Equities research analysts at Credit Agricole SA began coverage on shares of Carter’s Inc. (NYSE:CRI) in a report issued on Wednesday. The brokerage set an “underperform” rating and a $95.00 price target on the stock. Credit Agricole SA’s price target suggests a potential upside of 7.76% from the stock’s previous close.
Other research analysts also recently issued reports about the stock. FBR & Co restated a “buy” rating and set a $111.00 target price on shares of Carter’s in a research report on Friday, September 16th. Monness Crespi & Hardt upgraded shares of Carter’s from a “neutral” rating to a “buy” rating and set a $118.00 price objective for the company in a research report on Monday, August 8th. Zacks Investment Research downgraded shares of Carter’s from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 29th. Wells Fargo & Co. downgraded shares of Carter’s from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $111.00 to $93.00 in a research report on Tuesday. Finally, Cowen and Company began coverage on shares of Carter’s in a research report on Wednesday, July 13th. They issued a “market perform” rating and a $110.00 price objective for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. Carter’s currently has an average rating of “Hold” and an average target price of $109.00.
Shares of Carter’s (NYSE:CRI) traded down 1.90% on Wednesday, hitting $88.16. The stock had a trading volume of 1,001,783 shares. The firm’s 50-day moving average price is $97.30 and its 200 day moving average price is $102.18. Carter’s has a 12 month low of $82.22 and a 12 month high of $112.58. The firm has a market cap of $4.41 billion, a P/E ratio of 18.95 and a beta of 0.62.
Carter’s (NYSE:CRI) last posted its earnings results on Wednesday, July 27th. The company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.06. The company earned $639 million during the quarter, compared to the consensus estimate of $636.86 million. Carter’s had a net margin of 7.86% and a return on equity of 29.33%. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.73 earnings per share. Analysts anticipate that Carter’s will post $5.07 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 9th. Investors 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 annualized dividend and a dividend yield of 1.50%. Carter’s’s dividend payout ratio (DPR) is presently 28.39%.
In related news, CFO Richard F. Westenberger sold 2,500 shares of the company’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $101.00, for a total transaction of $252,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.10% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Acrospire Investment Management LLC acquired a new stake in shares of Carter’s during the first quarter valued at about $274,000. JPMorgan Chase & Co. boosted its stake in shares of Carter’s by 79.1% in the first quarter. JPMorgan Chase & Co. now owns 309,526 shares of the company’s stock valued at $32,618,000 after buying an additional 136,727 shares in the last quarter. BlackRock Japan Co. Ltd boosted its stake in shares of Carter’s by 2,428.5% in the first quarter. BlackRock Japan Co. Ltd now owns 8,976 shares of the company’s stock valued at $946,000 after buying an additional 8,621 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Carter’s by 2.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,570,318 shares of the company’s stock valued at $165,480,000 after buying an additional 36,013 shares in the last quarter. Finally, BlackRock Group LTD boosted its stake in shares of Carter’s by 51.9% in the first quarter. BlackRock Group LTD now owns 76,519 shares of the company’s stock valued at $8,063,000 after buying an additional 26,152 shares in the last quarter. 90.76% of the stock is owned by institutional investors.
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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