Engineers Gate Manager LP Purchases New Stake in Carter’s, Inc. $CRI

Engineers Gate Manager LP acquired a new position in shares of Carter’s, Inc. (NYSE:CRI) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 54,904 shares of the textile maker’s stock, valued at approximately $2,260,000. Engineers Gate Manager LP owned approximately 0.15% of Carter’s as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CRI. California State Teachers Retirement System increased its stake in shares of Carter’s by 3,916.7% in the 2nd quarter. California State Teachers Retirement System now owns 1,858,497 shares of the textile maker’s stock worth $76,496,000 after acquiring an additional 1,812,228 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Carter’s by 36.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,765,205 shares of the textile maker’s stock valued at $63,121,000 after purchasing an additional 472,786 shares during the period. Rubric Capital Management LP grew its holdings 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 valued at $36,434,000 after purchasing an additional 558,853 shares during the period. Bank of New York Mellon Corp acquired a new stake in Carter’s during the second quarter worth about $28,348,000. Finally, Wellington Management Group LLP increased its position in Carter’s by 11.9% during the second quarter. Wellington Management Group LLP now owns 645,863 shares of the textile maker’s stock worth $26,584,000 after purchasing an additional 68,464 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CRI. Wall Street Zen upgraded shares of Carter’s from a “buy” rating to a “strong-buy” rating in a report on Saturday. Citigroup restated a “buy” rating on shares of Carter’s in a report on Tuesday, July 21st. Weiss Ratings raised shares of Carter’s from a “sell (d+)” rating to a “hold (c)” rating in a research report on Thursday, August 13th. Zacks Research upgraded Carter’s from a “hold” rating to a “strong-buy” rating in a report on Friday, August 21st. Finally, Wells Fargo & Company upgraded Carter’s from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $30.00 to $42.00 in a research report on Wednesday, June 17th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $40.88.

Carter’s Stock Up 0.4%

Shares of CRI opened at $30.57 on Tuesday. The company’s 50-day moving average price is $36.75 and its 200 day moving average price is $37.15. Carter’s, Inc. has a 12-month low of $27.15 and a 12-month high of $44.44. The company has a current ratio of 2.47, a quick ratio of 1.50 and a debt-to-equity ratio of 0.55. The firm has a market cap of $1.12 billion, a P/E ratio of 5.72, a price-to-earnings-growth ratio of 3.43 and a beta of 0.84.

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

Carter’s Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Tuesday, September 1st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.3%. Carter’s’s dividend payout ratio (DPR) is presently 18.73%.

About Carter’s

Carter’s, Inc (NYSE:CRI) is a specialty retailer and branded marketer of apparel, accessories and related products for babies and young children. The company’s portfolio includes Carter’s, OshKosh B’gosh, Skip Hop and Little Planet, offering items such as bodysuits, sleepwear, playwear, footwear, outerwear, accessories, baby gear and nursery products.

Founded in 1865 by William Carter, the company has developed into a major children’s apparel business. Carter’s products are sold through company-operated retail stores, e-commerce websites and wholesale partners, including department stores, mass merchants, specialty retailers and other distribution channels.

The company primarily serves customers in the United States and Canada, while also reaching international markets through select wholesale, licensing and distribution arrangements.