Carter’s (CRI) Stake Lowered by SG Americas Securities LLC

SG Americas Securities LLC lessened its position in Carter’s (NYSE:CRI) by 65.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,028 shares of the textile maker’s stock after selling 26,719 shares during the period. SG Americas Securities LLC’s holdings in Carter’s were worth $1,460,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the company. New York State Teachers Retirement System boosted its stake in shares of Carter’s by 0.8% in the 1st quarter. New York State Teachers Retirement System now owns 66,700 shares of the textile maker’s stock valued at $6,943,000 after purchasing an additional 500 shares in the last quarter. Hussman Strategic Advisors Inc. acquired a new stake in shares of Carter’s in the 1st quarter valued at $3,644,000. Polaris Capital Management LLC boosted its stake in shares of Carter’s by 38.9% in the 1st quarter. Polaris Capital Management LLC now owns 547,546 shares of the textile maker’s stock valued at $57,000,000 after purchasing an additional 153,325 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Carter’s by 8.1% in the 1st quarter. Wells Fargo & Company MN now owns 215,460 shares of the textile maker’s stock valued at $22,429,000 after purchasing an additional 16,145 shares in the last quarter. Finally, Xact Kapitalforvaltning AB acquired a new stake in shares of Carter’s in the 4th quarter valued at $450,000. Institutional investors own 87.09% of the company’s stock.

Shares of NYSE CRI opened at $111.29 on Friday. The stock has a market cap of $5.22 billion, a P/E ratio of 18.86, a P/E/G ratio of 1.88 and a beta of 0.42. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.02 and a current ratio of 4.14. Carter’s has a 12-month low of $79.76 and a 12-month high of $129.00.

Carter’s (NYSE:CRI) last issued its quarterly earnings results on Thursday, April 26th. The textile maker reported $1.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.11. The business had revenue of $755.79 million for the quarter, compared to the consensus estimate of $744.23 million. Carter’s had a net margin of 8.72% and a return on equity of 35.09%. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.97 EPS. sell-side analysts forecast that Carter’s will post 6.42 earnings per share for the current fiscal year.

Carter’s declared that its board has initiated a share repurchase plan on Tuesday, February 27th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the textile maker to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Tuesday, May 29th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, May 25th. This represents a $1.80 annualized dividend and a yield of 1.62%. Carter’s’s dividend payout ratio (DPR) is 31.25%.

In other Carter’s news, Director David Pulver bought 3,000 shares of the business’s stock in a transaction on Tuesday, May 1st. The shares were bought at an average cost of $100.32 per share, for a total transaction of $300,960.00. Following the transaction, the director now owns 55,664 shares in the company, valued at approximately $5,584,212.48. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Brian Lynch sold 26,500 shares of the company’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $116.12, for a total transaction of $3,077,180.00. The disclosure for this sale can be found here. Corporate insiders own 3.30% of the company’s stock.

Several brokerages have recently commented on CRI. Zacks Investment Research downgraded shares of Carter’s from a “hold” rating to a “sell” rating in a research note on Tuesday, May 1st. ValuEngine upgraded shares of Carter’s from a “hold” rating to a “buy” rating in a research note on Thursday. Monness Crespi & Hardt restated a “buy” rating and issued a $130.00 target price (down previously from $137.00) on shares of Carter’s in a research note on Monday, April 30th. Cowen set a $109.00 target price on shares of Carter’s and gave the company a “hold” rating in a research note on Tuesday, April 24th. Finally, Citigroup boosted their target price on shares of Carter’s from $132.00 to $134.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company. Carter’s currently has an average rating of “Buy” and an average price target of $121.50.

About Carter’s

Carter's, Inc, together with its subsidiaries, designs, sources, and markets branded childrenswear under the Carter's, Child of Mine, Just One You, Precious Firsts, Simple Joys, OshKosh, Skip Hop, and other brands. The company operates through three segments: U.S. Retail, U.S. Wholesale, and International.

Institutional Ownership by Quarter for Carter`s (NYSE:CRI)

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