Wellington Management Group LLP grew its position in shares of Carter’s, Inc. (NYSE:CRI – Free Report) by 11.9% during the second quarter, Holdings Channel reports. The firm owned 645,863 shares of the textile maker’s stock after acquiring an additional 68,464 shares during the quarter. Wellington Management Group LLP’s holdings in Carter’s were worth $26,584,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in shares of Carter’s by 36.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,765,205 shares of the textile maker’s stock valued at $63,121,000 after buying an additional 472,786 shares during the period. Empowered Funds LLC purchased a new position in Carter’s during the 1st quarter valued at about $4,896,000. Rubric Capital Management LP grew its position in Carter’s by 121.5% in the 1st quarter. Rubric Capital Management LP now owns 1,018,853 shares of the textile maker’s stock valued at $36,434,000 after acquiring an additional 558,853 shares in the last quarter. Great Lakes Advisors LLC purchased a new stake in Carter’s during the second quarter worth about $3,283,000. Finally, Bank of New York Mellon Corp purchased a new stake in Carter’s during the second quarter worth about $28,348,000.
Carter’s Stock Up 1.3%
Shares of Carter’s stock opened at $33.58 on Friday. The company has a quick ratio of 1.50, a current ratio of 2.47 and a debt-to-equity ratio of 0.55. Carter’s, Inc. has a 52-week low of $27.15 and a 52-week high of $44.44. The company has a market capitalization of $1.23 billion, a P/E ratio of 6.29, a P/E/G ratio of 3.78 and a beta of 0.84. The company has a 50 day moving average of $37.86 and a 200 day moving average of $37.62.
Carter’s Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 1st. Carter’s’s payout ratio is 18.73%.
Wall Street Analyst Weigh In
Several research firms have recently commented on CRI. Wells Fargo & Company raised shares of Carter’s from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $30.00 to $42.00 in a research note on Wednesday, June 17th. UBS Group reiterated a “buy” rating on shares of Carter’s in a report on Wednesday, July 8th. Zacks Research raised shares of Carter’s from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 21st. Wall Street Zen lowered Carter’s from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 29th. Finally, Weiss Ratings upgraded Carter’s from a “sell (d+)” rating to a “hold (c)” rating in a research note on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.17.
Get Our Latest Stock Report on Carter’s
Carter’s Profile
Carter’s, Inc (NYSE: CRI) is a leading designer and marketer of infant and young children’s apparel in North America. Headquartered in Atlanta, Georgia, the company’s core business focuses on creating clothing and accessories for babies and children, including bodysuits, sleepwear, layette, outerwear and accessories that blend comfort, safety and style. Carter’s flagship brand is complemented by its OshKosh B’gosh line, which offers heritage-inspired designs and durable fabrics for toddlers and young kids.
The company distributes its products through a diversified platform that includes wholesale partnerships with major department stores and mass merchandisers, direct‐to‐consumer e-commerce sites, and an extensive network of company-operated retail stores.
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