Carter’s (NYSE:CRI) Price Target Raised to $28.00 at Wells Fargo & Company

Carter’s (NYSE:CRI) had its price objective raised by Wells Fargo & Company from $25.00 to $28.00 in a research note released on Wednesday, Marketbeat.com reports. They currently have an underweight rating on the textile maker’s stock.

Other equities analysts have also recently issued research reports about the company. Citigroup cut their price objective on Carter’s from $50.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Barclays initiated coverage on Carter’s in a report on Monday, April 28th. They issued an “underweight” rating and a $25.00 price target for the company. Finally, UBS Group dropped their target price 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 analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $36.80.

Carter’s Stock Performance

Shares of NYSE CRI opened at $35.74 on Wednesday. The business’s 50-day moving average price is $37.50 and its two-hundred day moving average price is $47.38. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 0.96. Carter’s has a one year low of $32.04 and a one year high of $71.99. The company has a market capitalization of $1.30 billion, a P/E ratio of 5.67, a price-to-earnings-growth ratio of 3.37 and a beta of 1.05.

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

Carter’s Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders 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 yield of 8.95%. Carter’s’s payout ratio is 70.80%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CRI. Franklin Resources Inc. raised its stake in Carter’s by 109.8% during the 3rd quarter. Franklin Resources Inc. now owns 38,617 shares of the textile maker’s stock worth $2,468,000 after buying an additional 20,210 shares during the period. Pallas Capital Advisors LLC increased its holdings in Carter’s by 66.7% during the fourth quarter. Pallas Capital Advisors LLC now owns 5,182 shares of the textile maker’s stock worth $281,000 after buying an additional 2,074 shares during the last quarter. Oak Thistle LLC bought a new stake in shares of Carter’s in the 4th quarter valued at about $410,000. Wedge Capital Management L L P NC lifted its position in shares of Carter’s by 23.6% in the fourth quarter. Wedge Capital Management L L P NC now owns 37,026 shares of the textile maker’s stock valued at $2,006,000 after buying an additional 7,075 shares during the last quarter. Finally, Merit Financial Group LLC acquired a new stake in Carter’s during the 4th quarter valued at $291,000.

About Carter’s

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.