Baird Financial Group Inc. Reduces Holdings in Carter's, Inc. (NYSE:CRI)
Baird Financial Group Inc. lessened its stake in shares of Carter's, Inc. (NYSE:CRI) by 7.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 277,426 shares of the textile maker’s stock after selling 21,891 shares during the period. Baird Financial Group Inc. owned 0.59% of Carter's worth $32,595,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. PNC Financial Services Group Inc. lifted its position in Carter's by 2.1% in the second quarter. PNC Financial Services Group Inc. now owns 1,704 shares of the textile maker’s stock worth $151,000 after purchasing an additional 35 shares during the period. Dimensional Fund Advisors LP lifted its position in Carter's by 18.1% in the second quarter. Dimensional Fund Advisors LP now owns 407,922 shares of the textile maker’s stock worth $36,284,000 after purchasing an additional 62,644 shares during the period. State Street Corp lifted its position in Carter's by 1.7% in the second quarter. State Street Corp now owns 1,321,596 shares of the textile maker’s stock worth $117,556,000 after purchasing an additional 22,158 shares during the period. The Manufacturers Life Insurance Company lifted its position in Carter's by 1.3% in the second quarter. The Manufacturers Life Insurance Company now owns 71,200 shares of the textile maker’s stock worth $6,334,000 after purchasing an additional 925 shares during the period. Finally, Advisory Services Network LLC bought a new position in Carter's in the second quarter worth $125,000. Institutional investors own 95.48% of the company’s stock.
CRI has been the subject of a number of research analyst reports. Citigroup lifted their price target on Carter's from $132.00 to $134.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. Zacks Investment Research upgraded Carter's from a “hold” rating to a “buy” rating and set a $135.00 price objective for the company in a research report on Monday, February 26th. Oppenheimer lifted their price objective on Carter's from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, February 22nd. Monness Crespi & Hardt restated a “buy” rating and set a $137.00 target price (up from $115.00) on shares of Carter's in a research report on Friday, February 23rd. Finally, Wells Fargo & Co restated a “market perform” rating and set a $123.00 target price (up from $105.00) on shares of Carter's in a research report on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $119.08.
Shares of Carter's, Inc. (NYSE CRI) opened at $117.81 on Wednesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.43 and a current ratio of 3.10. The stock has a market capitalization of $5,496.97, a P/E ratio of 18.76, a PEG ratio of 1.81 and a beta of 0.35. Carter's, Inc. has a 12 month low of $79.76 and a 12 month high of $129.00.
Carter's (NYSE:CRI) last posted its earnings results on Tuesday, February 27th. The textile maker reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.12. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. Carter's had a return on equity of 35.46% and a net margin of 8.90%. The firm’s revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.79 EPS. research analysts forecast that Carter's, Inc. will post 6.65 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Shareholders of record on Monday, March 12th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.53%. This is a positive change from Carter's’s previous quarterly dividend of $0.37. The ex-dividend date is Friday, March 9th. Carter's’s dividend payout ratio is currently 23.57%.
Carter's announced that its board has initiated a stock repurchase program on Tuesday, February 27th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the textile maker to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.
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Carter’s, Inc (Carter’s) is a marketer of apparel for babies and young children in the United States and Canada. The Company owns two brand names in the children’s apparel industry, Carter’s and OshKosh B’gosh (OshKosh). The Company operates through five segments: Carter’s Retail, Carter’s Wholesale, OshKosh Retail, OshKosh Wholesale and International.
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