Bridgeway Capital Management Inc. Acquires New Holdings in Cato Corp (CATO)
Bridgeway Capital Management Inc. acquired a new stake in Cato Corp (NYSE:CATO) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 50,000 shares of the specialty retailer’s stock, valued at approximately $1,051,000. Bridgeway Capital Management Inc. owned 0.20% of Cato at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in CATO. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Cato by 91.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 34,989 shares of the specialty retailer’s stock valued at $735,000 after buying an additional 16,739 shares during the period. Dimensional Fund Advisors LP increased its holdings in Cato by 0.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,965,108 shares of the specialty retailer’s stock valued at $41,307,000 after buying an additional 10,963 shares during the period. BBT Capital Management LLC bought a new position in Cato in the 3rd quarter valued at about $882,000. Bank of New York Mellon Corp increased its holdings in Cato by 2.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 634,910 shares of the specialty retailer’s stock valued at $13,346,000 after buying an additional 17,792 shares during the period. Finally, Systematic Financial Management LP increased its holdings in Cato by 20.4% in the 3rd quarter. Systematic Financial Management LP now owns 61,530 shares of the specialty retailer’s stock valued at $1,293,000 after buying an additional 10,420 shares during the period. Institutional investors and hedge funds own 80.85% of the company’s stock.
Separately, ValuEngine raised shares of Cato from a “hold” rating to a “buy” rating in a report on Wednesday, October 31st.
Cato (NYSE:CATO) last announced its quarterly earnings results on Tuesday, November 20th. The specialty retailer reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.09. The company had revenue of $190.01 million for the quarter. Cato had a net margin of 2.14% and a return on equity of 9.20%.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Monday, December 10th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 8.82%. The ex-dividend date is Friday, December 7th.
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Cato Company 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.
Further Reading: What are Institutional Investors?
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