Carter's (NYSE:CRI) Sets New 1-Year Low - Here's What Happened

Key Points

• Carter's Inc. (NYSE: CRI) reached a new 52-week low at $23.38, down from a previous close of $24.24, with significant trading volume of 605,242 shares.
• Various analysts have revised their price targets for Carter's shares, with Wells Fargo increasing it to $28.00 while Barclays lowered it to $22.00, indicating mixed sentiment about the company's outlook.
• Carter's recently increased its dividend from $0.22 to $0.25 per share, resulting in a yield of 319.0% and a payout ratio of 26.53%.

Carter's, Inc. (NYSE:CRI - Get Free Report)'s share price reached a new 52-week low on Friday . The company traded as low as $23.38 and last traded at $23.50, with a volume of 605242 shares traded. The stock had previously closed at $24.24.

Analyst Ratings Changes

Several equities analysts recently commented on CRI shares. Barclays dropped their target price on Carter's from $25.00 to $22.00 and set an "underweight" rating on the stock in a report on Tuesday, July 29th. Wells Fargo & Company raised their price objective on shares of Carter's from $25.00 to $28.00 and gave the stock an "underweight" rating in a research note on Wednesday, May 14th. Finally, UBS Group reduced their target price on shares of Carter's from $32.00 to $26.00 and set a "neutral" rating on the stock in a report on Monday, July 28th.

Carter's Trading Up 2.3%

The firm has a 50 day simple moving average of $30.62 and a two-hundred day simple moving average of $37.95. The firm has a market capitalization of $922.84 million, a P/E ratio of 6.72 and a beta of 0.99. 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 (NYSE:CRI - Get Free Report) last issued its earnings results on Friday, July 25th. The textile maker reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.26). Carter's had a return on equity of 20.68% and a net margin of 4.79%. The firm had revenue of $585.31 million during the quarter, compared to analysts' expectations of $563.24 million. During the same period in the prior year, the company earned $0.76 EPS. The firm's quarterly revenue was up 3.7% compared to the same quarter last year. Equities research analysts forecast that Carter's, Inc. will post 5.15 earnings per share for the current year.

Carter's Increases Dividend

The business also recently announced a dividend, which was paid on Friday, June 20th. Stockholders of record on Tuesday, June 3rd were issued a $0.25 dividend. This is a positive change from Carter's's previous dividend of $0.22. The ex-dividend date was Monday, June 2nd. This represents a dividend yield of 319.0%. Carter's's dividend payout ratio (DPR) is presently 26.53%.

Institutional Investors Weigh In On Carter's

Institutional investors and hedge funds have recently modified their holdings of the business. Allworth Financial LP boosted its stake in shares of Carter's by 313.1% in the first quarter. Allworth Financial LP now owns 723 shares of the textile maker's stock worth $28,000 after buying an additional 548 shares during the last quarter. Colonial Trust Co SC purchased a new position in Carter's in the fourth quarter worth approximately $29,000. Signaturefd LLC boosted its position in shares of Carter's by 269.0% during the second quarter. Signaturefd LLC now owns 1,000 shares of the textile maker's stock worth $30,000 after buying an additional 729 shares during the period. Parallel Advisors LLC boosted its holdings in Carter's by 80.9% in the first quarter. Parallel Advisors LLC now owns 1,062 shares of the textile maker's stock valued at $43,000 after purchasing an additional 475 shares during the period. Finally, True Wealth Design LLC boosted its holdings in Carter's by 173.0% in the fourth quarter. True Wealth Design LLC now owns 901 shares of the textile maker's stock valued at $49,000 after purchasing an additional 571 shares during the period.

Carter's Company 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.