Carter’s, Inc. (NYSE:CRI) Sees Large Growth in Short Interest

Carter’s, Inc. (NYSE:CRI) was the recipient of a large increase in short interest in April. As of April 15th, there was short interest totalling 4,020,000 shares, an increase of 9.2% from the March 31st total of 3,680,000 shares. Currently, 11.4% of the company’s shares are sold short. Based on an average daily volume of 808,300 shares, the days-to-cover ratio is currently 5.0 days.

Insider Buying and Selling

In related news, Director Mark Hipp sold 1,875 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $81.74, for a total transaction of $153,262.50. Following the completion of the sale, the director now owns 10,216 shares of the company’s stock, valued at approximately $835,055.84. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.30% of the company’s stock.

Institutional Trading of Carter’s

Institutional investors and hedge funds have recently bought and sold shares of the stock. Ables Iannone Moore & Associates Inc. purchased a new position in Carter’s during the 4th quarter valued at about $37,000. Blue Trust Inc. grew its stake in shares of Carter’s by 28.6% in the 4th quarter. Blue Trust Inc. now owns 630 shares of the textile maker’s stock valued at $44,000 after buying an additional 140 shares in the last quarter. Parallel Advisors LLC boosted its position in Carter’s by 457.2% during the fourth quarter. Parallel Advisors LLC now owns 808 shares of the textile maker’s stock worth $61,000 after purchasing an additional 663 shares during the period. Stevens Capital Management LP bought a new stake in Carter’s during the fourth quarter worth approximately $204,000. Finally, Park Avenue Securities LLC bought a new stake in Carter’s during the first quarter worth approximately $208,000.

Carter’s Price Performance

Shares of NYSE CRI opened at $68.41 on Thursday. Carter’s has a fifty-two week low of $60.65 and a fifty-two week high of $88.03. The firm’s 50-day simple moving average is $79.24 and its 200 day simple moving average is $74.95. The company has a quick ratio of 1.30, a current ratio of 2.43 and a debt-to-equity ratio of 0.59. The stock has a market cap of $2.50 billion, a P/E ratio of 10.79, a P/E/G ratio of 2.11 and a beta of 1.29.

Carter’s (NYSE:CRI) last issued its quarterly earnings results on Tuesday, February 27th. The textile maker reported $2.76 EPS for the quarter, topping the consensus estimate of $2.52 by $0.24. Carter’s had a net margin of 8.06% and a return on equity of 28.55%. The firm had revenue of $858.00 million for the quarter, compared to analysts’ expectations of $867.81 million. During the same period in the previous year, the business earned $2.29 earnings per share. Carter’s’s revenue for the quarter was down 5.9% compared to the same quarter last year. Equities analysts expect that Carter’s will post 6.35 EPS for the current year.

Carter’s Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 11th were issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 4.68%. The ex-dividend date of this dividend was Friday, March 8th. This is an increase from Carter’s’s previous quarterly dividend of $0.75. Carter’s’s payout ratio is presently 50.47%.

Wall Street Analyst Weigh In

Several analysts have issued reports on CRI shares. Wedbush increased their price objective on shares of Carter’s from $67.00 to $78.00 and gave the company a “neutral” rating in a research report on Friday, February 23rd. Citigroup decreased their price objective on shares of Carter’s from $66.00 to $64.00 and set a “sell” rating for the company in a report on Thursday, April 18th. Evercore ISI lifted their price objective on shares of Carter’s from $70.00 to $80.00 and gave the stock an “in-line” rating in a report on Wednesday, February 28th. Wells Fargo & Company decreased their price objective on shares of Carter’s from $75.00 to $68.00 and set an “equal weight” rating for the company in a report on Wednesday, April 24th. Finally, Monness Crespi & Hardt downgraded shares of Carter’s from a “buy” rating to a “neutral” rating in a report on Monday, February 26th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat.com, Carter’s currently has an average rating of “Hold” and an average price target of $73.80.

Carter’s Company Profile

Carter's, Inc, together with its subsidiaries, designs, sources, and markets branded childrenswear under the Carter's, OshKosh, Skip Hop, Child of Mine, Just One You, Simple Joys, Little Planet, and other brands in the United States and internationally. It operates through three segments: U.S.