Carter’s (NYSE:CRI) Stock Price Up 5.4% – Here’s What Happened

Carter’s, Inc. (NYSE:CRI)’s share price rose 5.4% on Friday . The company traded as high as $38.05 and last traded at $37.49. Approximately 857,730 shares changed hands during mid-day trading, a decline of 37% from the average daily volume of 1,366,426 shares. The stock had previously closed at $35.57.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CRI shares. Wells Fargo & Company lowered 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. UBS Group decreased their price objective on Carter’s from $57.00 to $49.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Finally, Citigroup dropped their price objective on 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’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $49.00.

Carter’s Stock Performance

The company’s fifty day simple moving average is $45.81 and its 200 day simple moving average is $53.38. The stock has a market capitalization of $1.33 billion, a P/E ratio of 5.87, a P/E/G ratio of 3.37 and a beta of 1.09. The company has a current ratio of 2.21, a quick ratio of 0.96 and a debt-to-equity ratio of 0.60.

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

Carter’s Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 10th were paid a $0.80 dividend. The ex-dividend date was Monday, March 10th. This represents a $3.20 dividend on an annualized basis and a yield of 8.65%. Carter’s’s dividend payout ratio is presently 62.62%.

Hedge Funds Weigh In On Carter’s

Institutional investors have recently made changes to their positions in the stock. Jones Financial Companies Lllp raised its holdings in shares of Carter’s by 114.4% during the 4th quarter. Jones Financial Companies Lllp now owns 506 shares of the textile maker’s stock valued at $27,000 after buying an additional 270 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Carter’s by 2,112.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 531 shares of the textile maker’s stock valued at $29,000 after acquiring an additional 507 shares during the last quarter. Colonial Trust Co SC purchased a new position in shares of Carter’s during the fourth quarter worth approximately $29,000. True Wealth Design LLC lifted its holdings in shares of Carter’s by 173.0% in the 4th quarter. True Wealth Design LLC now owns 901 shares of the textile maker’s stock worth $49,000 after acquiring an additional 571 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its stake in shares of Carter’s by 36.9% in the 4th quarter. Venturi Wealth Management LLC now owns 994 shares of the textile maker’s stock valued at $54,000 after purchasing an additional 268 shares in the last quarter.

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.