Carter’s (NYSE:CRI) PT Raised to $72.00 at Wells Fargo & Company

Carter’s (NYSE:CRI) had its price target boosted by Wells Fargo & Company from $60.00 to $72.00 in a research report released on Monday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the textile maker’s stock.

Separately, Bank of America reduced their target price on shares of Carter’s from $65.00 to $54.00 and set an underperform rating for the company in a research note on Monday, July 29th. Two analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $71.17.

Carter’s Stock Performance

NYSE:CRI opened at $69.88 on Monday. The firm has a 50-day moving average of $63.54 and a two-hundred day moving average of $69.52. Carter’s has a 1-year low of $54.74 and a 1-year high of $88.03. The stock has a market cap of $2.55 billion, a P/E ratio of 11.02, a PEG ratio of 4.28 and a beta of 1.23. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.09 and a quick ratio of 0.95.

Carter’s (NYSE:CRI) last announced its quarterly earnings data on Friday, July 26th. The textile maker reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.31. Carter’s had a return on equity of 28.65% and a net margin of 8.29%. The firm had revenue of $564.43 million for the quarter, compared to analysts’ expectations of $566.79 million. On average, research analysts expect that Carter’s will post 4.9 earnings per share for the current fiscal year.

Carter’s Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 4.58%. The ex-dividend date is Tuesday, August 27th. Carter’s’s dividend payout ratio is presently 50.47%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Gladius Capital Management LP purchased a new position in Carter’s during the 2nd quarter valued at about $30,000. Ables Iannone Moore & Associates Inc. bought a new position in shares of Carter’s in the fourth quarter valued at approximately $37,000. CWM LLC raised its position in shares of Carter’s by 431.3% in the second quarter. CWM LLC now owns 595 shares of the textile maker’s stock valued at $37,000 after purchasing an additional 483 shares during the period. Abich Financial Wealth Management LLC lifted its stake in shares of Carter’s by 67.6% in the second quarter. Abich Financial Wealth Management LLC now owns 858 shares of the textile maker’s stock worth $53,000 after buying an additional 346 shares during the last quarter. Finally, Parallel Advisors LLC grew its position in shares of Carter’s by 457.2% in the fourth quarter. Parallel Advisors LLC now owns 808 shares of the textile maker’s stock valued at $61,000 after purchasing an additional 663 shares during the last quarter.

About Carter’s

Carter's, Inc, together with its subsidiaries, designs, sources, and markets branded childrenswear under the Carter's, OshKosh, Skip Hop, Child of Mine, Just One You, Simple Joys, Little Planet, and other brands in the United States and internationally. It operates through three segments: U.S.