Midas Management Corp maintained its stake in Carter’s Inc. (NYSE:CRI) during the second quarter, Holdings Channel reports. The fund owned 8,300 shares of the company’s stock at the end of the second quarter. Midas Management Corp’s holdings in Carter’s were worth $884,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Riverhead Capital Management LLC increased its stake in Carter’s by 319.0% in the first quarter. Riverhead Capital Management LLC now owns 39,383 shares of the company’s stock valued at $4,151,000 after buying an additional 29,983 shares in the last quarter. Pacific Global Investment Management CO bought a new stake in Carter’s during the first quarter valued at approximately $226,000. RPg Family Wealth Advisory LLC increased its stake in Carter’s by 1.8% in the first quarter. RPg Family Wealth Advisory LLC now owns 45,388 shares of the company’s stock valued at $4,783,000 after buying an additional 792 shares in the last quarter. State Street Corp increased its stake in Carter’s by 1.2% in the first quarter. State Street Corp now owns 1,346,385 shares of the company’s stock valued at $141,885,000 after buying an additional 16,154 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new stake in Carter’s during the first quarter valued at approximately $1,054,000. 90.71% of the stock is owned by hedge funds and other institutional investors.
Carter’s Inc. (NYSE:CRI) traded up 0.14% during midday trading on Tuesday, hitting $85.92. The company had a trading volume of 653,588 shares. Carter’s Inc. has a 12-month low of $82.22 and a 12-month high of $112.58. The stock has a market cap of $4.30 billion, a price-to-earnings ratio of 18.47 and a beta of 0.67. The company’s 50 day moving average is $92.00 and its 200 day moving average is $100.52.
Carter’s (NYSE:CRI) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.06. The company had revenue of $639 million for the quarter, compared to analysts’ expectations of $636.86 million. Carter’s had a return on equity of 29.33% and a net margin of 7.86%. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.73 earnings per share. On average, equities analysts anticipate that Carter’s Inc. will post $5.07 EPS for the current fiscal year.
Several analysts have commented on the company. Cowen and Company assumed coverage on Carter’s in a research note on Wednesday, July 13th. They set a “market perform” rating and a $110.00 price objective for the company. Zacks Investment Research downgraded Carter’s from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 29th. Citigroup Inc. cut their target price on Carter’s from $108.00 to $106.00 and set a “neutral” rating for the company in a research note on Thursday, July 28th. Monness Crespi & Hardt raised Carter’s from a “neutral” rating to a “buy” rating and set a $118.00 target price for the company in a research note on Monday, August 8th. Finally, FBR & Co reissued a “buy” rating and set a $111.00 target price on shares of Carter’s in a research note on Friday, September 16th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $109.00.
In other news, CFO Richard F. Westenberger sold 2,500 shares of Carter’s stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $101.00, for a total transaction of $252,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 3.10% 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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