Carter’s, Inc. (NYSE:CRI) Short Interest Down 9.2% in October

Carter’s, Inc. (NYSE:CRI) was the target of a significant decline in short interest during the month of October. As of October 15th, there was short interest totalling 5,060,000 shares, a decline of 9.2% from the September 30th total of 5,570,000 shares. Based on an average daily trading volume, of 1,180,000 shares, the short-interest ratio is presently 4.3 days. Approximately 14.4% of the company’s stock are sold short.

Institutional Investors Weigh In On Carter’s

Several hedge funds and other institutional investors have recently made changes to their positions in CRI. State of Michigan Retirement System grew its position in Carter’s by 2.3% during the first quarter. State of Michigan Retirement System now owns 9,029 shares of the textile maker’s stock valued at $765,000 after buying an additional 200 shares during the period. GAMMA Investing LLC boosted its stake in shares of Carter’s by 112.0% during the 3rd quarter. GAMMA Investing LLC now owns 405 shares of the textile maker’s stock worth $26,000 after acquiring an additional 214 shares during the last quarter. Quantbot Technologies LP grew its position in shares of Carter’s by 2.3% during the 1st quarter. Quantbot Technologies LP now owns 13,178 shares of the textile maker’s stock valued at $1,116,000 after acquiring an additional 302 shares during the period. Abich Financial Wealth Management LLC increased its stake in shares of Carter’s by 67.6% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 858 shares of the textile maker’s stock worth $53,000 after purchasing an additional 346 shares in the last quarter. Finally, nVerses Capital LLC raised its holdings in Carter’s by 20.0% in the 3rd quarter. nVerses Capital LLC now owns 2,400 shares of the textile maker’s stock worth $156,000 after purchasing an additional 400 shares during the period.

Carter’s Stock Performance

Shares of CRI stock traded down $0.21 on Wednesday, reaching $55.60. The stock had a trading volume of 1,024,525 shares, compared to its average volume of 950,346. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 2.09. Carter’s has a 1 year low of $54.74 and a 1 year high of $88.03. The stock has a market cap of $2.03 billion, a P/E ratio of 8.77, a price-to-earnings-growth ratio of 3.86 and a beta of 1.23. The company has a 50 day simple moving average of $65.64 and a 200 day simple moving average of $65.41.

Carter’s Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th were given a $0.80 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $3.20 annualized dividend and a yield of 5.76%. Carter’s’s payout ratio is 50.47%.

Analyst Ratings Changes

Several equities analysts recently issued reports on CRI shares. Wells Fargo & Company lowered their price objective on Carter’s from $72.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Monday. Bank of America lowered their price target on Carter’s from $65.00 to $54.00 and set an “underperform” rating on the stock in a report on Monday, July 29th. Two research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $70.00.

About Carter’s

Carter's, Inc, together with its subsidiaries, designs, sources, and markets branded childrenswear under the Carter's, OshKosh, Skip Hop, Child of Mine, Just One You, Simple Joys, Little Planet, and other brands in the United States and internationally. It operates through three segments: U.S.