Municipal Employees Retirement System of Michigan cut its stake in shares of Carter’s, Inc. (NYSE:CRI) by 21.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,470 shares of the textile maker’s stock after selling 4,030 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Carter’s were worth $1,429,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the business. Lazard Asset Management LLC raised its holdings in shares of Carter’s by 1,428.4% in the second quarter. Lazard Asset Management LLC now owns 2,289,358 shares of the textile maker’s stock worth $203,638,000 after buying an additional 2,139,567 shares during the period. Los Angeles Capital Management & Equity Research Inc. raised its holdings in shares of Carter’s by 137.8% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 539,046 shares of the textile maker’s stock worth $47,948,000 after buying an additional 312,412 shares during the period. Legal & General Group Plc raised its holdings in shares of Carter’s by 30.8% in the second quarter. Legal & General Group Plc now owns 44,331 shares of the textile maker’s stock worth $3,943,000 after buying an additional 10,430 shares during the period. First Trust Advisors LP raised its holdings in shares of Carter’s by 77.6% in the second quarter. First Trust Advisors LP now owns 61,179 shares of the textile maker’s stock worth $5,442,000 after buying an additional 26,723 shares during the period. Finally, Stevens Capital Management LP raised its holdings in shares of Carter’s by 5.7% in the second quarter. Stevens Capital Management LP now owns 75,281 shares of the textile maker’s stock worth $6,696,000 after buying an additional 4,030 shares during the period. Institutional investors and hedge funds own 96.17% of the company’s stock.

In other Carter’s news, Director Paul Fulton sold 8,643 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $87.58, for a total transaction of $756,953.94. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Michael Dennis Casey sold 26,524 shares of the stock in a transaction on Monday, November 6th. The shares were sold at an average price of $99.14, for a total value of $2,629,589.36. The disclosure for this sale can be found here. In the last three months, insiders sold 72,103 shares of company stock worth $7,120,587. 3.10% of the stock is owned by insiders.

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Carter’s, Inc. (CRI) opened at $105.07 on Friday. Carter’s, Inc. has a 52 week low of $77.94 and a 52 week high of $106.67. The stock has a market capitalization of $4,970.00, a P/E ratio of 19.49, a P/E/G ratio of 2.00 and a beta of 0.33. The company has a quick ratio of 1.34, a current ratio of 3.20 and a debt-to-equity ratio of 0.89.

Carter’s (NYSE:CRI) last announced its quarterly earnings data on Thursday, October 26th. The textile maker reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.05. Carter’s had a return on equity of 33.38% and a net margin of 7.69%. The company had revenue of $948.23 million for the quarter, compared to analysts’ expectations of $950.64 million. During the same quarter in the prior year, the firm earned $1.61 earnings per share. Carter’s’s revenue was up 5.2% compared to the same quarter last year. analysts expect that Carter’s, Inc. will post 5.64 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Monday, November 20th will be paid a $0.37 dividend. The ex-dividend date is Friday, November 17th. This represents a $1.48 annualized dividend and a yield of 1.41%. Carter’s’s dividend payout ratio (DPR) is currently 28.46%.

CRI has been the topic of several recent analyst reports. Cowen and Company set a $92.00 price target on Carter’s and gave the stock a “hold” rating in a report on Monday, October 23rd. The Goldman Sachs Group, Inc. initiated coverage on Carter’s in a report on Tuesday, September 5th. They issued a “buy” rating and a $105.00 price target on the stock. Bank of America Corporation initiated coverage on Carter’s in a report on Friday, September 15th. They issued a “buy” rating and a $106.00 price target on the stock. Zacks Investment Research downgraded Carter’s from a “buy” rating to a “hold” rating in a report on Wednesday, October 25th. Finally, Macquarie initiated coverage on Carter’s in a report on Tuesday, August 29th. They issued an “outperform” rating and a $110.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $105.27.

Carter’s Profile

Carter’s, Inc (Carter’s) is a marketer of apparel for babies and young children in the United States and Canada. The Company owns two brand names in the children’s apparel industry, Carter’s and OshKosh B’gosh (OshKosh). The Company operates through five segments: Carter’s Retail, Carter’s Wholesale, OshKosh Retail, OshKosh Wholesale and International.

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Institutional Ownership by Quarter for Carter`s (NYSE:CRI)

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