Carter’s’ (CRI) Buy Rating Reaffirmed at FBR & Co
Other equities research analysts have also issued reports about the stock. Citigroup Inc. lowered their price target on shares of Carter’s from $108.00 to $106.00 and set a neutral rating on the stock in a research note on Thursday, July 28th. Cowen and Company assumed coverage on shares of Carter’s in a research note on Wednesday, July 13th. They set a market perform rating and a $110.00 price objective on the stock. Monness Crespi & Hardt upgraded shares of Carter’s from a neutral rating to a buy rating and set a $118.00 price objective on the stock in a research note on Monday, August 8th. Oppenheimer Holdings Inc. restated an outperform rating and set a $115.00 price objective on shares of Carter’s in a research note on Friday, September 9th. Finally, Zacks Investment Research lowered shares of Carter’s from a strong-buy rating to a hold rating in a research note on Friday, July 29th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $112.75.
Carter’s (NYSE:CRI) traded up 1.46% during trading on Friday, hitting $98.74. 67,796 shares of the stock were exchanged. The firm has a market capitalization of $4.94 billion, a PE ratio of 21.23 and a beta of 0.62. The stock has a 50 day moving average price of $99.10 and a 200-day moving average price of $102.67. Carter’s has a 12-month low of $82.22 and a 12-month high of $112.58.
Carter’s (NYSE:CRI) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.06. Carter’s had a net margin of 7.86% and a return on equity of 29.33%. The firm had revenue of $639 million for the quarter, compared to analyst estimates of $636.86 million. During the same period in the previous year, the business earned $0.73 EPS. The company’s revenue was up 4.4% compared to the same quarter last year. On average, equities research analysts anticipate that Carter’s will post $5.07 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Tuesday, August 30th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend was Friday, August 26th. Carter’s’s payout ratio is 28.39%.
In other Carter’s news, CFO Richard F. Westenberger sold 2,500 shares of the business’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $101.00, for a total value of $252,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.10% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new stake in Carter’s during the fourth quarter worth about $41,277,000. Fiera Capital Corp increased its stake in Carter’s by 1,417.3% in the second quarter. Fiera Capital Corp now owns 480,981 shares of the company’s stock worth $51,210,000 after buying an additional 449,281 shares in the last quarter. TimesSquare Capital Management LLC acquired a new stake in Carter’s during the second quarter worth about $36,434,000. Thrivent Financial for Lutherans increased its stake in Carter’s by 4,167.5% in the second quarter. Thrivent Financial for Lutherans now owns 283,360 shares of the company’s stock worth $30,170,000 after buying an additional 276,720 shares in the last quarter. Finally, Emerald Acquisition Ltd. acquired a new stake in Carter’s during the second quarter worth about $29,457,000. 90.74% of the stock is owned by hedge funds and other institutional investors.
Carter’s, Inc (Carter’s) is a marketer of apparel for babies and young children in the United States and Canada. The Company operates through five segments: Carter’s Retail, Carter’s Wholesale, OshKosh Retail, OshKosh Wholesale and International. Its international segment includes Company-operated retail stores, wholesale and online operations in addition to royalty income from its international licensees.
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