Aristeia Capital L.L.C. Takes Position in Carter’s, Inc. $CRI

Aristeia Capital L.L.C. purchased a new position in shares of Carter’s, Inc. (NYSE:CRI) in the 1st quarter, HoldingsChannel.com reports. The fund purchased 7,720 shares of the textile maker’s stock, valued at approximately $316,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CRI. Millennium Management LLC raised its holdings in Carter’s by 14,270.6% in the 1st quarter. Millennium Management LLC now owns 1,631,493 shares of the textile maker’s stock valued at $66,728,000 after acquiring an additional 1,620,140 shares in the last quarter. RWWM Inc. increased its stake in shares of Carter’s by 145.3% in the 1st quarter. RWWM Inc. now owns 2,190,482 shares of the textile maker’s stock valued at $89,591,000 after purchasing an additional 1,297,607 shares during the last quarter. Maverick Capital Ltd. bought a new position in shares of Carter’s in the 1st quarter valued at $8,098,000. CenterBook Partners LP bought a new position in shares of Carter’s in the 1st quarter valued at $7,187,000. Finally, Hudson Bay Capital Management LP bought a new position in shares of Carter’s in the 4th quarter valued at $7,557,000.

Analysts Set New Price Targets

CRI has been the topic of several recent analyst reports. Zacks Research lowered Carter’s from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 13th. Barclays decreased their price target on Carter’s from $25.00 to $22.00 and set an “underweight” rating on the stock in a research note on Tuesday, July 29th. UBS Group reduced their price objective on Carter’s from $32.00 to $26.00 and set a “neutral” rating on the stock in a research report on Monday, July 28th. Finally, Wells Fargo & Company boosted their price objective on Carter’s from $25.00 to $28.00 and gave the stock an “underweight” rating in a research report on Wednesday, May 14th. Two investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Strong Sell” and an average target price of $30.25.

Carter’s Trading Up 0.3%

Shares of CRI stock opened at $28.83 on Tuesday. The firm has a market capitalization of $1.05 billion, a P/E ratio of 7.65 and a beta of 1.02. Carter’s, Inc. has a twelve month low of $23.38 and a twelve month high of $71.99. The company has a quick ratio of 1.03, a current ratio of 2.20 and a debt-to-equity ratio of 0.58. The stock’s fifty day simple moving average is $28.37 and its 200 day simple moving average is $33.40.

Carter’s (NYSE:CRI) last announced its earnings results on Friday, July 25th. The textile maker reported $0.17 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.26). The company had revenue of $585.31 million for the quarter, compared to analyst estimates of $563.24 million. Carter’s had a return on equity of 20.68% and a net margin of 4.79%.The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.76 earnings per share. As a group, sell-side analysts predict that Carter’s, Inc. will post 5.15 EPS for the current fiscal year.

Carter’s Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Tuesday, August 26th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $1.00 annualized dividend and a yield of 3.5%. Carter’s’s payout ratio is presently 26.53%.

Carter’s Profile

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.