PNC Financial Services Group Inc. reduced its stake in shares of Carter’s, Inc. (NYSE:CRI) by 65.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,439 shares of the textile maker’s stock after selling 2,680 shares during the period. PNC Financial Services Group Inc.’s holdings in Carter’s were worth $151,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the stock. Quantbot Technologies LP bought a new position in shares of Carter’s in the 1st quarter worth about $2,349,000. Citigroup Inc. raised its position in shares of Carter’s by 6.4% in the 1st quarter. Citigroup Inc. now owns 37,573 shares of the textile maker’s stock worth $3,912,000 after acquiring an additional 2,255 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Carter’s by 2.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 450,812 shares of the textile maker’s stock worth $46,930,000 after acquiring an additional 9,306 shares in the last quarter. California Public Employees Retirement System raised its position in shares of Carter’s by 13.9% in the 1st quarter. California Public Employees Retirement System now owns 139,923 shares of the textile maker’s stock worth $14,566,000 after acquiring an additional 17,072 shares in the last quarter. Finally, Natixis Advisors L.P. raised its position in shares of Carter’s by 2.8% in the 1st quarter. Natixis Advisors L.P. now owns 21,525 shares of the textile maker’s stock worth $2,241,000 after acquiring an additional 595 shares in the last quarter. 96.85% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently weighed in on CRI. UBS Group began coverage on Carter’s in a research report on Thursday, June 21st. They issued a “neutral” rating and a $114.00 price objective for the company. Zacks Investment Research lowered Carter’s from a “hold” rating to a “sell” rating in a research report on Tuesday, May 1st. ValuEngine lowered Carter’s from a “buy” rating to a “hold” rating in a research report on Wednesday, June 13th. Cowen set a $109.00 price objective on Carter’s and gave the stock a “hold” rating in a research report on Tuesday, April 24th. Finally, Monness Crespi & Hardt reissued a “buy” rating and issued a $130.00 price objective (down from $137.00) on shares of Carter’s in a research report on Monday, April 30th. Two analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company’s stock. Carter’s currently has a consensus rating of “Hold” and an average target price of $120.92.
Shares of CRI opened at $108.39 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 4.14 and a quick ratio of 2.02. The stock has a market capitalization of $5.19 billion, a PE ratio of 18.75, a PEG ratio of 1.88 and a beta of 0.42. Carter’s, Inc. has a one year low of $83.84 and a one year high of $129.00.
Carter’s (NYSE:CRI) last issued its earnings results on Thursday, April 26th. The textile maker reported $1.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.11. The company had revenue of $755.79 million during the quarter, compared to the consensus estimate of $744.23 million. Carter’s had a return on equity of 35.09% and a net margin of 8.72%. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period last year, the business posted $0.97 EPS. sell-side analysts forecast that Carter’s, Inc. will post 6.41 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 15th. Stockholders of record on Tuesday, May 29th were paid a $0.45 dividend. The ex-dividend date was Friday, May 25th. This represents a $1.80 annualized dividend and a dividend yield of 1.66%. Carter’s’s dividend payout ratio is presently 31.25%.
In other Carter’s news, EVP Kevin Doyle Corning sold 3,491 shares of Carter’s stock in a transaction dated Friday, June 1st. The stock was sold at an average price of $108.51, for a total transaction of $378,808.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David Pulver purchased 3,000 shares of the business’s stock in a transaction on Tuesday, May 1st. The shares were bought at an average price of $100.32 per share, with a total value of $300,960.00. Following the purchase, the director now directly owns 55,664 shares in the company, valued at approximately $5,584,212.48. The disclosure for this purchase can be found here. Company insiders own 3.30% of the company’s stock.
Carter’s Company Profile
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.
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