Bank of New York Mellon Corp Lowers Holdings in Carter’s, Inc. (NYSE:CRI)

Bank of New York Mellon Corp trimmed its position in Carter’s, Inc. (NYSE:CRI – Get Rating) by 5.2% in the 3rd quarter, Holdings Channel reports. The firm owned 530,063 shares of the textile maker’s stock after selling 29,121 shares during the quarter. Bank of New York Mellon Corp’s holdings in Carter’s were worth $34,733,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Lazard Asset Management LLC bought a new stake in Carter’s during the second quarter valued at $26,000. Ronald Blue Trust Inc. raised its holdings in shares of Carter’s by 331.9% in the 3rd quarter. Ronald Blue Trust Inc. now owns 406 shares of the textile maker’s stock valued at $29,000 after acquiring an additional 312 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in shares of 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 acquiring an additional 255 shares during the last quarter. Eagle Bay Advisors LLC boosted its position in shares of Carter’s by 63.1% during the 2nd quarter. Eagle Bay Advisors LLC now owns 809 shares of the textile maker’s stock valued at $57,000 after acquiring an additional 313 shares during the last quarter. Finally, Covestor Ltd grew its holdings in shares of Carter’s by 129.7% during the first quarter. Covestor Ltd now owns 627 shares of the textile maker’s stock worth $58,000 after purchasing an additional 354 shares in the last quarter. 99.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Carter’s

In related news, CEO Michael Dennis Casey sold 3,145 shares of the stock in a transaction dated Tuesday, December 27th. The stock was sold at an average price of $75.03, for a total transaction of $235,969.35. Following the completion of the sale, the chief executive officer now directly owns 380,162 shares in the company, valued at approximately $28,523,554.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.60% of the company’s stock.

Carter’s Stock Performance

Shares of NYSE CRI opened at $69.30 on Tuesday. The stock has a market cap of $2.61 billion, a price-to-earnings ratio of 10.88 and a beta of 1.25. The stock’s 50-day moving average is $78.57 and its 200 day moving average is $74.26. The company has a current ratio of 2.25, a quick ratio of 0.84 and a debt-to-equity ratio of 0.77. Carter’s, Inc. has a 1-year low of $62.65 and a 1-year high of $97.68.

Carter’s (NYSE:CRI – Get Rating) last posted its quarterly earnings results on Friday, February 24th. The textile maker reported $2.29 EPS for the quarter, topping the consensus estimate of $1.74 by $0.55. Carter’s had a net margin of 7.78% and a return on equity of 45.25%. The firm had revenue of $912.10 million for the quarter, compared to the consensus estimate of $897.27 million. During the same period last year, the firm posted $2.31 earnings per share. The business’s revenue was down 14.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Carter’s, Inc. will post 5.88 EPS for the current fiscal year.

Carter’s Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 17th. Stockholders of record on Tuesday, March 7th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Monday, March 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.33%. Carter’s’s dividend payout ratio (DPR) is currently 47.10%.

Analysts Set New Price Targets

Separately, Wedbush downgraded shares of Carter’s from an “outperform” rating to a “neutral” rating and set a $78.00 target price on the stock. in a research note on Thursday, January 26th. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat.com, Carter’s currently has a consensus rating of “Hold” and an average price target of $82.25.

Carter’s Company Profile

(Get Rating)

Carter’s, Inc engages in the marketing of apparel for babies and young children. It operates through the following segments: U.S. Retail, U.S. Wholesale, and International. The U.S. retail segment consists of sales of products in retail and online stores. The U.S. Wholesale segment includes sales in the United States of products to wholesale partners.