Carter’s Inc. (CRI) Shares Sold by Norris Perne & French LLP MI
Norris Perne & French LLP MI cut its stake in Carter’s Inc. (NYSE:CRI) by 5.4% during the second quarter, Holdings Channel reports. The fund owned 32,948 shares of the company’s stock after selling 1,864 shares during the period. Norris Perne & French LLP MI owned about 0.06% of Carter’s worth $3,508,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the company. Bancorpsouth Inc. acquired a new position in Carter’s during the first quarter worth $220,000. Pacific Global Investment Management CO acquired a new position in Carter’s during the first quarter worth $226,000. Acrospire Investment Management LLC acquired a new position in Carter’s during the first quarter worth $274,000. CIBC World Markets Inc. acquired a new position in Carter’s during the first quarter worth $284,000. Finally, LS Investment Advisors LLC raised its position in Carter’s by 61.7% in the second quarter. LS Investment Advisors LLC now owns 3,107 shares of the company’s stock worth $331,000 after buying an additional 1,185 shares during the period. Institutional investors own 90.74% of the company’s stock.
Shares of Carter’s Inc. (NYSE:CRI) traded up 0.25% during mid-day trading on Monday, reaching $97.56. The company’s stock had a trading volume of 462,506 shares. The firm’s 50 day moving average price is $98.31 and its 200-day moving average price is $102.51. Carter’s Inc. has a 1-year low of $82.22 and a 1-year high of $112.58. The company has a market capitalization of $4.88 billion, a price-to-earnings ratio of 20.97 and a beta of 0.62.
Carter’s (NYSE:CRI) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.06. The company had revenue of $639 million for the quarter, compared to the consensus estimate of $636.86 million. Carter’s had a net margin of 7.86% and a return on equity of 29.33%. Carter’s’s revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.73 earnings per share. On average, analysts predict that Carter’s Inc. will post $5.07 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Tuesday, August 30th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date was Friday, August 26th. Carter’s’s dividend payout ratio is currently 28.39%.
A number of research analysts have weighed in on the stock. FBR & Co reissued a “buy” rating and issued a $111.00 target price on shares of Carter’s in a research note on Friday. Cowen and Company assumed coverage on shares of Carter’s in a research note on Wednesday, July 13th. They issued a “market perform” rating and a $110.00 target price on the stock. Citigroup Inc. reissued a “neutral” rating on shares of Carter’s in a research note on Wednesday, June 1st. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $115.00 target price on shares of Carter’s in a research note on Friday, September 9th. Finally, Monness Crespi & Hardt raised shares of Carter’s from a “neutral” rating to a “buy” rating and set a $118.00 target price on the stock in a research note on Monday, August 8th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $112.75.
In other Carter’s news, CFO Richard F. Westenberger sold 2,500 shares of the stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $101.00, for a total transaction of $252,500.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 3.10% of the company’s stock.
Carter’s Company Profile
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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