Schwab Charles Investment Management Inc. raised its position in shares of Cato Corp (NYSE:CATO) by 8.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 378,148 shares of the specialty retailer’s stock after buying an additional 29,221 shares during the period. Schwab Charles Investment Management Inc. owned about 1.62% of Cato worth $6,021,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System purchased a new position in shares of Cato during the fourth quarter worth $159,000. Nisa Investment Advisors LLC boosted its position in shares of Cato by 50.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 15,000 shares of the specialty retailer’s stock worth $239,000 after buying an additional 5,000 shares during the period. Aperio Group LLC purchased a new position in shares of Cato during the third quarter worth $450,000. State Street Corp boosted its position in shares of Cato by 11.3% during the second quarter. State Street Corp now owns 880,952 shares of the specialty retailer’s stock worth $15,494,000 after buying an additional 89,475 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its position in shares of Cato by 13.7% during the second quarter. Parametric Portfolio Associates LLC now owns 78,168 shares of the specialty retailer’s stock worth $1,375,000 after buying an additional 9,434 shares during the period. Institutional investors and hedge funds own 84.12% of the company’s stock.
Separately, TheStreet upgraded Cato from a “d+” rating to a “c-” rating in a research report on Wednesday, December 6th.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 28th. Stockholders of record on Monday, March 12th will be given a dividend of $0.33 per share. This is a positive change from Cato’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 10.95%. The ex-dividend date of this dividend is Friday, March 9th. Cato’s dividend payout ratio (DPR) is currently 293.33%.
Cato Company Profile
The Cato Corporation is a fashion specialty retailer. The Company’s merchandise lines include dressy, career, and casual sportswear, dresses, coats, shoes, lingerie, costume jewelry, handbags, men’s wear and lines for kids and newborns. The Company has two segments: the operation of a fashion specialty stores segment (Retail Segment) and a credit card segment (Credit Segment).
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