Carter’s (NYSE:CRI) Trading Down 2.8% – What’s Next?

Carter’s, Inc. (NYSE:CRI) shares fell 2.8% during trading on Thursday . The stock traded as low as $32.91 and last traded at $32.55. 40,769 shares traded hands during mid-day trading, a decline of 97% from the average session volume of 1,299,991 shares. The stock had previously closed at $33.50.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CRI. UBS Group reduced their target price on Carter’s from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Monday, April 28th. Citigroup cut their price target on Carter’s from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Wells Fargo & Company lifted their price target on Carter’s from $25.00 to $28.00 and gave the company an “underweight” rating in a research note on Wednesday, May 14th. Finally, Barclays initiated coverage on Carter’s in a research note on Monday, April 28th. They set an “underweight” rating and a $25.00 price target for the company. Three research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. According to MarketBeat.com, Carter’s presently has a consensus rating of “Reduce” and a consensus target price of $36.80.

Carter’s Price Performance

The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 4.98, a P/E/G ratio of 3.37 and a beta of 1.05. 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 business has a 50 day simple moving average of $35.66 and a 200-day simple moving average of $45.72.

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

Carter’s Increases Dividend

The firm also recently announced a dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, June 3rd will be paid a $0.25 dividend. This represents a dividend yield of 3.19%. The ex-dividend date of this dividend is Monday, June 2nd. This is an increase from Carter’s’s previous dividend of $0.22. Carter’s’s payout ratio is presently 22.12%.

Hedge Funds Weigh In On Carter’s

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Venturi Wealth Management LLC boosted its stake in shares of Carter’s by 36.9% in the 4th quarter. Venturi Wealth Management LLC now owns 994 shares of the textile maker’s stock worth $54,000 after buying an additional 268 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Carter’s by 114.4% in the 4th quarter. Jones Financial Companies Lllp now owns 506 shares of the textile maker’s stock worth $27,000 after buying an additional 270 shares during the last quarter. M&T Bank Corp boosted its stake in shares of Carter’s by 7.2% in the 4th quarter. M&T Bank Corp now owns 4,073 shares of the textile maker’s stock worth $221,000 after buying an additional 272 shares during the last quarter. Hsbc Holdings PLC boosted its stake in shares of Carter’s by 7.1% in the 4th quarter. Hsbc Holdings PLC now owns 5,217 shares of the textile maker’s stock worth $279,000 after buying an additional 347 shares during the last quarter. Finally, Covestor Ltd boosted its stake in shares of Carter’s by 18.6% in the 1st quarter. Covestor Ltd now owns 2,575 shares of the textile maker’s stock worth $106,000 after buying an additional 404 shares during the last quarter.

Carter’s Company 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.