Citigroup Cuts Carter’s (NYSE:CRI) Price Target to $64.00

Carter’s (NYSE:CRI) had its price target cut by Citigroup from $66.00 to $64.00 in a report released on Thursday, Benzinga reports. They currently have a sell rating on the textile maker’s stock.

CRI has been the topic of a number of other research reports. Wedbush upped their target price on Carter’s from $67.00 to $78.00 and gave the company a neutral rating in a research note on Friday, February 23rd. UBS Group boosted their price target on Carter’s from $76.00 to $79.00 and gave the company a neutral rating in a report on Wednesday, February 28th. Evercore ISI boosted their price target on Carter’s from $70.00 to $80.00 and gave the company an in-line rating in a report on Wednesday, February 28th. TheStreet upgraded Carter’s from a c+ rating to a b- rating in a report on Friday, December 22nd. Finally, StockNews.com lowered Carter’s from a buy rating to a hold rating in a report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $75.25.

Carter’s Trading Up 0.1 %

Shares of NYSE CRI opened at $71.41 on Thursday. The business’s 50 day moving average is $80.85 and its two-hundred day moving average is $74.53. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.15 and a quick ratio of 1.10. Carter’s has a 1-year low of $60.65 and a 1-year high of $88.03. The stock has a market capitalization of $2.62 billion, a P/E ratio of 11.39, a PEG ratio of 2.08 and a beta of 1.29.

Carter’s (NYSE:CRI) last issued its quarterly earnings data on Tuesday, February 27th. The textile maker reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.24. The company had revenue of $858.00 million for the quarter, compared to analysts’ expectations of $867.81 million. Carter’s had a return on equity of 28.79% and a net margin of 7.89%. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.29 earnings per share. As a group, research analysts expect that Carter’s will post 6.52 EPS for the current year.

Carter’s Increases Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Friday, March 8th. This represents a $3.20 dividend on an annualized basis and a yield of 4.48%. This is a positive change from Carter’s’s previous quarterly dividend of $0.75. Carter’s’s dividend payout ratio is currently 51.04%.

Insiders Place Their Bets

In other Carter’s news, Director Mark Hipp sold 1,875 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was 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 in the company, valued at $835,055.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 3.30% of the stock is owned by company insiders.

Institutional Trading of Carter’s

A number of hedge funds have recently bought and sold shares of CRI. Wasatch Advisors LP purchased a new stake in Carter’s during the first quarter worth $45,011,000. Fuller & Thaler Asset Management Inc. lifted its holdings in Carter’s by 17,623.0% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 450,695 shares of the textile maker’s stock worth $41,459,000 after buying an additional 448,152 shares during the period. Norges Bank purchased a new stake in Carter’s during the fourth quarter worth $31,193,000. Cooper Creek Partners Management LLC purchased a new stake in shares of Carter’s during the 3rd quarter valued at $28,588,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of Carter’s during the 1st quarter valued at $26,217,000.

About Carter’s

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.