Pallas Capital Advisors LLC Buys 6,233 Shares of Carter’s, Inc. (NYSE:CRI)

Pallas Capital Advisors LLC raised its position in shares of Carter’s, Inc. (NYSE:CRI) by 120.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,415 shares of the textile maker’s stock after purchasing an additional 6,233 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Carter’s were worth $467,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CRI. Jones Financial Companies Lllp boosted its stake in shares of Carter’s by 114.4% in the fourth quarter. Jones Financial Companies Lllp now owns 506 shares of the textile maker’s stock worth $27,000 after buying an additional 270 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Carter’s by 2,112.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 531 shares of the textile maker’s stock valued at $29,000 after acquiring an additional 507 shares during the last quarter. Colonial Trust Co SC acquired a new stake in shares of Carter’s in the fourth quarter valued at approximately $29,000. Parallel Advisors LLC increased its holdings in shares of Carter’s by 80.9% in the first quarter. Parallel Advisors LLC now owns 1,062 shares of the textile maker’s stock valued at $43,000 after purchasing an additional 475 shares during the last quarter. Finally, True Wealth Design LLC increased its stake in Carter’s by 173.0% during the fourth quarter. True Wealth Design LLC now owns 901 shares of the textile maker’s stock worth $49,000 after acquiring an additional 571 shares during the last quarter.

Carter’s Price Performance

Shares of NYSE:CRI opened at $31.93 on Friday. Carter’s, Inc. has a 52 week low of $29.62 and a 52 week high of $71.99. The company has a current ratio of 2.21, a quick ratio of 0.96 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $1.16 billion, a P/E ratio of 5.07, a PEG ratio of 3.37 and a beta of 1.00. The firm’s 50 day moving average is $34.24 and its two-hundred day moving average is $44.40.

Carter’s (NYSE:CRI) last posted its quarterly earnings data on Friday, April 25th. The textile maker reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.13. The firm had revenue of $291.09 million during the quarter, compared to analyst estimates of $624.86 million. Carter’s had a net margin of 8.11% and a return on equity of 27.15%. The company’s revenue was down 4.8% on a year-over-year basis. During the same quarter last year, the business posted $0.98 EPS. Analysts anticipate that Carter’s, Inc. will post 5.15 earnings per share for the current year.

Carter’s Increases Dividend

The company also recently announced a dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, June 3rd will be issued a $0.25 dividend. This represents a yield of 3.19%. The ex-dividend date is Monday, June 2nd. This is an increase from Carter’s’s previous dividend of $0.22. Carter’s’s dividend payout ratio (DPR) is 22.12%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. UBS Group dropped their price objective on Carter’s from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Monday, April 28th. Citigroup dropped their price target on Carter’s from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Wells Fargo & Company boosted their target price on Carter’s from $25.00 to $28.00 and gave the stock an “underweight” rating in a research report on Wednesday, May 14th. Finally, Barclays initiated coverage on Carter’s in a research note on Monday, April 28th. They issued an “underweight” rating and a $25.00 target price on the stock. Three analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $36.80.

About Carter’s

Carter’s, Inc engages in the business of brand marketing of young children’s apparel. It operates through the following segments: the United States (US) Retail, US Wholesale, and International. The US Retail segment includes selling products through retail stores and ecommerce websites. The US Wholesale segment focuses on wholesale partners.