Carter’s Inc. (CRI) Earns Buy Rating from FBR & Co
Other equities analysts have also issued reports about the company. Citigroup Inc. dropped their price target on Carter’s from $108.00 to $106.00 and set a neutral rating for the company in a research note on Thursday, July 28th. Cowen and Company assumed coverage on Carter’s in a research note on Wednesday, July 13th. They set a market perform rating and a $110.00 price target for the company. Monness Crespi & Hardt raised Carter’s from a neutral rating to a buy rating and set a $118.00 price target for the company in a research note on Monday, August 8th. Oppenheimer Holdings Inc. reissued an outperform rating and set a $115.00 price target on shares of Carter’s in a research note on Friday, September 9th. Finally, Zacks Investment Research lowered Carter’s from a strong-buy rating to a hold rating in a research note on Friday, July 29th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $112.75.
Carter’s (NYSE:CRI) opened at 96.03 on Friday. Carter’s has a 1-year low of $82.22 and a 1-year high of $112.58. The stock has a market capitalization of $4.81 billion, a PE ratio of 20.64 and a beta of 0.62. The stock’s 50 day moving average price is $98.17 and its 200 day moving average price is $102.46.
Carter’s (NYSE:CRI) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.06. Carter’s had a return on equity of 29.33% and a net margin of 7.86%. The company earned $639 million during the quarter, compared to analyst estimates of $636.86 million. During the same period in the prior year, the company earned $0.73 earnings per share. The firm’s revenue was up 4.4% on a year-over-year basis. On average, equities research analysts predict that Carter’s will post $5.07 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Tuesday, August 30th were issued a $0.33 dividend. The ex-dividend date of this dividend was Friday, August 26th. This represents a $1.32 annualized dividend and a dividend yield of 1.37%. Carter’s’s payout ratio is 28.39%.
In other news, CFO Richard F. Westenberger sold 2,500 shares of the 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. 3.10% of the stock is owned by insiders.
Large investors have recently modified their holdings of the company. Mason Street Advisors LLC acquired a new stake in shares of Carter’s during the second quarter valued at $2,465,000. Aristotle Capital Boston LLC increased its stake in shares of Carter’s by 3.7% in the second quarter. Aristotle Capital Boston LLC now owns 105,762 shares of the company’s stock valued at $11,260,000 after buying an additional 3,731 shares during the last quarter. IFP Advisors Inc increased its stake in shares of Carter’s by 25.2% in the second quarter. IFP Advisors Inc now owns 989 shares of the company’s stock valued at $105,000 after buying an additional 199 shares during the last quarter. Calvert Investment Management Inc. increased its stake in shares of Carter’s by 5.7% in the second quarter. Calvert Investment Management Inc. now owns 3,020 shares of the company’s stock valued at $322,000 after buying an additional 163 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of Carter’s by 5.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 176,033 shares of the company’s stock valued at $18,743,000 after buying an additional 9,046 shares during the last quarter. Hedge funds and other institutional investors own 90.76% of the company’s stock.
Carter’s Company Profile
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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