Monarch Partners Asset Management LLC acquired a new stake in Carter’s, Inc. (NYSE:CRI) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 101,360 shares of the textile maker’s stock, valued at approximately $9,245,000. Carter’s accounts for approximately 1.4% of Monarch Partners Asset Management LLC’s portfolio, making the stock its 26th biggest holding. Monarch Partners Asset Management LLC owned approximately 0.23% of Carter’s at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd purchased a new position in shares of Carter’s during the second quarter valued at about $32,000. FTB Advisors Inc. purchased a new position in shares of Carter’s during the second quarter valued at about $54,000. Huntington National Bank increased its position in shares of Carter’s by 178.9% during the third quarter. Huntington National Bank now owns 594 shares of the textile maker’s stock valued at $54,000 after buying an additional 381 shares during the period. Quest Capital Management Inc. ADV purchased a new position in shares of Carter’s during the third quarter valued at about $55,000. Finally, SRS Capital Advisors Inc. purchased a new position in shares of Carter’s during the second quarter valued at about $97,000.
Several equities analysts recently issued reports on CRI shares. Monness Crespi & Hardt reduced their price target on shares of Carter’s from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. UBS Group set a $100.00 price target on shares of Carter’s and gave the company a “hold” rating in a research report on Friday, October 25th. Cfra upgraded shares of Carter’s from a “hold” rating to a “buy” rating in a research report on Thursday, October 24th. B. Riley set a $118.00 price target on shares of Carter’s and gave the company a “buy” rating in a research report on Tuesday, August 20th. Finally, DA Davidson boosted their price target on shares of Carter’s from $110.00 to $118.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $110.25.
In other Carter’s news, Director Amy Woods Brinkley sold 1,298 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $92.41, for a total value of $119,948.18. Following the sale, the director now owns 16,468 shares in the company, valued at $1,521,807.88. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael Dennis Casey sold 20,000 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $103.36, for a total transaction of $2,067,200.00. The disclosure for this sale can be found here. 3.20% of the stock is currently owned by corporate insiders.
CRI traded up $1.99 during midday trading on Friday, reaching $108.65. The company’s stock had a trading volume of 522,843 shares, compared to its average volume of 722,192. The firm has a market capitalization of $4.58 billion, a price-to-earnings ratio of 17.27, a PEG ratio of 2.04 and a beta of 0.92. The company has a current ratio of 2.53, a quick ratio of 1.03 and a debt-to-equity ratio of 1.80. Carter’s, Inc. has a 1 year low of $75.66 and a 1 year high of $109.71. The stock’s 50-day moving average is $94.95 and its 200-day moving average is $93.92.
Carter’s (NYSE:CRI) last announced its quarterly earnings data on Thursday, October 24th. The textile maker reported $1.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.70 by $0.17. The business had revenue of $943.32 million for the quarter, compared to analysts’ expectations of $936.09 million. Carter’s had a net margin of 7.68% and a return on equity of 35.47%. The business’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.61 earnings per share. As a group, equities research analysts forecast that Carter’s, Inc. will post 6.57 earnings per share for the current fiscal year.
Carter's, Inc, together with its subsidiaries, designs, sources, and markets branded childrenswear under the Carter's, Child of Mine, Just One You, Precious Firsts, Precious Baby, Simple Joys, OshKosh B'gosh, Skip Hop, and other brands. The company operates through three segments: U.S.
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