UBS Asset Management Americas Inc. Increases Stake in Carter’s Inc. (CRI)
UBS Asset Management Americas Inc. raised its stake in Carter’s Inc. (NYSE:CRI) by 3.1% during the second quarter, Holdings Channel reports. The firm owned 39,635 shares of the company’s stock after buying an additional 1,200 shares during the period. UBS Asset Management Americas Inc. owned 0.08% of Carter’s worth $4,220,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new stake in Carter’s during the second quarter valued at $106,000. Bancorpsouth Inc. purchased a new stake in shares of Carter’s during the first quarter valued at approximately $220,000. Genesee Valley Trust Co. purchased a new stake in shares of Carter’s during the second quarter valued at approximately $223,000. Pacific Global Investment Management CO purchased a new stake in shares of Carter’s during the first quarter valued at approximately $226,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of Carter’s by 24.2% in the second quarter. PNC Financial Services Group Inc. now owns 2,334 shares of the company’s stock valued at $249,000 after buying an additional 455 shares during the last quarter. Hedge funds and other institutional investors own 90.76% of the company’s stock.
Shares of Carter’s Inc. (NYSE:CRI) traded down 0.71% during mid-day trading on Friday, reaching $86.71. 944,059 shares of the company were exchanged. The firm has a 50-day moving average price of $96.10 and a 200 day moving average price of $101.86. The stock has a market capitalization of $4.34 billion, a P/E ratio of 18.64 and a beta of 0.62. Carter’s Inc. has a 12 month low of $82.22 and a 12 month high of $112.58.
Carter’s (NYSE:CRI) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.06. Carter’s had a net margin of 7.86% and a return on equity of 29.33%. The firm earned $639 million during the quarter, compared to the consensus estimate of $636.86 million. During the same period last year, the firm posted $0.73 EPS. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. Equities research analysts anticipate that Carter’s Inc. will post $5.07 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 9th. Shareholders 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 1.52%. The ex-dividend date was Friday, August 26th. Carter’s’s dividend payout ratio is presently 28.39%.
Several equities research analysts have commented on CRI shares. Wells Fargo & Co. lowered shares of Carter’s from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $111.00 to $93.00 in a research note on Tuesday. Zacks Investment Research lowered shares of Carter’s from a “hold” rating to a “sell” rating in a research note on Wednesday. Credit Agricole SA started coverage on shares of Carter’s in a research note on Wednesday. They issued an “underperform” rating and a $95.00 price target on the stock. Citigroup Inc. dropped their price target on shares of Carter’s from $108.00 to $106.00 and set a “neutral” rating on the stock in a research note on Thursday, July 28th. Finally, FBR & Co restated a “buy” rating and issued a $111.00 price target on shares of Carter’s in a research note on Friday, September 16th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $109.00.
In other Carter’s news, CFO Richard F. Westenberger sold 2,500 shares of the business’s stock in a transaction dated Wednesday, August 10th. The shares were 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 Securities & Exchange Commission, which is available through this link. 3.10% of the stock is currently owned by company 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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