Allianz Asset Management GmbH Has $30.22 Million Holdings in Carter's, Inc. (CRI)
Allianz Asset Management GmbH trimmed its position in shares of Carter's, Inc. (NYSE:CRI) by 4.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 257,211 shares of the textile maker’s stock after selling 10,940 shares during the period. Allianz Asset Management GmbH’s holdings in Carter's were worth $30,220,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the business. BancorpSouth Bank purchased a new stake in shares of Carter's during the fourth quarter valued at about $419,000. Spark Investment Management LLC purchased a new stake in shares of Carter's during the fourth quarter valued at about $3,759,000. Eaton Vance Management purchased a new stake in shares of Carter's during the fourth quarter valued at about $8,850,000. Suntrust Banks Inc. purchased a new stake in shares of Carter's during the fourth quarter valued at about $2,266,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Carter's during the fourth quarter valued at about $7,545,000. 96.95% of the stock is owned by institutional investors and hedge funds.
In related news, EVP Greg Foglesong sold 6,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $117.98, for a total value of $707,880.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.10% of the company’s stock.
Carter's (NYSE:CRI) last announced its quarterly earnings data on Tuesday, February 27th. The textile maker reported $2.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.20 by $0.12. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.03 billion. Carter's had a net margin of 8.90% and a return on equity of 35.46%. Carter's’s revenue was up 10.0% on a year-over-year basis. During the same period last year, the firm posted $1.79 EPS. research analysts anticipate that Carter's, Inc. will post 6.65 earnings per share for the current fiscal year.
Carter's declared that its Board of Directors has authorized a stock buyback program on Tuesday, February 27th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the textile maker to buy shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s management believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Investors of record on Monday, March 12th will be given a $0.45 dividend. This is a positive change from Carter's’s previous quarterly dividend of $0.37. This represents a $1.80 annualized dividend and a dividend yield of 1.54%. The ex-dividend date is Friday, March 9th. Carter's’s dividend payout ratio (DPR) is presently 23.57%.
Several analysts have commented on the stock. Citigroup increased their price target on shares of Carter's from $132.00 to $134.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Zacks Investment Research raised shares of Carter's from a “hold” rating to a “buy” rating and set a $135.00 price target for the company in a research report on Monday, February 26th. Cowen set a $118.00 price target on shares of Carter's and gave the company a “hold” rating in a research report on Friday, February 23rd. Oppenheimer increased their price target on shares of Carter's from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday, February 22nd. Finally, Monness Crespi & Hardt reissued a “buy” rating and set a $137.00 price target (up from $115.00) on shares of Carter's in a research report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company. Carter's has an average rating of “Buy” and an average target price of $119.08.
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Carter’s, Inc (Carter’s) is a marketer of apparel for babies and young children in the United States and Canada. The Company owns two brand names in the children’s apparel industry, Carter’s and OshKosh B’gosh (OshKosh). The Company operates through five segments: Carter’s Retail, Carter’s Wholesale, OshKosh Retail, OshKosh Wholesale and International.
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