Dynamic Technology Lab Private Ltd Invests $2.94 Million in Carter’s, Inc. $CRI

Dynamic Technology Lab Private Ltd purchased a new position in shares of Carter’s, Inc. (NYSE:CRI) in the first quarter, Holdings Channel.com reports. The fund purchased 71,970 shares of the textile maker’s stock, valued at approximately $2,944,000. Carter’s makes up approximately 0.4% of Dynamic Technology Lab Private Ltd’s portfolio, making the stock its 19th largest position.

A number of other institutional investors also recently modified their holdings of CRI. Allworth Financial LP raised its holdings in shares of Carter’s by 313.1% during the 1st quarter. Allworth Financial LP now owns 723 shares of the textile maker’s stock worth $28,000 after buying an additional 548 shares in the last quarter. Colonial Trust Co SC acquired a new position in Carter’s in the 4th quarter worth about $29,000. Parallel Advisors LLC increased its holdings in Carter’s by 80.9% in the 1st quarter. Parallel Advisors LLC now owns 1,062 shares of the textile maker’s stock worth $43,000 after purchasing an additional 475 shares in the last quarter. Headlands Technologies LLC acquired a new position in Carter’s in the 1st quarter worth about $58,000. Finally, US Bancorp DE increased its holdings in Carter’s by 45.0% in the 1st quarter. US Bancorp DE now owns 1,408 shares of the textile maker’s stock worth $58,000 after purchasing an additional 437 shares in the last quarter.

Analyst Ratings Changes

Several brokerages have recently weighed in on CRI. Barclays decreased their price target on Carter’s from $25.00 to $22.00 and set an “underweight” rating for the company in a research note on Tuesday, July 29th. Wells Fargo & Company increased their price target on Carter’s from $25.00 to $28.00 and gave the stock an “underweight” rating in a report on Wednesday, May 14th. UBS Group cut their price target on Carter’s from $32.00 to $26.00 and set a “neutral” rating on the stock in a report on Monday, July 28th. Finally, Zacks Research downgraded Carter’s from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 13th. Two research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Carter’s presently has an average rating of “Strong Sell” and an average price target of $30.25.

Carter’s Price Performance

NYSE:CRI opened at $28.66 on Friday. The stock has a fifty day moving average of $28.40 and a 200 day moving average of $33.69. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 7.60 and a beta of 1.02. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.03 and a current ratio of 2.20. Carter’s, Inc. has a 52-week low of $23.38 and a 52-week high of $71.99.

Carter’s (NYSE:CRI) last released its quarterly earnings results on Friday, July 25th. The textile maker reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.26). Carter’s had a net margin of 4.79% and a return on equity of 20.68%. The firm had revenue of $585.31 million for the quarter, compared to analysts’ expectations of $563.24 million. During the same quarter in the previous year, the business earned $0.76 EPS. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, research analysts expect that Carter’s, Inc. will post 5.15 EPS for the current fiscal year.

Carter’s Cuts Dividend

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

About Carter’s

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.