Short Interest in Carter’s, Inc. (NYSE:CRI) Drops By 9.2%

Carter’s, Inc. (NYSE:CRI) was the target of a significant drop in short interest during the month of October. As of October 15th, there was short interest totalling 5,060,000 shares, a drop of 9.2% from the September 30th total of 5,570,000 shares. Based on an average daily volume of 1,180,000 shares, the days-to-cover ratio is currently 4.3 days. Approximately 14.4% of the company’s shares are short sold.

Analyst Ratings Changes

Several research firms have recently issued reports on CRI. Bank of America decreased their price objective on Carter’s from $65.00 to $54.00 and set an “underperform” rating on the stock in a report on Monday, July 29th. Wells Fargo & Company reduced their target price on Carter’s from $72.00 to $65.00 and set an “equal weight” rating on the stock in a report on Monday. Two investment analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $70.00.

Institutional Trading of Carter’s

Hedge funds and other institutional investors have recently bought and sold shares of the company. Park Avenue Securities LLC acquired a new position in Carter’s in the first quarter valued at approximately $208,000. Hennion & Walsh Asset Management Inc. acquired a new position in shares of Carter’s during the first quarter worth approximately $255,000. State of Michigan Retirement System boosted its position in shares of Carter’s by 2.3% during the first quarter. State of Michigan Retirement System now owns 9,029 shares of the textile maker’s stock worth $765,000 after buying an additional 200 shares during the period. Leeward Investments LLC MA boosted its position in shares of Carter’s by 0.6% during the first quarter. Leeward Investments LLC MA now owns 145,129 shares of the textile maker’s stock worth $12,289,000 after buying an additional 810 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Carter’s during the first quarter worth approximately $1,450,000.

Carter’s Stock Down 1.2 %

Shares of NYSE CRI traded down $0.68 during midday trading on Friday, reaching $54.02. 526,750 shares of the company’s stock were exchanged, compared to its average volume of 952,095. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.96 and a current ratio of 2.21. The stock has a market capitalization of $1.95 billion, a PE ratio of 8.60, a price-to-earnings-growth ratio of 3.41 and a beta of 1.23. Carter’s has a 52-week low of $53.40 and a 52-week high of $88.03. The business’s fifty day moving average price is $65.43 and its two-hundred day moving average price is $65.34.

Carter’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, August 27th were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 5.92%. The ex-dividend date was Tuesday, August 27th. Carter’s’s dividend payout ratio is currently 50.79%.

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.