Carter’s (NYSE:CRI) Trading 5.8% Higher – Here’s Why

Carter’s, Inc. (NYSE:CRI) shares traded up 5.8% during trading on Monday . The stock traded as high as $42.92 and last traded at $43.10. 282,650 shares were traded during mid-day trading, a decline of 73% from the average session volume of 1,062,193 shares. The stock had previously closed at $40.73.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. UBS Group dropped their target price on shares of Carter’s from $57.00 to $49.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Wells Fargo & Company dropped their target price on shares of Carter’s from $65.00 to $48.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Finally, Citigroup dropped their target price on shares of Carter’s from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat.com, Carter’s presently has a consensus rating of “Hold” and a consensus price target of $49.00.

Carter’s Stock Performance

The firm’s fifty day moving average price is $50.47 and its 200-day moving average price is $56.79. The company has a current ratio of 2.21, a quick ratio of 0.96 and a debt-to-equity ratio of 0.60. The company has a market cap of $1.50 billion, a P/E ratio of 6.59, a P/E/G ratio of 3.37 and a beta of 1.24.

Carter’s (NYSE:CRI) last issued its earnings results on Tuesday, February 25th. The textile maker reported $2.39 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.52. Carter’s had a net margin of 8.11% and a return on equity of 27.15%. The business had revenue of $859.70 million for the quarter, compared to analyst estimates of $835.82 million. During the same period in the previous year, the business earned $2.76 EPS. The firm’s revenue was up .2% on a year-over-year basis. As a group, research analysts forecast that Carter’s, Inc. will post 5.15 EPS for the current fiscal year.

Carter’s Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be given a $0.80 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $3.20 dividend on an annualized basis and a yield of 7.71%. Carter’s’s dividend payout ratio (DPR) is presently 62.62%.

Hedge Funds Weigh In On Carter’s

A number of large investors have recently modified their holdings of CRI. Pacer Advisors Inc. lifted its position in shares of Carter’s by 155.0% during the fourth quarter. Pacer Advisors Inc. now owns 2,851,079 shares of the textile maker’s stock worth $154,500,000 after purchasing an additional 1,732,857 shares in the last quarter. AQR Capital Management LLC increased its stake in Carter’s by 124.4% in the fourth quarter. AQR Capital Management LLC now owns 1,739,522 shares of the textile maker’s stock valued at $93,134,000 after purchasing an additional 964,494 shares in the last quarter. D. E. Shaw & Co. Inc. increased its stake in Carter’s by 108.0% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,126,468 shares of the textile maker’s stock valued at $61,043,000 after purchasing an additional 584,850 shares in the last quarter. First Trust Advisors LP increased its stake in Carter’s by 33.3% in the fourth quarter. First Trust Advisors LP now owns 1,919,953 shares of the textile maker’s stock valued at $104,042,000 after purchasing an additional 479,961 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Carter’s by 10.4% in the fourth quarter. Vanguard Group Inc. now owns 3,895,549 shares of the textile maker’s stock valued at $211,100,000 after buying an additional 366,293 shares during the period.

About Carter’s

Carter’s, Inc engages in the business of brand marketing of young children’s apparel. It operates through the following segments: the United States (US) Retail, US Wholesale, and International. The US Retail segment includes selling products through retail stores and ecommerce websites. The US Wholesale segment focuses on wholesale partners.