Ellington Management Group LLC increased its holdings in Carter's, Inc. (NYSE:CRI) by 77.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,400 shares of the textile maker’s stock after acquiring an additional 4,100 shares during the quarter. Ellington Management Group LLC’s holdings in Carter's were worth $1,104,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Strategic Global Advisors LLC acquired a new position in shares of Carter's in the third quarter worth about $287,000. Rhumbline Advisers lifted its stake in shares of Carter's by 12.5% in the third quarter. Rhumbline Advisers now owns 106,540 shares of the textile maker’s stock worth $10,521,000 after acquiring an additional 11,836 shares in the last quarter. CIBC Asset Management Inc acquired a new position in shares of Carter's in the third quarter worth about $366,000. Vident Investment Advisory LLC acquired a new position in shares of Carter's in the third quarter worth about $415,000. Finally, California Public Employees Retirement System lifted its stake in shares of Carter's by 6.8% in the third quarter. California Public Employees Retirement System now owns 119,192 shares of the textile maker’s stock worth $11,770,000 after acquiring an additional 7,592 shares in the last quarter. Institutional investors and hedge funds own 97.47% of the company’s stock.
In related news, insider Brian Lynch sold 26,500 shares of the stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $116.12, for a total value of $3,077,180.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Greg Foglesong sold 6,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $117.98, for a total value of $707,880.00. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company’s stock.
Carter's, Inc. (CRI) opened at $114.12 on Monday. The company has a market capitalization of $5,374.06, a P/E ratio of 19.74, a PEG ratio of 1.77 and a beta of 0.35. Carter's, Inc. has a fifty-two week low of $79.76 and a fifty-two week high of $129.00. The company has a current ratio of 3.10, a quick ratio of 1.43 and a debt-to-equity ratio of 0.72.
Carter's (NYSE:CRI) last posted its earnings results on Tuesday, February 27th. The textile maker reported $2.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.20 by $0.12. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.03 billion. Carter's had a return on equity of 35.46% and a net margin of 8.90%. The business’s revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.79 earnings per share. sell-side analysts predict that Carter's, Inc. will post 6.65 EPS for the current fiscal year.
Carter's declared that its Board of Directors has initiated a share repurchase program on Tuesday, February 27th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the textile maker to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Investors of record on Monday, March 12th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.58%. This is a positive change from Carter's’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Friday, March 9th. Carter's’s dividend payout ratio is 23.57%.
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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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