Advisors Asset Management Inc. Invests $1,137,000 in Carter’s Inc. (CRI)
Advisors Asset Management Inc. acquired a new position in Carter’s Inc. (NYSE:CRI) during the second quarter, Holdings Channel reports. The fund acquired 10,680 shares of the company’s stock, valued at approximately $1,137,000.
Several other hedge funds have also recently modified their holdings of CRI. Norges Bank purchased a new stake in shares of Carter’s during the fourth quarter worth $41,277,000. Boston Advisors LLC purchased a new stake in shares of Carter’s during the first quarter worth $2,144,000. Quantitative Systematic Strategies LLC purchased a new stake in shares of Carter’s during the first quarter worth $759,000. Glenmede Trust Co. NA boosted its stake in shares of Carter’s by 523.4% in the first quarter. Glenmede Trust Co. NA now owns 20,384 shares of the company’s stock worth $2,147,000 after buying an additional 17,114 shares during the last quarter. Finally, Sii Investments Inc. WI boosted its stake in shares of Carter’s by 3.2% in the first quarter. Sii Investments Inc. WI now owns 7,252 shares of the company’s stock worth $762,000 after buying an additional 227 shares during the last quarter. Institutional investors and hedge funds own 90.74% of the company’s stock.
Carter’s Inc. (NYSE:CRI) traded down 1.26% during mid-day trading on Tuesday, reaching $96.33. The company had a trading volume of 342,679 shares. Carter’s Inc. has a one year low of $82.22 and a one year high of $112.58. The firm has a market capitalization of $4.82 billion, a P/E ratio of 20.71 and a beta of 0.62. The firm’s 50-day moving average is $98.31 and its 200-day moving average is $102.51.
Carter’s (NYSE:CRI) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.72 EPS for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.06. The company had revenue of $639 million for the quarter, compared to analyst estimates of $636.86 million. Carter’s had a return on equity of 29.33% and a net margin of 7.86%. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.73 earnings per share. On average, equities research analysts anticipate that Carter’s Inc. will post $5.07 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Tuesday, August 30th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date was Friday, August 26th. Carter’s’s dividend payout ratio is currently 28.39%.
Several equities research analysts have issued reports on CRI shares. Citigroup Inc. reissued a “neutral” rating on shares of Carter’s in a report on Wednesday, June 1st. Cowen and Company began coverage on shares of Carter’s in a report on Wednesday, July 13th. They issued a “market perform” rating and a $110.00 target price on the stock. Zacks Investment Research lowered shares of Carter’s from a “strong-buy” rating to a “hold” rating in a report on Friday, July 29th. Monness Crespi & Hardt raised shares of Carter’s from a “neutral” rating to a “buy” rating and set a $118.00 target price on the stock in a report on Monday, August 8th. Finally, Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and issued a $115.00 target price on shares of Carter’s in a report on Friday, September 9th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $112.75.
In related news, CFO Richard F. Westenberger sold 2,500 shares of Carter’s stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $101.00, for a total value of $252,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 3.10% of the stock is owned by corporate insiders.
Carter’s, Inc (Carter’s) is a marketer of apparel for babies and young children in the United States and Canada. The Company operates through five segments: Carter’s Retail, Carter’s Wholesale, OshKosh Retail, OshKosh Wholesale and International. Its international segment includes Company-operated retail stores, wholesale and online operations in addition to royalty income from its international licensees.
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