Carter's (NYSE:CRI) Sets New 52-Week Low - What's Next?

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 stock traded as low as $23.38 and last traded at $23.50, with a volume of 605242 shares trading hands. The stock had previously closed at $24.24.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CRI. Wells Fargo & Company upped their price objective on shares of Carter's from $25.00 to $28.00 and gave the company an "underweight" rating in a research note on Wednesday, May 14th. UBS Group dropped their price objective on shares of Carter's from $32.00 to $26.00 and set a "neutral" rating on the stock in a research note on Monday. Finally, Barclays decreased their target price on shares of Carter's from $25.00 to $22.00 and set an "underweight" rating for the company in a research report on Tuesday.

Carter's Trading Down 2.5%

The company has a current ratio of 2.20, a quick ratio of 1.03 and a debt-to-equity ratio of 0.58. The business's fifty day simple moving average is $30.91 and its two-hundred day simple moving average is $38.57. The stock has a market capitalization of $860.77 million, a P/E ratio of 6.28 and a beta of 0.98.

Carter's (NYSE:CRI - Get Free Report) last announced its quarterly earnings data on Friday, July 25th. The textile maker reported $0.17 earnings per share (EPS) 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 business had revenue of $585.31 million during the quarter, compared to analyst estimates of $563.24 million. During the same quarter in the prior year, the company posted $0.76 EPS. The company's quarterly revenue was up 3.7% compared to the same quarter last year. As a group, 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 disclosed a dividend, which was paid on Friday, June 20th. Shareholders of record on Tuesday, June 3rd were given a $0.25 dividend. This represents a yield of 319.0%. The ex-dividend date was Monday, June 2nd. This is a boost from Carter's's previous dividend of $0.22. Carter's's dividend payout ratio is 26.53%.

Institutional Investors Weigh In On Carter's

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of Carter's by 10.4% in the 4th quarter. Vanguard Group Inc. now owns 3,895,549 shares of the textile maker's stock valued at $211,100,000 after purchasing an additional 366,293 shares during the last quarter. RWWM Inc. boosted its stake in shares of Carter's by 145.3% in the 1st quarter. RWWM Inc. now owns 2,190,482 shares of the textile maker's stock valued at $89,591,000 after purchasing an additional 1,297,607 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Carter's by 33.3% in the 4th quarter. First Trust Advisors LP now owns 1,919,953 shares of the textile maker's stock valued at $104,042,000 after purchasing an additional 479,961 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Carter's by 124.4% in the 4th quarter. AQR Capital Management LLC now owns 1,739,522 shares of the textile maker's stock valued at $93,134,000 after purchasing an additional 964,494 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Carter's by 14,270.6% in the 1st quarter. Millennium Management LLC now owns 1,631,493 shares of the textile maker's stock valued at $66,728,000 after purchasing an additional 1,620,140 shares during the last quarter.

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.

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