Carter’s, Inc. $CRI Shares Sold by Royal Bank of Canada

Royal Bank of Canada trimmed its holdings in shares of Carter’s, Inc. (NYSE:CRI) by 94.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,559 shares of the textile maker’s stock after selling 24,870 shares during the period. Royal Bank of Canada’s holdings in Carter’s were worth $55,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of CRI. Dimensional Fund Advisors LP increased its position in Carter’s by 36.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,765,205 shares of the textile maker’s stock worth $63,121,000 after buying an additional 472,786 shares in the last quarter. Empowered Funds LLC acquired a new position in shares of Carter’s in the first quarter worth $4,896,000. UBS Group AG lifted its position in shares of Carter’s by 29.6% in the fourth quarter. UBS Group AG now owns 1,349,777 shares of the textile maker’s stock valued at $43,773,000 after acquiring an additional 308,347 shares in the last quarter. Rubric Capital Management LP lifted its position in shares of Carter’s by 121.5% in the first quarter. Rubric Capital Management LP now owns 1,018,853 shares of the textile maker’s stock valued at $36,434,000 after acquiring an additional 558,853 shares in the last quarter. Finally, Wolverine Asset Management LLC acquired a new stake in shares of Carter’s during the fourth quarter valued at $906,000.

Carter’s Stock Up 1.2%

Shares of NYSE CRI opened at $32.39 on Thursday. The stock has a market capitalization of $1.19 billion, a PE ratio of 6.07, a P/E/G ratio of 3.61 and a beta of 0.84. The company has a quick ratio of 1.50, a current ratio of 2.47 and a debt-to-equity ratio of 0.55. The firm has a fifty day moving average of $38.26 and a 200-day moving average of $37.70. Carter’s, Inc. has a 52-week low of $27.15 and a 52-week high of $44.44.

Carter’s (NYSE:CRI) last issued its earnings results on Friday, July 31st. The textile maker reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.20. Carter’s had a return on equity of 12.78% and a net margin of 6.55%.The business had revenue of $615.49 million for the quarter, compared to analyst estimates of $605.68 million. During the same period last year, the company posted $0.17 EPS. The business’s quarterly revenue was up 5.2% on a year-over-year basis. On average, analysts anticipate that Carter’s, Inc. will post 3.28 EPS for the current year.

Carter’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Tuesday, September 1st will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Tuesday, September 1st. Carter’s’s dividend payout ratio (DPR) is 18.73%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Citigroup reissued a “buy” rating on shares of Carter’s in a research note on Tuesday, July 21st. Monness Crespi & Hardt raised their price target on shares of Carter’s from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. UBS Group reiterated a “buy” rating on shares of Carter’s in a report on Wednesday, July 8th. Zacks Research raised shares of Carter’s from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 21st. Finally, Weiss Ratings upgraded shares of Carter’s from a “sell (d+)” rating to a “hold (c)” rating in a research report on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $41.17.

About Carter’s

Carter’s, Inc (NYSE: CRI) is a leading designer and marketer of infant and young children’s apparel in North America. Headquartered in Atlanta, Georgia, the company’s core business focuses on creating clothing and accessories for babies and children, including bodysuits, sleepwear, layette, outerwear and accessories that blend comfort, safety and style. Carter’s flagship brand is complemented by its OshKosh B’gosh line, which offers heritage-inspired designs and durable fabrics for toddlers and young kids.

The company distributes its products through a diversified platform that includes wholesale partnerships with major department stores and mass merchandisers, direct?to?consumer e-commerce sites, and an extensive network of company-operated retail stores.