Traders Buy Carter’s Inc. (CRI) on Weakness
Investors purchased shares of Carter’s Inc. (NYSE:CRI) on weakness during trading hours on Wednesday. $26.93 million flowed into the stock on the tick-up and $17.40 million flowed out of the stock on the tick-down, for a money net flow of $9.53 million into the stock. Of all stocks tracked, Carter’s had the 12th highest net in-flow for the day. Carter’s traded down ($0.37) for the day and closed at $95.66
Several equities research analysts have issued reports on the stock. FBR & Co reiterated a “buy” rating and set a $111.00 price objective on shares of Carter’s in a research note on Friday, September 16th. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and issued a $115.00 price target on shares of Carter’s in a report on Friday, September 9th. Monness Crespi & Hardt raised shares of Carter’s from a “neutral” rating to a “buy” rating and set a $118.00 price target on the stock in a report on Monday, August 8th. Zacks Investment Research cut shares of Carter’s from a “strong-buy” rating to a “hold” rating in a report on Friday, July 29th. Finally, Citigroup Inc. cut their price target on shares of Carter’s from $108.00 to $106.00 and set a “neutral” rating on the stock in a report on Thursday, July 28th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Carter’s has a consensus rating of “Buy” and a consensus target price of $112.75.
The stock has a market cap of $4.79 billion, a price-to-earnings ratio of 20.56 and a beta of 0.62. The firm has a 50 day moving average price of $98.10 and a 200-day moving average price of $102.41.
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Carter’s (NYSE:CRI) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.66 by $0.06. Carter’s had a return on equity of 29.33% and a net margin of 7.86%. The company had revenue of $639 million for the quarter, compared to the consensus estimate of $636.86 million. During the same quarter last year, the company posted $0.73 earnings per share. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. Equities analysts expect that Carter’s Inc. will post $5.07 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Tuesday, August 30th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, August 26th. This represents a $1.32 annualized dividend and a yield of 1.38%. Carter’s’s dividend payout ratio (DPR) is presently 28.39%.
In other news, CFO Richard F. Westenberger sold 2,500 shares of the firm’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $101.00, for a total value of $252,500.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 3.10% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in the company. IFP Advisors Inc increased its stake in shares of Carter’s by 25.2% in the second quarter. IFP Advisors Inc now owns 989 shares of the company’s stock valued at $105,000 after buying an additional 199 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Carter’s during the second quarter worth $106,000. Bancorpsouth Inc. acquired a new stake in Carter’s during the first quarter worth $220,000. Genesee Valley Trust Co. acquired a new stake in Carter’s during the second quarter worth $223,000. Finally, Advisor Group Inc. acquired a new stake in Carter’s during the second quarter worth $224,000. Institutional investors and hedge funds own 90.76% of the company’s stock.
Carter’s Company Profile
Carter’s, Inc (Carter’s) is a marketer of apparel for babies and young children in the United States and Canada. The Company operates through five segments: Carter’s Retail, Carter’s Wholesale, OshKosh Retail, OshKosh Wholesale and International. Its international segment includes Company-operated retail stores, wholesale and online operations in addition to royalty income from its international licensees.
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