Carter’s (NYSE:CRI) released its quarterly earnings results on Tuesday, April 30th. The textile maker reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.17, MarketWatch Earnings reports. The firm had revenue of $741.06 million during the quarter, compared to analysts’ expectations of $724.08 million. Carter’s had a net margin of 7.95% and a return on equity of 33.91%. The firm’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.09 EPS.
Carter’s stock traded down $0.49 during mid-day trading on Wednesday, reaching $89.67. 629,462 shares of the company traded hands, compared to its average volume of 757,618. The company has a current ratio of 2.68, a quick ratio of 1.25 and a debt-to-equity ratio of 0.74. Carter’s has a fifty-two week low of $75.66 and a fifty-two week high of $118.22. The firm has a market capitalization of $4.05 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 1.75 and a beta of 0.62.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 29th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, May 28th. This represents a $2.00 annualized dividend and a dividend yield of 2.23%. Carter’s’s dividend payout ratio (DPR) is presently 31.80%.
Several equities research analysts have recently commented on CRI shares. Citigroup restated a “buy” rating and issued a $120.00 price target on shares of Carter’s in a report on Monday, March 18th. Deutsche Bank started coverage on shares of Carter’s in a report on Tuesday, April 16th. They issued a “hold” rating and a $99.00 price target for the company. DA Davidson started coverage on shares of Carter’s in a report on Tuesday, April 23rd. They issued a “neutral” rating and a $105.15 price target for the company. ValuEngine upgraded shares of Carter’s from a “sell” rating to a “hold” rating in a report on Monday, February 25th. Finally, TheStreet upgraded shares of Carter’s from a “c+” rating to a “b-” rating in a report on Wednesday, March 13th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $106.92.
In other Carter’s news, CFO Richard F. Westenberger sold 6,185 shares of the company’s stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $98.44, for a total transaction of $608,851.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kendra Krugman sold 500 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $108.44, for a total transaction of $54,220.00. The disclosure for this sale can be found here. Insiders have sold a total of 19,883 shares of company stock worth $1,993,643 in the last 90 days. 3.20% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC boosted its holdings in shares of Carter’s by 0.7% in the 1st quarter. Nisa Investment Advisors LLC now owns 15,300 shares of the textile maker’s stock valued at $1,542,000 after acquiring an additional 100 shares during the last quarter. Cascade Investment Advisors Inc. boosted its holdings in Carter’s by 2.1% during the fourth quarter. Cascade Investment Advisors Inc. now owns 7,820 shares of the textile maker’s stock worth $638,000 after buying an additional 160 shares in the last quarter. Private Capital Group LLC boosted its holdings in Carter’s by 38.8% during the first quarter. Private Capital Group LLC now owns 587 shares of the textile maker’s stock worth $59,000 after buying an additional 164 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its holdings in Carter’s by 0.8% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 21,670 shares of the textile maker’s stock worth $2,171,000 after buying an additional 167 shares in the last quarter. Finally, Alpha Quant Advisors LLC boosted its holdings in Carter’s by 112.7% during the first quarter. Alpha Quant Advisors LLC now owns 334 shares of the textile maker’s stock worth $34,000 after buying an additional 177 shares in the last quarter. 95.82% of the stock is currently owned by institutional investors and hedge funds.
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Carter’s Company Profile
Carter's, Inc, together with its subsidiaries, designs, sources, and markets branded childrenswear under the Carter's, Child of Mine, Just One You, Precious Firsts, Precious Baby, Simple Joys, OshKosh B'gosh, Skip Hop, and other brands. The company operates through three segments: U.S.
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