Carter’s, Inc. Declares Quarterly Dividend of $0.37 (CRI)
Carter’s, Inc. (NYSE:CRI) announced a quarterly dividend on Friday, August 18th, Wall Street Journal reports. Shareholders of record on Tuesday, August 29th will be given a dividend of 0.37 per share by the textile maker on Friday, September 8th. This represents a $1.48 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date is Friday, August 25th.
Carter’s has raised its dividend payment by an average of 40.1% per year over the last three years and has increased its dividend annually for the last 3 consecutive years. Carter’s has a payout ratio of 26.3% meaning 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%.
Carter’s (NYSE CRI) traded down 1.08% during midday trading on Friday, reaching $84.28. The company’s stock had a trading volume of 492,932 shares. The stock’s 50-day moving average price is $87.65 and its 200 day moving average price is $87.39. The firm has a market capitalization of $4.03 billion, a PE ratio of 16.53 and a beta of 0.32. Carter’s has a 1-year low of $77.94 and a 1-year high of $100.60.
Carter’s (NYSE:CRI) last released its quarterly earnings results on Thursday, July 27th. The textile maker reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.09. The business had revenue of $692.10 million for the quarter, compared to analysts’ expectations of $681.08 million. Carter’s had a return on equity of 33.18% and a net margin of 7.74%. The company’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.72 EPS. Equities analysts anticipate that Carter’s will post $5.61 EPS for the current fiscal year.
In other Carter’s news, Director Thomas E. Whiddon sold 17,500 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $90.35, for a total transaction of $1,581,125.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director David Pulver bought 1,000 shares of the stock in a transaction on Wednesday, May 24th. The shares were bought at an average price of $80.10 per share, for a total transaction of $80,100.00. Following the acquisition, the director now owns 54,331 shares in the company, valued at approximately $4,351,913.10. The disclosure for this purchase can be found here. 3.10% of the stock is currently owned by corporate insiders.
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A number of research firms recently weighed in on CRI. Zacks Investment Research upgraded Carter’s from a “hold” rating to a “buy” rating and set a $106.00 price target on the stock in a report on Friday, April 28th. Oppenheimer Holdings, Inc. set a $105.00 price target on Carter’s and gave the stock a “buy” rating in a report on Wednesday, June 14th. BidaskClub cut Carter’s from a “hold” rating to a “sell” rating in a report on Monday. Cowen and Company set a $92.00 price target on Carter’s and gave the stock a “hold” rating in a report on Thursday, July 27th. Finally, FBR & Co restated a “buy” rating on shares of Carter’s in a report on Thursday, July 13th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $100.40.
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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