Wedge Capital Management L L P NC Increases Position in Carter’s, Inc. (NYSE:CRI)

Wedge Capital Management L L P NC raised its position in Carter’s, Inc. (NYSE:CRI) by 40.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,945 shares of the textile maker’s stock after purchasing an additional 14,919 shares during the quarter. Wedge Capital Management L L P NC owned 0.14% of Carter’s worth $2,125,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CRI. Jones Financial Companies Lllp increased its position 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 acquiring an additional 270 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Carter’s by 2,112.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 531 shares of the textile maker’s stock worth $29,000 after acquiring an additional 507 shares during the period. Colonial Trust Co SC purchased a new stake in shares of Carter’s during the fourth quarter worth $29,000. Parallel Advisors LLC increased its position in shares of Carter’s by 80.9% during the first quarter. Parallel Advisors LLC now owns 1,062 shares of the textile maker’s stock worth $43,000 after acquiring an additional 475 shares during the period. Finally, True Wealth Design LLC grew its stake in shares of Carter’s by 173.0% during the fourth quarter. True Wealth Design LLC now owns 901 shares of the textile maker’s stock worth $49,000 after purchasing an additional 571 shares in the last quarter.

Analysts Set New Price Targets

CRI has been the subject of a number of analyst reports. Barclays initiated coverage on shares of Carter’s in a research note on Monday, April 28th. They set an “underweight” rating and a $25.00 target price for the company. Wells Fargo & Company boosted their target price on shares of Carter’s from $25.00 to $28.00 and gave the stock an “underweight” rating in a research note on Wednesday, May 14th. UBS Group decreased their price objective on shares of Carter’s from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Monday, April 28th. Finally, Citigroup decreased their price objective 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. Three analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. Based on data from MarketBeat.com, Carter’s currently has an average rating of “Reduce” and a consensus price target of $36.80.

Carter’s Stock Up 2.2%

CRI stock opened at $32.59 on Wednesday. The stock has a market capitalization of $1.19 billion, a P/E ratio of 5.17, a PEG ratio of 3.37 and a beta of 1.00. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.96 and a current ratio of 2.21. Carter’s, Inc. has a one year low of $29.62 and a one year high of $71.99. The company has a 50 day moving average price of $34.42 and a two-hundred day moving average price of $44.65.

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

Carter’s Increases Dividend

The company also recently disclosed a dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, June 3rd will be issued a $0.25 dividend. The ex-dividend date is Monday, June 2nd. This represents a yield of 3.19%. This is a positive change from Carter’s’s previous dividend of $0.22. Carter’s’s payout ratio is currently 22.12%.

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.