Freestone Grove Partners LP Invests $680,000 in Carter’s, Inc. (NYSE:CRI)

Freestone Grove Partners LP bought a new stake in shares of Carter’s, Inc. (NYSE:CRI) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 12,543 shares of the textile maker’s stock, valued at approximately $680,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its stake in shares of Carter’s by 114.4% during the fourth quarter. Jones Financial Companies Lllp now owns 506 shares of the textile maker’s stock worth $27,000 after purchasing an additional 270 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Carter’s by 2,112.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 531 shares of the textile maker’s stock valued at $29,000 after buying an additional 507 shares during the period. Venturi Wealth Management LLC lifted its position in Carter’s by 36.9% during the 4th quarter. Venturi Wealth Management LLC now owns 994 shares of the textile maker’s stock worth $54,000 after acquiring an additional 268 shares in the last quarter. New Age Alpha Advisors LLC purchased a new position in Carter’s in the 4th quarter worth approximately $54,000. Finally, AlphaQuest LLC grew its position in Carter’s by 16,314.3% in the fourth quarter. AlphaQuest LLC now owns 1,149 shares of the textile maker’s stock valued at $62,000 after acquiring an additional 1,142 shares in the last quarter.

Carter’s Stock Performance

Shares of Carter’s stock opened at $34.96 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.96 and a current ratio of 2.21. The firm has a market cap of $1.27 billion, a PE ratio of 5.55, a price-to-earnings-growth ratio of 3.37 and a beta of 1.05. Carter’s, Inc. has a 1 year low of $32.04 and a 1 year high of $72.11. The firm’s 50-day simple moving average is $38.63 and its 200-day simple moving average is $48.97.

Carter’s (NYSE:CRI) last issued its earnings results on Friday, April 25th. The textile maker reported $0.66 EPS for the quarter, topping the consensus estimate of $0.53 by $0.13. The company had revenue of $291.09 million during the quarter, compared to analyst estimates of $624.86 million. Carter’s had a return on equity of 27.15% and a net margin of 8.11%. The business’s revenue was down 4.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.98 EPS. Equities analysts forecast that Carter’s, Inc. will post 5.15 earnings per share for the current fiscal year.

Carter’s Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 10th were given a $0.80 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 9.15%. Carter’s’s payout ratio is currently 70.80%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CRI shares. Citigroup decreased their target price on shares of Carter’s from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Barclays started coverage on shares of Carter’s in a research report on Monday, April 28th. They issued an “underweight” rating and a $25.00 price objective for the company. Wells Fargo & Company lowered Carter’s from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $40.00 to $25.00 in a research report on Wednesday. Finally, UBS Group reduced their price target on Carter’s from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Monday, April 28th. Three equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to MarketBeat.com, Carter’s has a consensus rating of “Reduce” and an average target price of $36.20.

Carter’s Profile

Carter’s, Inc engages in the business of brand marketing of young children’s apparel. It operates through the following segments: the United States (US) Retail, US Wholesale, and International. The US Retail segment includes selling products through retail stores and ecommerce websites. The US Wholesale segment focuses on wholesale partners.