Carter’s (NYSE:CRI) Price Target Raised to $72.00 at Wells Fargo & Company

Carter’s (NYSE:CRI) had its target price raised by Wells Fargo & Company from $60.00 to $72.00 in a report released on Monday morning, Benzinga reports. They currently have an equal weight rating on the textile maker’s stock.

Separately, Bank of America reduced their price target on shares of Carter’s from $65.00 to $54.00 and set an underperform rating for the company in a research report on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat.com, Carter’s has an average rating of Hold and a consensus price target of $71.17.

Carter’s Stock Up 1.4 %

Shares of NYSE:CRI opened at $69.88 on Monday. Carter’s has a fifty-two week low of $54.74 and a fifty-two week high of $88.03. The firm’s 50 day moving average price is $63.54 and its 200 day moving average price is $69.52. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of 11.02, a price-to-earnings-growth ratio of 4.28 and a beta of 1.23. The company has a quick ratio of 0.95, a current ratio of 2.09 and a debt-to-equity ratio of 0.61.

Carter’s (NYSE:CRI) last announced its quarterly earnings results on Friday, July 26th. The textile maker reported $0.76 EPS for the quarter, beating the consensus estimate of $0.45 by $0.31. Carter’s had a net margin of 8.29% and a return on equity of 28.65%. The company had revenue of $564.43 million for the quarter, compared to analyst estimates of $566.79 million. As a group, equities research analysts predict that Carter’s will post 4.9 earnings per share for the current fiscal year.

Carter’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, August 27th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 4.58%. The ex-dividend date of this dividend is Tuesday, August 27th. Carter’s’s dividend payout ratio is presently 50.47%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Gladius Capital Management LP purchased a new position in Carter’s during the 2nd quarter valued at about $30,000. Ables Iannone Moore & Associates Inc. purchased a new position in shares of Carter’s during the 4th quarter worth $37,000. CWM LLC grew its holdings in Carter’s by 431.3% in the 2nd quarter. CWM LLC now owns 595 shares of the textile maker’s stock valued at $37,000 after buying an additional 483 shares during the period. Abich Financial Wealth Management LLC increased its position in Carter’s by 67.6% during the second 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 during the last quarter. Finally, Parallel Advisors LLC raised its stake in Carter’s by 457.2% during the fourth quarter. Parallel Advisors LLC now owns 808 shares of the textile maker’s stock worth $61,000 after purchasing an additional 663 shares during the period.

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.