Carter’s (NYSE:CRI) Price Target Lowered to $64.00 at Citigroup

Carter’s (NYSE:CRI) had its price target lowered by Citigroup from $66.00 to $64.00 in a research report report published on Thursday, Benzinga reports. The firm currently has a sell rating on the textile maker’s stock.

Several other equities research analysts have also recently weighed in on CRI. Evercore ISI increased their price objective on Carter’s from $70.00 to $80.00 and gave the stock an in-line rating in a report on Wednesday, February 28th. StockNews.com cut Carter’s from a buy rating to a hold rating in a report on Wednesday, April 10th. Monness Crespi & Hardt cut Carter’s from a buy rating to a neutral rating in a research note on Monday, February 26th. Wedbush raised their target price on Carter’s from $67.00 to $78.00 and gave the company a neutral rating in a research note on Friday, February 23rd. Finally, TheStreet upgraded Carter’s from a c+ rating to a b- rating in a research note on Friday, December 22nd. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat, the company currently has an average rating of Hold and an average price target of $75.25.

Carter’s Trading Up 0.1 %

Shares of CRI stock opened at $71.41 on Thursday. The stock has a market capitalization of $2.62 billion, a PE ratio of 11.39, a P/E/G ratio of 2.08 and a beta of 1.29. Carter’s has a 1-year low of $60.65 and a 1-year high of $88.03. The business has a 50-day moving average of $80.85 and a 200 day moving average of $74.53. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.15 and a quick ratio of 1.10.

Carter’s (NYSE:CRI) last issued its earnings results on Tuesday, February 27th. The textile maker reported $2.76 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.24. Carter’s had a return on equity of 28.79% and a net margin of 7.89%. The company had revenue of $858.00 million during the quarter, compared to analysts’ expectations of $867.81 million. During the same period in the prior year, the business posted $2.29 EPS. Carter’s’s quarterly revenue was down 5.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Carter’s will post 6.52 earnings per share for the current year.

Carter’s Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 11th were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date of this dividend was Friday, March 8th. This is a boost from Carter’s’s previous quarterly dividend of $0.75. Carter’s’s dividend payout ratio (DPR) is presently 51.04%.

Insider Activity at Carter’s

In related news, Director Mark Hipp sold 1,875 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $81.74, for a total transaction of $153,262.50. Following the completion of the transaction, the director now owns 10,216 shares of the company’s stock, valued at approximately $835,055.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its position in Carter’s by 28.6% during the 4th quarter. Blue Trust Inc. now owns 630 shares of the textile maker’s stock valued at $44,000 after buying an additional 140 shares in the last quarter. Guggenheim Capital LLC increased its holdings in shares of Carter’s by 7.6% in the 1st quarter. Guggenheim Capital LLC now owns 2,349 shares of the textile maker’s stock worth $216,000 after purchasing an additional 166 shares in the last quarter. Brinker Capital Investments LLC increased its holdings in shares of Carter’s by 1.3% in the 1st quarter. Brinker Capital Investments LLC now owns 12,517 shares of the textile maker’s stock worth $1,151,000 after purchasing an additional 166 shares in the last quarter. Stifel Financial Corp increased its holdings in shares of Carter’s by 1.7% in the 3rd quarter. Stifel Financial Corp now owns 9,936 shares of the textile maker’s stock worth $687,000 after purchasing an additional 170 shares in the last quarter. Finally, First Republic Investment Management Inc. increased its holdings in shares of Carter’s by 2.5% in the 1st quarter. First Republic Investment Management Inc. now owns 7,036 shares of the textile maker’s stock worth $506,000 after purchasing an additional 173 shares in the last quarter.

About Carter’s

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, Little Planet, and other brands in the United States and internationally. It operates through three segments: U.S.