Royal Bank of Canada Decreases Stock Holdings in Carter’s, Inc. $CRI

Royal Bank of Canada lowered its holdings in Carter’s, Inc. (NYSE:CRI) by 94.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,559 shares of the textile maker’s stock after selling 24,870 shares during the period. Royal Bank of Canada’s holdings in Carter’s were worth $55,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Carter’s by 5.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 120,964 shares of the textile maker’s stock worth $4,947,000 after purchasing an additional 6,195 shares during the period. Russell Investments Group Ltd. raised its position in Carter’s by 4.7% in the second quarter. Russell Investments Group Ltd. now owns 16,482 shares of the textile maker’s stock valued at $497,000 after purchasing an additional 734 shares during the period. Hsbc Holdings PLC raised its position in Carter’s by 71.5% in the second quarter. Hsbc Holdings PLC now owns 9,390 shares of the textile maker’s stock valued at $282,000 after purchasing an additional 3,915 shares during the period. Invesco Ltd. raised its position in Carter’s by 30.4% in the second quarter. Invesco Ltd. now owns 223,731 shares of the textile maker’s stock valued at $6,741,000 after purchasing an additional 52,103 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Carter’s by 202.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,486 shares of the textile maker’s stock worth $45,000 after purchasing an additional 995 shares in the last quarter.

Analyst Ratings Changes

Several brokerages have recently weighed in on CRI. Wall Street Zen downgraded Carter’s from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 29th. Weiss Ratings upgraded Carter’s from a “sell (d+)” rating to a “hold (c)” rating in a report on Thursday, August 13th. Monness Crespi & Hardt boosted their price target on Carter’s from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Wells Fargo & Company upgraded Carter’s from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $30.00 to $42.00 in a report on Wednesday, June 17th. Finally, UBS Group reaffirmed a “buy” rating on shares of Carter’s in a research report on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $41.17.

Carter’s Stock Performance

Shares of CRI opened at $32.39 on Thursday. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 6.07, a PEG ratio of 3.61 and a beta of 0.84. The company has a quick ratio of 1.50, a current ratio of 2.47 and a debt-to-equity ratio of 0.55. The business’s 50 day moving average is $38.26 and its two-hundred day moving average is $37.70. Carter’s, Inc. has a 52-week low of $27.15 and a 52-week high of $44.44.

Carter’s (NYSE:CRI) last released its quarterly earnings results on Friday, July 31st. The textile maker reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.20. The business had revenue of $615.49 million during the quarter, compared to the consensus estimate of $605.68 million. Carter’s had a net margin of 6.55% and a return on equity of 12.78%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.17 earnings per share. Analysts forecast that Carter’s, Inc. will post 3.28 EPS for the current fiscal year.

Carter’s Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Tuesday, September 1st. Carter’s’s dividend payout ratio (DPR) is currently 18.73%.

Carter’s Profile

Carter’s, Inc (NYSE: CRI) is a leading designer and marketer of infant and young children’s apparel in North America. Headquartered in Atlanta, Georgia, the company’s core business focuses on creating clothing and accessories for babies and children, including bodysuits, sleepwear, layette, outerwear and accessories that blend comfort, safety and style. Carter’s flagship brand is complemented by its OshKosh B’gosh line, which offers heritage-inspired designs and durable fabrics for toddlers and young kids.

The company distributes its products through a diversified platform that includes wholesale partnerships with major department stores and mass merchandisers, direct‐to‐consumer e-commerce sites, and an extensive network of company-operated retail stores.