Traders Sell Shares of Carter’s (CRI) on Strength After Insider Selling
Traders sold shares of Carter’s, Inc. (NYSE:CRI) on strength during trading on Tuesday following insider selling activity. $15.20 million flowed into the stock on the tick-up and $25.55 million flowed out of the stock on the tick-down, for a money net flow of $10.35 million out of the stock. Of all stocks tracked, Carter’s had the 0th highest net out-flow for the day. Carter’s traded up $0.12 for the day and closed at $88.48Specifically, SVP Jill Wilson sold 2,835 shares of Carter’s stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $96.27, for a total transaction of $272,925.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David Pulver acquired 7,500 shares of Carter’s stock in a transaction on Thursday, September 6th. The shares were bought at an average cost of $98.55 per share, with a total value of $739,125.00. Following the completion of the transaction, the director now owns 63,517 shares of the company’s stock, valued at $6,259,600.35. The disclosure for this purchase can be found here. Insiders sold 102,835 shares of company stock valued at $9,606,925 over the last three months. 3.30% of the stock is owned by company insiders.
A number of research firms have commented on CRI. Cowen reaffirmed a “hold” rating and set a $104.00 price objective on shares of Carter’s in a research report on Friday, July 27th. ValuEngine cut shares of Carter’s from a “hold” rating to a “sell” rating in a research report on Tuesday, November 13th. Zacks Investment Research cut shares of Carter’s from a “hold” rating to a “sell” rating in a research report on Tuesday, October 23rd. Macquarie cut shares of Carter’s from an “outperform” rating to a “neutral” rating in a research report on Friday, November 2nd. Finally, B. Riley began coverage on shares of Carter’s in a research report on Tuesday, October 30th. They set a “market perform” rating and a $104.00 price objective for the company. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. Carter’s currently has an average rating of “Hold” and an average price target of $113.30.
The stock has a market cap of $4.05 billion, a PE ratio of 15.36, a PEG ratio of 1.79 and a beta of 0.57. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.49 and a current ratio of 3.67.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Tuesday, November 27th will be given a $0.45 dividend. The ex-dividend date of this dividend is Monday, November 26th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.03%. Carter’s’s payout ratio is presently 31.25%.
Several institutional investors have recently made changes to their positions in CRI. Principal Financial Group Inc. raised its stake in Carter’s by 3.6% in the first quarter. Principal Financial Group Inc. now owns 210,580 shares of the textile maker’s stock valued at $21,921,000 after purchasing an additional 7,230 shares in the last quarter. State of Alaska Department of Revenue raised its stake in Carter’s by 32.3% in the second quarter. State of Alaska Department of Revenue now owns 5,690 shares of the textile maker’s stock valued at $616,000 after purchasing an additional 1,390 shares in the last quarter. Xact Kapitalforvaltning AB raised its stake in Carter’s by 32.5% in the second quarter. Xact Kapitalforvaltning AB now owns 7,330 shares of the textile maker’s stock valued at $794,000 after purchasing an additional 1,800 shares in the last quarter. Retirement Systems of Alabama raised its stake in Carter’s by 1.5% in the second quarter. Retirement Systems of Alabama now owns 106,385 shares of the textile maker’s stock valued at $11,531,000 after purchasing an additional 1,581 shares in the last quarter. Finally, Amalgamated Bank raised its stake in Carter’s by 7.8% in the second quarter. Amalgamated Bank now owns 11,291 shares of the textile maker’s stock valued at $1,224,000 after purchasing an additional 813 shares in the last quarter. 98.58% of the stock is owned by institutional investors.
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Carter’s Company Profile (NYSE:CRI)
Carter's, Inc, together with its subsidiaries, designs, sources, and markets branded childrenswear under the Carter's, Child of Mine, Just One You, Precious Firsts, Simple Joys, OshKosh, Skip Hop, and other brands. The company operates through three segments: U.S. Retail, U.S. Wholesale, and International.
See Also: Insider Trading
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