Wells Fargo & Co. downgraded shares of Carter’s Inc. (NYSE:CRI) from an outperform rating to a market perform rating in a research note released on Tuesday morning. They currently have $93.00 target price on the stock, down from their previous target price of $111.00.
Several other equities research analysts have also commented on CRI. Citigroup Inc. restated a neutral rating on shares of Carter’s in a research note on Wednesday, June 1st. Cowen and Company initiated coverage on Carter’s in a research note on Wednesday, July 13th. They issued a market perform rating and a $110.00 price objective for the company. Zacks Investment Research lowered Carter’s from a strong-buy rating to a hold rating in a research note on Friday, July 29th. Monness Crespi & Hardt upgraded Carter’s from a neutral rating to a buy rating and set a $118.00 price objective for the company in a research note on Monday, August 8th. Finally, Oppenheimer Holdings Inc. restated an outperform rating and issued a $115.00 price objective on shares of Carter’s in a research note on Friday, September 9th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. Carter’s presently has a consensus rating of Hold and an average price target of $109.00.
Shares of Carter’s (NYSE:CRI) opened at 86.71 on Tuesday. The firm’s 50-day moving average price is $96.10 and its 200 day moving average price is $101.86. The company has a market cap of $4.34 billion, a price-to-earnings ratio of 18.64 and a beta of 0.67. Carter’s has a 52 week low of $82.22 and a 52 week high of $112.58.
Carter’s (NYSE:CRI) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.66 by $0.06. The firm earned $639 million during the quarter, compared to analyst estimates of $636.86 million. Carter’s had a return on equity of 29.33% and a net margin of 7.86%. Carter’s’s revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.73 EPS. On average, equities research analysts forecast that Carter’s will post $5.07 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Tuesday, August 30th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, August 26th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.52%. Carter’s’s payout ratio is 28.39%.
In other news, CFO Richard F. Westenberger sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $101.00, for a total transaction of $252,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.10% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Mason Street Advisors LLC purchased a new position in shares of Carter’s during the second quarter worth $2,465,000. Aristotle Capital Boston LLC increased its position in shares of Carter’s by 3.7% in the second quarter. Aristotle Capital Boston LLC now owns 105,762 shares of the company’s stock worth $11,260,000 after buying an additional 3,731 shares during the last quarter. IFP Advisors Inc increased its position in shares of Carter’s by 25.2% in the second quarter. IFP Advisors Inc now owns 989 shares of the company’s stock worth $105,000 after buying an additional 199 shares during the last quarter. Calvert Investment Management Inc. increased its position in shares of Carter’s by 5.7% in the second quarter. Calvert Investment Management Inc. now owns 3,020 shares of the company’s stock worth $322,000 after buying an additional 163 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in shares of Carter’s by 5.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 176,033 shares of the company’s stock worth $18,743,000 after buying an additional 9,046 shares during the last quarter. Hedge funds and other institutional investors own 90.76% of the company’s stock.
Carter’s Company Profile
Carter’s, Inc (Carter’s) is a marketer of apparel for babies and young children in the United States and Canada. The Company operates through five segments: Carter’s Retail, Carter’s Wholesale, OshKosh Retail, OshKosh Wholesale and International. Its international segment includes Company-operated retail stores, wholesale and online operations in addition to royalty income from its international licensees.
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