Piedmont Investment Advisors LLC Purchases Shares of 5,360 Cato Corp (CATO)

Piedmont Investment Advisors LLC purchased a new position in shares of Cato Corp (NYSE:CATO) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 5,360 shares of the specialty retailer’s stock, valued at approximately $132,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Acadian Asset Management LLC raised its position in Cato by 593.9% during the 2nd quarter. Acadian Asset Management LLC now owns 237,117 shares of the specialty retailer’s stock worth $5,837,000 after buying an additional 202,945 shares during the last quarter. Marquette Asset Management LLC purchased a new position in Cato during the 2nd quarter worth $458,000. Municipal Employees Retirement System of Michigan raised its position in Cato by 33.3% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 12,010 shares of the specialty retailer’s stock worth $296,000 after buying an additional 3,000 shares during the last quarter. Principal Financial Group Inc. raised its position in Cato by 2.4% during the 1st quarter. Principal Financial Group Inc. now owns 178,415 shares of the specialty retailer’s stock worth $2,630,000 after buying an additional 4,230 shares during the last quarter. Finally, Segall Bryant & Hamill LLC raised its position in Cato by 13.5% during the 1st quarter. Segall Bryant & Hamill LLC now owns 133,486 shares of the specialty retailer’s stock worth $1,968,000 after buying an additional 15,905 shares during the last quarter. Hedge funds and other institutional investors own 75.91% of the company’s stock.

Shares of CATO opened at $24.37 on Tuesday. The stock has a market capitalization of $616.17 million, a PE ratio of 27.89 and a beta of 0.71. Cato Corp has a 52-week low of $10.76 and a 52-week high of $26.88.

Cato (NYSE:CATO) last announced its quarterly earnings results on Thursday, May 24th. The specialty retailer reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.07. The business had revenue of $238.30 million during the quarter. Cato had a net margin of 1.15% and a return on equity of 6.37%.

A number of equities analysts have commented on the stock. MKM Partners set a $23.00 price objective on shares of Cato and gave the stock a “hold” rating in a research report on Wednesday, July 11th. ValuEngine upgraded shares of Cato from a “hold” rating to a “buy” rating in a report on Thursday, June 7th.

About Cato

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: Outstanding Shares, Buying and Selling Stocks

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Institutional Ownership by Quarter for Cato (NYSE:CATO)

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