Wall Street Zen downgraded shares of Carter’s (NYSE:CRI – Free Report) from a strong-buy rating to a buy rating in a research report report published on Saturday,Wall Street Zen reports.
A number of other equities research analysts have also recently commented on the company. Capital One Financial set a $40.00 price target on Carter’s in a report on Tuesday, September 8th. Zacks Research raised Carter’s from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 21st. Wells Fargo & Company upgraded Carter’s from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $30.00 to $42.00 in a research report on Wednesday, June 17th. Weiss Ratings raised Carter’s from a “sell (d+)” rating to a “hold (c)” rating in a research note on Thursday, August 13th. Finally, UBS Group reissued a “buy” rating on shares of Carter’s in a research note on Wednesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $40.88.
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Carter’s Stock Performance
Carter’s (NYSE:CRI – Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The textile maker reported $0.26 EPS for the quarter, beating the consensus estimate of $0.06 by $0.20. Carter’s had a net margin of 6.55% and a return on equity of 12.78%. The firm had revenue of $615.49 million for the quarter, compared to the consensus estimate of $605.68 million. During the same period last year, the firm earned $0.17 EPS. The company’s revenue was up 5.2% on a year-over-year basis. Equities analysts forecast that Carter’s will post 3.28 earnings per share for the current fiscal year.
Carter’s Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Tuesday, September 1st were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, September 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.2%. Carter’s’s dividend payout ratio (DPR) is presently 18.73%.
Institutional Investors Weigh In On Carter’s
Hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in Carter’s by 36.6% during the first 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 last quarter. Rubric Capital Management LP increased its stake 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 worth $36,434,000 after acquiring an additional 558,853 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in Carter’s in the 2nd quarter worth approximately $28,348,000. Wellington Management Group LLP raised its holdings in shares of Carter’s by 11.9% during the 2nd quarter. Wellington Management Group LLP now owns 645,863 shares of the textile maker’s stock worth $26,584,000 after acquiring an additional 68,464 shares in the last quarter. Finally, Aristides Capital LLC raised its holdings in shares of Carter’s by 123.3% during the 1st quarter. Aristides Capital LLC now owns 163,949 shares of the textile maker’s stock worth $5,863,000 after acquiring an additional 90,533 shares in the last quarter.
About Carter’s
Carter’s, Inc (NYSE:CRI) is a specialty retailer and branded marketer of apparel, accessories and related products for babies and young children. The company’s portfolio includes Carter’s, OshKosh B’gosh, Skip Hop and Little Planet, offering items such as bodysuits, sleepwear, playwear, footwear, outerwear, accessories, baby gear and nursery products.
Founded in 1865 by William Carter, the company has developed into a major children’s apparel business. Carter’s products are sold through company-operated retail stores, e-commerce websites and wholesale partners, including department stores, mass merchants, specialty retailers and other distribution channels.
The company primarily serves customers in the United States and Canada, while also reaching international markets through select wholesale, licensing and distribution arrangements.
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