Swiss National Bank reduced its holdings in shares of Carter’s, Inc. (NYSE:CRI – Get Rating) by 3.5% during the 2nd quarter, Holdings Channel.com reports. The fund owned 96,400 shares of the textile maker’s stock after selling 3,500 shares during the period. Swiss National Bank’s holdings in Carter’s were worth $6,794,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in CRI. Lazard Asset Management LLC acquired a new stake in shares of Carter’s during the 2nd quarter valued at about $26,000. ACG Wealth bought a new position in Carter’s during the 2nd quarter valued at about $33,000. Parkside Financial Bank & Trust lifted its holdings in Carter’s by 159.4% during the 1st quarter. Parkside Financial Bank & Trust now owns 415 shares of the textile maker’s stock valued at $38,000 after purchasing an additional 255 shares during the last quarter. Institutional & Family Asset Management LLC bought a new position in Carter’s during the 1st quarter valued at about $42,000. Finally, Fifth Third Bancorp lifted its holdings in Carter’s by 20.3% during the 2nd quarter. Fifth Third Bancorp now owns 805 shares of the textile maker’s stock valued at $57,000 after purchasing an additional 136 shares during the last quarter. 99.13% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on CRI shares. Monness Crespi & Hardt cut their price target on shares of Carter’s to $84.00 in a report on Tuesday, November 1st. Evercore ISI cut their price target on shares of Carter’s to $80.00 in a report on Tuesday, August 9th. StockNews.com started coverage on shares of Carter’s in a report on Wednesday, October 12th. They set a “hold” rating for the company. Finally, B. Riley cut their price target on shares of Carter’s to $99.00 in a report on Tuesday, August 9th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Carter’s presently has a consensus rating of “Hold” and an average price target of $86.00.
Carter’s Trading Up 2.6 %
Carter’s (NYSE:CRI – Get Rating) last posted its quarterly earnings results on Friday, October 28th. The textile maker reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.02. The business had revenue of $818.60 million during the quarter, compared to the consensus estimate of $853.63 million. Carter’s had a net margin of 7.94% and a return on equity of 44.06%. Carter’s’s revenue for the quarter was down 8.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.93 earnings per share. On average, sell-side analysts anticipate that Carter’s, Inc. will post 6.39 earnings per share for the current year.
Carter’s Announces Dividend
The company also recently disclosed a quarterly 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. This represents a $3.00 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date of this dividend is Monday, November 28th. Carter’s’s dividend payout ratio is currently 45.66%.
Insider Activity at Carter’s
In related news, CEO Michael Dennis Casey sold 41,798 shares of the business’s stock in a transaction that occurred on Friday, November 18th. The shares were sold at an average price of $75.00, for a total transaction of $3,134,850.00. Following the completion of the transaction, the chief executive officer now owns 414,856 shares in the company, valued at $31,114,200. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.60% of the company’s stock.
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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