Carter’s (NYSE:CRI) Shares Down 3.8% – Here’s What Happened

Carter’s, Inc. (NYSE:CRI) shares were down 3.8% during trading on Monday . The stock traded as low as $35.45 and last traded at $35.78. Approximately 419,936 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 1,427,909 shares. The stock had previously closed at $37.18.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Wells Fargo & Company lowered their target price on Carter’s from $65.00 to $48.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Citigroup dropped their price objective 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. Finally, UBS Group reduced their target price on shares of Carter’s from $57.00 to $49.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th.

Carter’s Trading Down 1.3 %

The stock has a 50-day moving average price of $43.41 and a two-hundred day moving average price of $51.85. The stock has a market capitalization of $1.32 billion, a PE ratio of 5.82, a PEG ratio of 3.37 and a beta of 1.09. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.96 and a current ratio of 2.21.

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

Carter’s Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 10th were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 8.72%. The ex-dividend date was Monday, March 10th. Carter’s’s dividend payout ratio is currently 62.62%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. FMR LLC lifted its holdings in shares of Carter’s by 99.9% in the third quarter. FMR LLC now owns 4,681 shares of the textile maker’s stock worth $304,000 after buying an additional 2,339 shares in the last quarter. Captrust Financial Advisors bought a new position in shares of Carter’s during the 3rd quarter valued at about $231,000. Public Employees Retirement System of Ohio grew its position in shares of Carter’s by 2.3% during the third quarter. Public Employees Retirement System of Ohio now owns 17,652 shares of the textile maker’s stock valued at $1,147,000 after purchasing an additional 396 shares in the last quarter. Barclays PLC increased its holdings in shares of Carter’s by 58.7% in the third quarter. Barclays PLC now owns 20,077 shares of the textile maker’s stock worth $1,304,000 after purchasing an additional 7,429 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Carter’s in the third quarter worth about $692,000.

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.