Carter’s (NYSE:CRI) Shares Up 5.8% – Here’s Why

Carter’s, Inc. (NYSE:CRI) rose 5.8% during trading on Monday . The company traded as high as $42.92 and last traded at $43.10. Approximately 282,650 shares traded hands during trading, a decline of 73% from the average daily volume of 1,062,193 shares. The stock had previously closed at $40.73.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. UBS Group reduced their target price on shares of Carter’s from $57.00 to $49.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Citigroup cut their price objective on shares of Carter’s from $50.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company lowered their price target on shares of Carter’s from $65.00 to $48.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $49.00.

Carter’s Trading Up 8.0 %

The firm’s fifty day moving average is $50.90 and its 200-day moving average is $57.11. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 6.97, a price-to-earnings-growth ratio of 3.37 and a beta of 1.24. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 0.96.

Carter’s (NYSE:CRI) last posted its quarterly earnings results on Tuesday, February 25th. The textile maker reported $2.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.52. Carter’s had a net margin of 8.11% and a return on equity of 27.15%. The company had revenue of $859.70 million for the quarter, compared to analyst estimates of $835.82 million. During the same quarter in the previous year, the firm posted $2.76 earnings per share. The company’s quarterly revenue was up .2% compared to the same quarter last year. Equities analysts anticipate that Carter’s, Inc. will post 5.15 earnings per share for the current year.

Carter’s Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 7.27%. The ex-dividend date is Monday, March 10th. Carter’s’s dividend payout ratio (DPR) is currently 62.62%.

Institutional Trading of Carter’s

A number of large investors have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC purchased a new position in Carter’s during the 3rd quarter worth $329,000. Capital Performance Advisors LLP acquired a new position in shares of Carter’s during the 3rd quarter worth about $28,000. Atria Investments Inc grew its stake in Carter’s by 78.8% during the 3rd quarter. Atria Investments Inc now owns 6,161 shares of the textile maker’s stock valued at $400,000 after acquiring an additional 2,715 shares in the last quarter. Covestor Ltd increased its holdings in shares of Carter’s by 15.3% during the 3rd quarter. Covestor Ltd now owns 2,031 shares of the textile maker’s stock worth $132,000 after buying an additional 270 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its stake in Carter’s by 1.3% during the third quarter. State of New Jersey Common Pension Fund D now owns 29,080 shares of the textile maker’s stock worth $1,890,000 after buying an additional 383 shares during the period.

About Carter’s

Carter’s, Inc engages in the business of brand marketing of young children’s apparel. It operates through the following segments: the United States (US) Retail, US Wholesale, and International. The US Retail segment includes selling products through retail stores and ecommerce websites. The US Wholesale segment focuses on wholesale partners.