter. Municipal Employees Retirement System of Michigan now owns 12,010 shares of the specialty retailer’s stock valued at $296,000 after purchasing an additional 3,000 shares in the last quarter. Institutional investors and hedge funds own 79.25% of the company’s stock.

Shares of NYSE:CATO traded down $0.28 on Friday, reaching $18.95. The company had a trading volume of 289,834 shares, compared to its average volume of 330,976. Cato Corp has a twelve month low of $10.76 and a twelve month high of $26.88. The stock has a market capitalization of $518.60 million, a P/E ratio of 17.97 and a beta of 0.51.

Cato (NYSE:CATO) last posted its quarterly earnings data on Thursday, August 23rd. The specialty retailer reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.04). Cato had a return on equity of 8.70% and a net margin of 2.01%. The business had revenue of $208.92 million for the quarter.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Investors of record on Monday, September 17th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, September 14th. This represents a $1.32 annualized dividend and a dividend yield of 6.97%.

CATO has been the subject of a number of analyst reports. ValuEngine cut Cato from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. MKM Partners set a $23.00 price target on Cato and gave the stock a “hold” rating in a research report on Wednesday, July 11th.

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.

Featured Story: Compound Annual Growth Rate (CAGR)

Institutional Ownership by Quarter for Cato (NYSE:CATO)

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