Carter’s Inc. (CRI) Stake Increased by Tower Research Capital LLC TRC
Tower Research Capital LLC TRC boosted its stake in Carter’s Inc. (NYSE:CRI) by 644.5% during the second quarter, Holdings Channel reports. The firm owned 2,658 shares of the company’s stock after buying an additional 2,301 shares during the period. Tower Research Capital LLC TRC’s holdings in Carter’s were worth $283,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of CRI. Norges Bank purchased a new position in Carter’s during the fourth quarter valued at approximately $41,277,000. Emerald Acquisition Ltd. purchased a new position in Carter’s during the second quarter valued at approximately $29,457,000. First Trust Advisors LP boosted its position in Carter’s by 303.5% in the second quarter. First Trust Advisors LP now owns 255,780 shares of the company’s stock valued at $27,233,000 after buying an additional 192,382 shares during the period. JPMorgan Chase & Co. boosted its position in Carter’s by 79.1% in the first quarter. JPMorgan Chase & Co. now owns 309,526 shares of the company’s stock valued at $32,618,000 after buying an additional 136,727 shares during the period. Finally, Hallmark Capital Management Inc. purchased a new position in Carter’s during the second quarter valued at approximately $12,781,000. Hedge funds and other institutional investors own 90.76% of the company’s stock.
Shares of Carter’s Inc. (NYSE:CRI) opened at 95.66 on Thursday. The company has a 50 day moving average of $98.10 and a 200 day moving average of $102.41. The stock has a market cap of $4.79 billion, a P/E ratio of 20.56 and a beta of 0.62. Carter’s Inc. has a 12 month low of $82.22 and a 12 month high of $112.58.
Carter’s (NYSE:CRI) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.72 EPS for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.06. The business had revenue of $639 million for the quarter, compared to analyst estimates of $636.86 million. Carter’s had a net margin of 7.86% and a return on equity of 29.33%. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.73 earnings per share. Equities research analysts expect that Carter’s Inc. will post $5.07 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Tuesday, August 30th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend was Friday, August 26th. Carter’s’s dividend payout ratio is presently 28.39%.
Several research analysts have recently issued reports on the stock. Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $115.00 price objective on shares of Carter’s in a report on Friday, September 9th. Monness Crespi & Hardt upgraded shares of Carter’s from a “neutral” rating to a “buy” rating and set a $118.00 price objective for the company in a report on Monday, August 8th. Citigroup Inc. decreased their price objective on shares of Carter’s from $108.00 to $106.00 and set a “neutral” rating for the company in a report on Thursday, July 28th. Cowen and Company assumed coverage on shares of Carter’s in a report on Wednesday, July 13th. They issued a “market perform” rating and a $110.00 price objective for the company. Finally, FBR & Co reiterated a “buy” rating and issued a $111.00 price objective on shares of Carter’s in a report on Friday, September 16th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Carter’s presently has a consensus rating of “Buy” and an average price target of $112.75.
In other news, CFO Richard F. Westenberger sold 2,500 shares of the business’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $101.00, for a total value of $252,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 3.10% of the stock is currently owned by insiders.
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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