Bank of America Corp DE Has $1.20 Million Stake in Cato Corp (CATO)
Bank of America Corp DE cut its stake in shares of Cato Corp (NYSE:CATO) by 79.5% in the 2nd quarter, HoldingsChannel reports. The fund owned 48,584 shares of the specialty retailer’s stock after selling 187,862 shares during the period. Bank of America Corp DE’s holdings in Cato were worth $1,197,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Dynamic Technology Lab Private Ltd purchased a new position in Cato in the 2nd quarter worth approximately $452,000. BlueMountain Capital Management LLC lifted its holdings in Cato by 287.8% in the 2nd quarter. BlueMountain Capital Management LLC now owns 39,298 shares of the specialty retailer’s stock worth $968,000 after purchasing an additional 29,165 shares in the last quarter. Pinebridge Investments L.P. purchased a new position in Cato in the 2nd quarter worth approximately $1,011,000. OMERS ADMINISTRATION Corp purchased a new position in Cato in the 2nd quarter worth approximately $204,000. Finally, Spark Investment Management LLC purchased a new position in Cato in the 2nd quarter worth approximately $3,040,000. Hedge funds and other institutional investors own 80.17% of the company’s stock.
NYSE:CATO opened at $17.62 on Friday. Cato Corp has a 1 year low of $10.76 and a 1 year high of $26.88. The company has a market capitalization of $452.73 million, a price-to-earnings ratio of 15.68 and a beta of 0.55.
Separately, ValuEngine raised Cato from a “hold” rating to a “buy” rating in a research note on Wednesday, October 31st.
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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.
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