Carter’s (NYSE:CRI) Stock Gets Price Target Cut from Wells Fargo & Company

Carter’s (NYSE:CRI) had its price objective trimmed by Wells Fargo & Company from $42.00 to $30.00 in a research note released on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the textile maker’s stock.

Several other analysts also recently weighed in on the company. Wall Street Zen downgraded Carter’s from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 26th. Weiss Ratings raised Carter’s from a “sell (d+)” rating to a “hold (c)” rating in a research note on Thursday, August 13th. Citigroup reissued a “buy” rating on shares of Carter’s in a research note on Tuesday, July 21st. Capital One Financial set a $40.00 target price on shares of Carter’s in a report on Tuesday, September 8th. Finally, Zacks Research raised shares of Carter’s from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $39.38.

Carter’s Stock Down 1.1%

CRI opened at $31.47 on Monday. The company has a market cap of $1.16 billion, a P/E ratio of 5.89, a P/E/G ratio of 3.59 and a beta of 0.84. The business’s 50-day moving average price is $33.40 and its 200-day moving average price is $36.52. The company has a current ratio of 2.47, a quick ratio of 1.50 and a debt-to-equity ratio of 0.55. Carter’s has a 12 month low of $27.86 and a 12 month high of $44.44.

Carter’s (NYSE:CRI) last released its earnings results on Friday, July 31st. The textile maker reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.20. The company had revenue of $615.49 million during the quarter, compared to analyst estimates of $605.68 million. Carter’s had a return on equity of 12.78% and a net margin of 6.55%. Carter’s’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.17 EPS. On average, equities analysts expect that Carter’s will post 3.28 EPS for the current year.

Carter’s Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Tuesday, September 1st were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Tuesday, September 1st. Carter’s’s dividend payout ratio is 18.73%.

Institutional Trading of Carter’s

Institutional investors and hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in Carter’s by 36.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,765,205 shares of the textile maker’s stock valued at $63,121,000 after acquiring an additional 472,786 shares during the period. Rubric Capital Management LP grew its stake in shares of Carter’s by 121.5% in the first quarter. Rubric Capital Management LP now owns 1,018,853 shares of the textile maker’s stock worth $36,434,000 after acquiring an additional 558,853 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of Carter’s in the second quarter worth approximately $28,348,000. Wellington Management Group LLP grew its stake in shares of Carter’s by 11.9% in the second quarter. Wellington Management Group LLP now owns 645,863 shares of the textile maker’s stock worth $26,584,000 after acquiring an additional 68,464 shares during the period. Finally, Aristides Capital LLC grew its stake in shares of Carter’s by 123.3% in the first quarter. Aristides Capital LLC now owns 163,949 shares of the textile maker’s stock worth $5,863,000 after acquiring an additional 90,533 shares during the period.

Carter’s Company Profile

Carter’s, Inc (NYSE:CRI) is a designer, marketer and retailer of apparel and related products for babies and young children. The company’s offerings include bodysuits, sleepwear, playwear, outerwear, footwear, accessories, gifts, bedding and other products for infants, toddlers and young children.

Carter’s markets products primarily under the Carter’s and OshKosh B’gosh brands, as well as Skip Hop, which offers baby and children’s gear, accessories and related products. The company sells through its own retail stores and websites, wholesale partners, department stores, mass merchants and other retailers.

The company traces its history to 1865, when it was established as the William Carter Company.