Carter's, Inc. Announces Quarterly Dividend of $0.37 (CRI)
Carter's, Inc. (NYSE:CRI) declared a quarterly dividend on Thursday, May 18th. Investors of record on Tuesday, May 30th will be given a dividend of 0.37 per share by the textile maker on Friday, June 16th. This represents a $1.48 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Thursday, May 25th.
Carter's has increased its dividend payment by an average of 40.1% annually over the last three years and has raised its dividend every year for the last 3 years. Carter's has a payout ratio of 26.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Carter's to earn $6.16 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 24.0%.
Shares of Carter's (NYSE:CRI) traded down 1.39% during midday trading on Thursday, reaching $83.29. The company’s stock had a trading volume of 774,683 shares. The stock has a market cap of $4.03 billion, a PE ratio of 16.63 and a beta of 0.35. Carter's has a one year low of $77.94 and a one year high of $112.58. The firm has a 50-day moving average of $90.35 and a 200-day moving average of $88.50.
Carter's (NYSE:CRI) last announced its quarterly earnings data on Thursday, April 27th. The textile maker reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.13. The firm had revenue of $732.80 million during the quarter, compared to the consensus estimate of $713.98 million. Carter's had a return on equity of 30.07% and a net margin of 7.78%. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.05 EPS. On average, analysts forecast that Carter's will post $5.62 EPS for the current year.
In other news, SVP Jill Wilson sold 4,288 shares of the stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $92.10, for a total transaction of $394,924.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Richard F. Westenberger sold 3,150 shares of the stock in a transaction on Friday, May 5th. The stock was sold at an average price of $93.13, for a total value of $293,359.50. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by corporate insiders.
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CRI has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded Carter's from a “hold” rating to a “buy” rating and set a $106.00 price objective for the company in a research note on Friday, April 28th. Oppenheimer Holdings Inc. set a $105.00 price objective on Carter's and gave the company a “buy” rating in a research note on Saturday, January 21st. FBR & Co set a $111.00 price objective on Carter's and gave the company a “buy” rating in a research note on Saturday, February 25th. Stifel Nicolaus upped their price objective on Carter's from $80.00 to $84.00 and gave the company a “hold” rating in a research note on Thursday, April 27th. Finally, Piper Jaffray Companies upgraded Carter's from a “neutral” rating to an “overweight” rating and set a $100.00 price objective for the company in a research note on Tuesday, February 14th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $102.55.
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 owns two brand names in the children’s apparel industry, Carter’s and OshKosh B’gosh (OshKosh). The Company operates through five segments: Carter’s Retail, Carter’s Wholesale, OshKosh Retail, OshKosh Wholesale and International.
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