Carter’s (NYSE:CRI) Shares Up 5.4% After Dividend Announcement

Shares of Carter’s, Inc. (NYSE:CRIGet Rating) shot up 5.4% on Friday following a dividend announcement from the company. The company traded as high as $75.18 and last traded at $75.00. 31,342 shares changed hands during trading, a decline of 96% from the average session volume of 812,760 shares. The stock had previously closed at $71.16.

The newly announced dividend which will be paid on Friday, December 9th. Investors of record on Tuesday, November 29th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Monday, November 28th. This represents a $3.00 dividend on an annualized basis and a yield of 4.01%. Carter’s’s dividend payout ratio (DPR) is currently 45.66%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CRI. Evercore ISI dropped their price target on Carter’s to $80.00 in a report on Tuesday, August 9th. B. Riley decreased their target price on Carter’s to $99.00 in a research report on Tuesday, August 9th. Monness Crespi & Hardt decreased their target price on Carter’s to $84.00 in a research report on Tuesday, November 1st. Finally, StockNews.com assumed coverage on Carter’s in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $86.00.

Carter’s Stock Performance

The company has a market capitalization of $2.86 billion, a PE ratio of 11.40 and a beta of 1.25. The company has a quick ratio of 0.81, a current ratio of 2.40 and a debt-to-equity ratio of 0.93. The company has a 50-day moving average price of $70.67 and a two-hundred day moving average price of $74.94.

Carter’s (NYSE:CRIGet Rating) last announced its quarterly earnings results on Friday, October 28th. The textile maker reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.02. The company had revenue of $818.60 million during the quarter, compared to analysts’ expectations of $853.63 million. Carter’s had a return on equity of 44.06% and a net margin of 7.94%. The firm’s quarterly revenue was down 8.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.93 earnings per share. Analysts predict that Carter’s, Inc. will post 6.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Carter’s

Several large investors have recently added to or reduced their stakes in CRI. Park Avenue Securities LLC boosted its stake in Carter’s by 11.8% during the first quarter. Park Avenue Securities LLC now owns 4,537 shares of the textile maker’s stock valued at $417,000 after buying an additional 479 shares during the period. SG Americas Securities LLC boosted its stake in Carter’s by 12.8% during the first quarter. SG Americas Securities LLC now owns 14,265 shares of the textile maker’s stock valued at $1,312,000 after buying an additional 1,616 shares during the period. Mutual of America Capital Management LLC boosted its stake in Carter’s by 1.9% during the first quarter. Mutual of America Capital Management LLC now owns 38,545 shares of the textile maker’s stock valued at $3,546,000 after buying an additional 723 shares during the period. Montag A & Associates Inc. bought a new stake in Carter’s during the first quarter valued at $49,000. Finally, Verdence Capital Advisors LLC boosted its stake in Carter’s by 12.3% during the first quarter. Verdence Capital Advisors LLC now owns 3,602 shares of the textile maker’s stock valued at $331,000 after buying an additional 394 shares during the period. Institutional investors own 99.13% of the company’s stock.

About Carter’s

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Carter's, Inc, together with its subsidiaries, designs, sources, and markets branded childrenswear under the Carter's, OshKosh, Skip Hop, Child of Mine, Just One You, Simple Joys, Carter's My First Love, little planet, and other brands in the United States and internationally. The company operates through three segments: U.S.

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