Carter's, Inc. (NYSE:CRI) Declares Dividend Increase - $0.25 Per Share

Carter's, Inc. (NYSE:CRI - Get Free Report) declared a dividend on Saturday, May 31st, investing.com reports. Investors of record on Tuesday, June 3rd will be given a dividend of 0.25 per share by the textile maker on Friday, June 20th. This represents a yield of 3.19%. The ex-dividend date is Monday, June 2nd. This is a 13.6% increase from Carter's's previous dividend of $0.22.

Carter's has increased its dividend payment by an average of 31.7% per year over the last three years. Carter's has a payout ratio of 37.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Carter's to earn $4.77 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 21.0%.

Carter's Stock Down 4.1%

Shares of CRI traded down $1.27 during midday trading on Monday, reaching $30.10. 1,762,250 shares of the company were exchanged, compared to its average volume of 1,315,594. Carter's has a 1-year low of $29.78 and a 1-year high of $71.99. The stock has a 50-day moving average price of $35.66 and a 200-day moving average price of $45.61. The company has a current ratio of 2.21, a quick ratio of 0.96 and a debt-to-equity ratio of 0.60. The company has a market cap of $1.10 billion, a price-to-earnings ratio of 4.78, a P/E/G ratio of 3.37 and a beta of 1.05.

Carter's (NYSE:CRI - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The textile maker reported $0.66 EPS for the quarter, beating analysts' consensus estimates of $0.53 by $0.13. Carter's had a return on equity of 27.15% and a net margin of 8.11%. The firm had revenue of $291.09 million during the quarter, compared to the consensus estimate of $624.86 million. During the same quarter in the prior year, the business posted $0.98 earnings per share. Carter's's revenue for the quarter was down 4.8% on a year-over-year basis. Research analysts expect that Carter's will post 5.15 earnings per share for the current year.

Hedge Funds Weigh In On Carter's

A hedge fund recently raised its stake in Carter's stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Carter's, Inc. (NYSE:CRI - Free Report) by 5.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 120,964 shares of the textile maker's stock after acquiring an additional 6,195 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.33% of Carter's worth $4,947,000 at the end of the most recent reporting period.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Barclays began coverage on shares of Carter's in a report on Monday, April 28th. They set an "underweight" rating and a $25.00 price objective for the company. UBS Group lowered their price target on Carter's from $37.00 to $32.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. Citigroup lowered their price target on Carter's from $50.00 to $45.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. Finally, Wells Fargo & Company raised their price target on Carter's from $25.00 to $28.00 and gave the company an "underweight" rating in a report on Wednesday, May 14th. Three investment analysts have rated the stock with a sell rating and two have given a hold rating to the company's stock. Based on data from MarketBeat, Carter's has an average rating of "Reduce" and an average target price of $36.80.

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.