Teacher Retirement System of Texas increased its stake in shares of Carter’s Inc. (NYSE:CRI) by 15.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,331 shares of the company’s stock after buying an additional 980 shares during the period. Teacher Retirement System of Texas’ holdings in Carter’s were worth $781,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Quantbot Technologies LP bought a new position in shares of Carter’s during the second quarter valued at approximately $106,000. Bancorpsouth Inc. bought a new position in shares of Carter’s during the first quarter valued at approximately $220,000. Genesee Valley Trust Co. bought a new position in shares of Carter’s during the second quarter valued at approximately $223,000. Pacific Global Investment Management CO bought a new position in shares of Carter’s during the first quarter valued at approximately $226,000. Finally, PNC Financial Services Group Inc. raised its position in shares of Carter’s by 24.2% in the second quarter. PNC Financial Services Group Inc. now owns 2,334 shares of the company’s stock valued at $249,000 after buying an additional 455 shares in the last quarter. Institutional investors own 90.76% of the company’s stock.
Shares of Carter’s Inc. (NYSE:CRI) traded down 1.67% during midday trading on Wednesday, hitting $88.37. The company had a trading volume of 344,688 shares. Carter’s Inc. has a 12 month low of $82.22 and a 12 month high of $112.58. The stock’s 50-day moving average price is $97.30 and its 200-day moving average price is $102.18. The company has a market cap of $4.42 billion, a price-to-earnings ratio of 19.00 and a beta of 0.62.
Carter’s (NYSE:CRI) last posted its earnings results on Wednesday, July 27th. The company reported $0.72 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.06. The business earned $639 million during the quarter, compared to the consensus estimate 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 quarter last year, the company earned $0.73 EPS. On average, equities research analysts forecast that Carter’s Inc. will post $5.07 EPS for the current year.
The business also recently announced 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 was Friday, August 26th. This represents a $1.32 annualized dividend and a dividend yield of 1.47%. Carter’s’s dividend payout ratio (DPR) is presently 28.39%.
Several brokerages have commented on CRI. Citigroup Inc. reiterated a “neutral” rating on shares of Carter’s in a research note on Wednesday, June 1st. Zacks Investment Research lowered shares of Carter’s from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 29th. Cowen and Company began coverage on shares of Carter’s in a research note on Wednesday, July 13th. They issued a “market perform” rating and a $110.00 price target on the stock. Monness Crespi & Hardt upgraded shares of Carter’s from a “neutral” rating to a “buy” rating and set a $118.00 price target on the stock in a research note on Monday, August 8th. Finally, FBR & Co reiterated a “buy” rating and issued a $111.00 price target on shares of Carter’s in a research note on Friday, September 16th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $110.56.
In related news, CFO Richard F. Westenberger sold 2,500 shares of the firm’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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.10% of the company’s stock.
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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