PNC Financial Services Group Inc. increased its stake in Carter’s Inc. (NYSE:CRI) by 24.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,334 shares of the company’s stock after buying an additional 455 shares during the period. PNC Financial Services Group Inc.’s holdings in Carter’s were worth $249,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the company. State Street Corp raised 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 during the period. Geode Capital Management LLC raised its stake in Carter’s by 5.0% in the first quarter. Geode Capital Management LLC now owns 310,152 shares of the company’s stock valued at $32,683,000 after buying an additional 14,739 shares during the period. Ngam Advisors L.P. raised its stake in Carter’s by 11.8% in the first quarter. Ngam Advisors L.P. now owns 15,338 shares of the company’s stock valued at $1,616,000 after buying an additional 1,613 shares during the period. Emerald Acquisition Ltd. bought a new stake in Carter’s during the second quarter valued at approximately $29,457,000. Finally, Seven Eight Capital LLC bought a new stake in Carter’s during the first quarter valued at approximately $531,000. 90.76% of the stock is currently owned by hedge funds and other institutional investors.
Carter’s Inc. (NYSE:CRI) traded down 0.71% during trading on Friday, hitting $86.71. The stock had a trading volume of 944,059 shares. The stock’s 50 day moving average price is $96.10 and its 200 day moving average price is $101.86. Carter’s Inc. has a 12-month low of $82.22 and a 12-month high of $112.58. The firm has a market cap of $4.34 billion, a P/E ratio of 18.64 and a beta of 0.62.
Carter’s (NYSE:CRI) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.06. Carter’s had a return on equity of 29.33% and a net margin of 7.86%. The company had revenue of $639 million for the quarter, compared to analyst estimates of $636.86 million. During the same quarter in the prior year, the company posted $0.73 EPS. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, analysts anticipate that Carter’s Inc. will post $5.07 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Tuesday, August 30th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.52%. The ex-dividend date was Friday, August 26th. Carter’s’s dividend payout ratio (DPR) is currently 28.39%.
CRI has been the topic of several analyst reports. Zacks Investment Research lowered Carter’s from a “strong-buy” rating to a “hold” rating in a report on Friday, July 29th. FBR & Co reiterated a “buy” rating and set a $111.00 price target on shares of Carter’s in a research report on Friday, September 16th. Credit Agricole SA started coverage on Carter’s in a research report on Wednesday. They set an “underperform” rating and a $95.00 price target on the stock. Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $115.00 price target on shares of Carter’s in a research report on Friday, September 9th. Finally, Wells Fargo & Co. downgraded Carter’s from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $111.00 to $93.00 in a research report on Tuesday, September 27th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $109.00.
In related news, CFO Richard F. Westenberger sold 2,500 shares of the stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $101.00, for a total value of $252,500.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.10% of the stock is owned by corporate insiders.
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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